FINEP – Research and Innovation is a public company under Brazil’s Ministry of Science, Technology and Innovation.
Since 1967, when it was created, Finep has expanded its original function of financing the implementation of post-graduation programs in universities.
In the 70s, Finep was responsible for financing the implementation of new research groups, the creation of thematic programs, the expansion of infrastructureof S&T and the institutional consolidation of research and post-graduation studies in Brazil. Finep also stimulated the linkage between universities, research centers, consulting and contracting services, products and business processes.
Since then, initiatives in S,T &I developed by companies in partnership with Scientific and Technological Institutions, which had great economic success, are also attached to the FINEP funding, such as: the development of Embraer’s aircraft Tucano, which paved the way for this company’s airplanes to become an important item on the agenda of the country's exports; a major program of training of human resources in the country and abroad, as well as numerous projects of Embrapa - Brazilian Agricultural Research Interprise with universities, which were essential for the technological development of the Brazilian agricultural system, making it one of the most competitive in the world; research projects and training of human resources at Petrobras, in partnership with universities, which contributed to create and to enhance technologies for oil exploration in deepwater
and made Brazil achieve self-sufficiency in the sector.
The ability to fund the entire system of S,T&I is stated in Finep’s own name. Combining reimbursable and non-reimbursable resources as well as other instruments provides Finep with a unique profile and a great power to induce innovation activities, essential for increasing the competitiveness of the business sector in Brazil.