Inovacred Expresso offers up to R$15 million without bureaucracy and with a grace period of up to two years for technology-scientific companies
The Government of São Paulo offers support to boost startups' businesses in the state. DesenvolveSP, linked to the Secretariat of Economic Development (SDE), has worked to reduce bureaucracy in credit lines for these techno-scientific companies. With amounts ranging from R$20,000 to R$15 million for each project, Finep Inovacred Expresso facilitates access to resources for any size of enterprise.
Innovation activities are under the purview of the Secretariat of Science, Technology and Innovation (SCTI), which, in partnership with the Economic Development Department, aims to attract the largest possible number of good businesses that need financial support to expand their businesses. The specific line for this area of activity is Finep Inovacred Expresso, whose main feature is the simplification of the process.
The financing includes a TR (reference rate) + taxation of 4.24% to 5.58% per year, an attractive rate considering the reality of the financial market in relation to the granting of credit of this nature. The financing term is up to six years, with a grace period of up to two years. “Our goal is to increase the distribution of credit to boost the growth of innovative ventures, generating economic and social benefits for the innovation sector in the state of São Paulo,” says Vahan Agopyan, secretary of SCTI.
Innovative system
The credit in question has already started to ensure that good ideas transform people's reality. One example is the robotic access control system created by the startup Home Book Portaria, based in the city of Campinas, in the interior of the state. With the money, the company invested in an innovative security system for entrances.
The system in question has facial biometrics functionality with expression reading that identifies, for example, if a resident of a certain condominium is in a dangerous situation – being the victim of an express kidnapping, for example. With the support, the company developed the prototype, acquired equipment and hired specialized labor.
Startups can apply for credits whether or not they are linked to the state government's innovation environments. To apply for this financial contribution, which is characterized by the simplest requirements and without the need to provide guarantees, companies must have annual revenues between R$1,000,000 and R$1,000,000. It is worth remembering that individual microentrepreneurs (MEIs) with annual revenues of less than R$1,000,000 have access to the People's Bank of São Paulo, which offers productive microcredit ranging from R$200 to R$21,000.
For more information and requests, visit: https://www.desenvolvesp.com.br/empresas/opcoes-de-credito/projetos-inovadores/inovacred-expresso/ .
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