Creating a venture ecosystem in Brazil
Subtitle: FINEP's INOVAR project
By: Ann Leamon, Josh Lerner
Contributors: Lerner, Joshua; Harvard Business School
Series: Working paper / Harvard Business School -- 12-099; Working paper (Harvard Business School) -- 12-099.
Publisher: Harvard Business School
Published: 2011
Place of publication: [Boston]
Language: eng
Number of pages: 26
Description: In 2000, the Brazilian government’s Agency for Innovation (Financiadora de Estudos e Projectos, or FINEP) with support from the Multilateral Investment Fund (MIF) unveiled a program to address these needs. FINEP had spent a year assessing the obstacles and challenges that confronted technology-based small and medium-sized enterprises (SMEs). The result was the program called INOVAR (Innovation). In the 12 years since INOVAR’s debut, the program has had two iterations (INOVAR I, from 2001-2006, and INOVAR II, from 2007 – 2012) and has been recognized as a role model for government efforts to stimulate a venture capital ecosystem. In many cases, this paper will discuss the two phases as a single entity, largely because the two merged quite naturally. We present here a brief background on private equity in both Latin America and Brazil, and then explore the genesis of INOVAR, the details of the program, and its results. The paper concludes with challenges to be addressed.
Notes: "May 2012" -- Publisher's website.

Includes bibliographical references.