Kenneth Rapoza – Forbes, 8/22/2012
The Brazilian government said this week that it intends to spend upwards of R$500 million ($250 million) on information technology projects and start-up support over the next three years in an attempt to create home grown high pay, high value companies in the tech space.
“Brazilian software should be globally competitive,” Minister of Science, Technology and Innovation Marco Antonio Raupp, said in a press release on Tuesday. In São Paulo, Raupp said the government wanted software production in Brazil “to grow at a very high rate in order to attract foreign resourcesto the country, generate income for businesses and create skilled job positions for Brazilians.”
Part of the funds will be used to help start-up companies by paying for mentors, helping with angel funding and providing technological consultants for newcomers. Funds will also be used as grants for university research institutes and high tech incubators like those in the northeastern state of Pernambuco. Other benefits will include tailored market access programs and preference with government contracts.