FINEP

What FINEP does

FINEP (Financiadora de Estudos e Projetos) is a Brazilian federal public company (empresa pública) founded in 1967 and linked to the Ministry of Science, Technology and Innovation (MCTI), operating as Brazil's principal public innovation funding agency. Headquartered in Rio de Janeiro with 501-1,000 employees, FINEP manages the FNDCT (Fundo Nacional de Desenvolvimento Científico e Tecnológico) and 17 sectoral funds covering energy, health, agribusiness, minerals, biotechnology, aerospace, and other strategic sectors. The agency offers three core service lines: reimbursable credit (subsidized financing using TJLP, IPCA, and TR-based contractual currencies with spread components), non-reimbursable funding (grants and economic subsidies distributed via public calls), and indirect investment (limited-participation in venture capital funds such as FIP Antler Brasil I, FIP Nordeste Capital Semente, and FIP Conexões Startups).

The underlying operating model combines direct financing platforms with a distribution network of state-level FAPs, partner financial agents, BNDES, OCB, and sector associations. Customers include medium and large enterprises (reimbursable credit), micro/small/medium companies (Tecnova and partner-operated credit), Scientific Technological and Innovation Institutions (ICTs) including universities and research centers, venture capital funds, cooperatives (since January 2026), and government entities such as Embrapa. Pricing is publicly disclosed and subsidy-based rather than market-driven: reimbursable loans use contractual currencies (URTJ-01, UR-IPCA, UR-TR) for monetary correction, while grants require no repayment if project terms are met. The TIV (Taxa de Inspeção e Vigilância) fee is charged for project monitoring.

FINEP's reach has scaled materially under the Nova Indústria Brasil (NIB) industrial policy, with R$36.4 billion in innovation projects contracted over 2023-2025, R$41 billion invested since 2023, and a R$140 billion partnership with BNDES through December 2026. The go-to-market approach is sales-led but operates through public calls for proposals, regional events (Finep pelo Brasil with 12,000+ participants), and inter-institutional partnerships rather than traditional outbound sales. Notably, FINEP does not generate commercial revenue in the conventional sense — it administers government funding programs with structural dependence on federal budget allocations and sectoral fund contributions.

Name

FINEP

Legal name

Financiadora de Estudos e Projetos

Website

http://www.finep.gov.br

Company type

Public

Founded year

1967

Operating status

Operating

Headcount range

501–1,000 employees

Short description

FINEP is Brazil's federal public innovation funding agency, linked to MCTI, providing reimbursable credit, non-reimbursable grants, and venture capital investments to companies, research institutions, universities, and cooperatives across strategic sectors.

Ownership category

akta.pro rank

Product category

Public Development Finance

NAICS

Nondepository Credit Intermediation (5222), Credit Intermediation and Related Activities (522)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

National Development Banks & State Development Finance Institutions (DFIs) (BPADACAC)

akta.pro secondary industries

SME, Microfinance & Financial Inclusion Facilities (BPADACAI), Green/Climate Development Banks & Funds (FSABAKAH)

Keywords

• Public innovation funding
• Reimbursable credit financing
• Non-reimbursable grants
• Venture capital funds
• Sectoral fund management

Headquarters

HQ city

Rio De Janeiro

HQ country

Brazil

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Reimbursable Credit (Financiamento Reembolsável): Finep provides loans to companies and institutions at subsidized rates, with interest rates based on TJLP (Taxa de Juros de Longo Prazo), IPCA, or TR (Taxa Referencial). Contracts use contractual currencies (URTJ-01, UR-IPCA, UR-TR) for monetary correction and include spread components for Finep's remuneration. The agency charges TIV (Taxa de Inspeção e Vigilância) for project monitoring.
2. Non-Reimbursable Funding (Financiamento Não Reembolsável): Grants and subsidies from FNDCT for companies and Scientific, Technological and Innovation Institutions (ICTs), distributed through public calls and programs like Tecnova, with resources not required to be repaid if project terms are met.
3. Indirect Investment (Investimento Indireto): Finep invests in venture capital funds (FIPs) as a limited partner, supporting startups and innovative companies at various stages, including seed, early-stage, and growth equity investments through funds like FIP Nordeste Capital Semente, FIP Antler Brasil I, and FIP Conexões Startups.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

FINEP is a Brazilian federal public innovation funding agency that provides three core financing instruments: reimbursable credit (subsidized loans at TJLP, IPCA, or TR-based rates) for medium and large companies; non-reimbursable grants (subvenção econômica) for companies and Scientific, Technological and Innovation Institutions (ICTs); and indirect venture capital investments through investment funds (FIPs). These core services are delivered through specific programs including Tecnova for small companies, Mais Inovação Brasil under the Nova Indústria Brasil industrial policy, and thematic programs targeting mining, defense, clean energy, and applied research.

Product overview

FINEP (Financiadora de Estudos e Projetos) is Brazil's primary public innovation funding agency, operating as a government-linked organization that provides multiple financing instruments rather than a single unified product. The core offering consists of three main service categories: Credit (reimbursable financing for medium and large enterprises), Non-Reimbursable Funding (grants for companies and research institutions), and Indirect Investment (venture capital through investment funds). These core services are delivered through specific programs including Tecnova (small company subsidy program with R$ 360 million in 2026), Mais Inovação Brasil (comprehensive innovation funding under Nova Indústria Brasil), and various thematic programs targeting mining innovation, defense, and clean energy. The agency also manages investment funds such as FIP Nordeste Capital Semente and the Energy Transition Fund. The total resources available under Nova Indústria Brasil reached R$ 140 billion by 2026, with R$ 37.5 billion from FINEP itself.

Differentiator

Problem solved

Functional benefit

Products and services

• Credit (Crédito)
• Non-Reimbursable Funding (Financiamento Não Reembolsável)
• Indirect Investment (Investimento Indireto)
• Tecnova Program
• Mais Inovação Brasil
• Finep Mais Inovação Brasil - Mining Fund
• Defense Innovation Program
• FIP Nordeste Capital Semente
• Energy Transition Fund (FIP)
• Applied Research in Thematic Centers (Pesquisa Aplicada em Centros Temáticos)
• Finep Mais Inovação Brasil - Clean Energy Call
• Regional Economic Subsidy Program (Subvenção Econômica Regional)

Quantifiable outcome

• R$ 36.4 billion in innovation projects contracted in 3 years (2023-2025)
• +3 more outcomes

Named customers14 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Twelve partnerships are on record, tiered core and supporting.

• MCTI (Ministério da Ciência, Tecnologia e Inovação)coreStrategic or Co-development Partner · 16 June 2026Finep operates as funding authority linked to MCTI, jointly announcing programs including Tecnova 2026/2027 (R$ 360 million), Mais Inovação Brasil (R$ 3.3 billion non-reimbursable), and Nova Indústria Brasil (R$ 140 billion).
• Embrapii (Empresa Brasileira de Pesquisa e Inovação Industrial)coreStrategic or Co-development Partner · 16 June 2026Finep and Embrapii both linked to MCTI; MCTI announced R$ 440 million annual contribution to Embrapii in 2026, largest annual allocation since 2013, enabling 550 innovation projects with total value R$ 1.2 billion.
• Viridis and SolvaysupportingStrategic or Co-development Partner · 9 June 2026Viridis partnership with Solvay for rare earth processing cited at IBRAM international seminar as model for Brazil's strategy to move beyond raw material exports toward domestic processing and value-added participation in global supply chains.
• Queen Mary University of LondonsupportingStrategic or Co-development Partner · 21 May 2026Queen Mary University of London sent academic delegation to Brazil to explore research collaboration opportunities in areas including responsible AI, genomics, public health, sensing technologies, and sustainable development. Met with FAPESP and FINEP alongside British Council and UK Science and Innovation Network representatives.
• Sebrae Santa Catarina, Fiesc, and AcatesupportingChannel Partner/ Reseller/ Distributor · 29 April 2026Finep pelo Brasil event in Florianópolis conducted in partnership with MCTI, Sebel Regional Santa Catarina, Fiesc (Federação das Indústrias do Estado de SC), and Acate (Associação Catarinense de Tecnologia) to present R$ 3.3 billion in innovation calls.
• Embrapa (Empresa Brasileira de Pesquisa Agropecuária)coreStrategic or Co-development Partner · 24 April 2026Finep announced R$ 15 million financing to support Embrapa's entry into the Budapest Treaty and modernize infrastructure for storage, cataloging, and conservation of microorganisms of interest to agriculture and food. Positions Brazil as reference for biological material deposits in Latin America.
• OCB (Organização das Cooperativas Brasileiras)supportingChannel Partner/ Reseller/ Distributor · 22 January 2026Finep and OCB signed agreement to expand access of cooperatives to innovation financing through FNDCT resources. This officially includes cooperatives among beneficiaries of the National Fund for Scientific and Technological Development.
• FAPESP (Fundação de Amparo à Pesquisa do Estado de São Paulo)supportingStrategic or Co-development Partner · 1 January 2026FAPESP participated in Queen Mary University of London delegation visit to explore joint research collaboration opportunities alongside FINEP.
• British Council and UK Science and Innovation NetworksupportingStrategic or Co-development Partner · 1 January 2026British Council and UK Science and Innovation Network participated in Queen Mary University of London delegation visit to identify shared research interests and potential joint initiatives with Brazilian institutions including FAPESP and FINEP.
• WEGcoreStrategic or Co-development Partner · 12 December 2025Finep and WEG partnership for innovation and energy transition: over 3 years, Finep supported WEG in 10 innovation projects totaling R$ 281 million, mobilizing over 390 research and innovation professionals in cutting-edge initiatives including BESS manufacturing plant.
• Viridion (Ionic Rare Earths JV)supportingStrategic or Co-development Partner · 12 June 2025Joint venture between Ionic Rare Earths and Brazilian partners secured significant Brazilian government funding from BNDES and Finep to develop rare earth refining and recycling facilities in Brazil, supporting local supply chains for critical rare earth elements.
• PetrobrascoreStrategic or Co-development Partner · 1 January 2025Petrobras and Finep launched a BRL 150 million call for proposals to support domestic industrial-scale electrolyzer development with at least 50% local content requirements. Also launched BRL 30 million call for biorefining and biofuel feedstock R&D projects.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Bpifrance: France's public investment bank providing credit, grants, guarantees, and equity to innovative SMEs and mid-caps. A close functional peer to FINEP given its combined credit, grant, and VC fund-of-funds structure under national industrial policy.
• BNDES: Brazil's largest national development bank and FINEP's most direct operational peer. BNDES and FINEP co-execute the R$ 140 billion Nova Indústria Brasil partnership, share overlapping innovation and VC mandates, and target the same corporate, SME, and ICT segments across Brazil.
• CDTI (Centro para el Desarrollo Tecnológico e Industrial): Spain's public innovation funding entity under the Ministry of Science and Innovation, providing grants and subsidized credit for R&D projects. Directly comparable to FINEP in mission, instrument mix, and policy-bank governance.

Regional players

• IDB Invest: Private-sector arm of the Inter-American Development Bank group focused on Latin America and the Caribbean. Comparable as a regional DFI providing financing and equity to innovative companies in markets adjacent to Brazil.
• Nordic Investment Bank (NIB): Multilateral DFI owned by Nordic and Baltic countries financing innovation, green transition, and SME projects. Comparable to FINEP as a public-policy lender focused on innovation and sustainability, though operating regionally across Europe.

Broad incumbents

• BDC (Business Development Bank of Canada): Canadian Crown corporation providing financing, venture capital, and advisory services to SMEs. Comparable as a national-level DFI with VC and growth equity arms serving innovative companies, though with a more commercial mandate than FINEP's policy-driven model.
• CDB (China Development Bank): China's policy bank financing strategic sectors, infrastructure, and innovation. Comparable in mission alignment with national industrial policy but vastly larger in capital base and focused on credit rather than equity.
• EIB (European Investment Bank): EU-level DFI providing long-term financing for innovation, climate, and SME projects. Comparable to FINEP in its concessional innovation lending, sectoral fund management, and policy-bank status.
• KfW: Germany's state-owned development bank providing subsidized innovation, SME, and climate financing. Comparable to FINEP as a federally chartered DFI managing sectoral and green funds, but at materially larger scale and with broader product coverage.

Emerging players

• Embrapii: Brazilian non-profit linked to MCTI that co-finances industrial R&D projects via accredited research institutions. A domestic emerging peer to FINEP that shares the same ministry linkage and a portion of the NIB mandate, particularly in industrial research.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/finep
• YouTubeyoutube.com/user/FINEPcomunica
• Facebookfacebook.com/finepinova
• LinkedInlinkedin.com/company/finep
• Instagraminstagram.com/finepinova

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments28 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FINEP