09/19/2024 – 11:55
The Ministry of Communications will contribute R$317 million to the Fund for the Technological Development of Telecommunications (Funttel). The objective is to strengthen the fund that serves to encourage technological innovation projects in the telecommunications area among small and medium-sized companies in the sector.
The funds will be allocated to the Brazilian Studies and Projects Financing Agency (Finep) and the Brazilian Development Bank (BNDES), which are the fund’s financial agents. The contract with Finep, worth R$158.5 million, will be signed by Minister Juscelino Filho this week. The remaining funds should be officially transferred to BNDES by the end of this month.
“Funttel’s resources are geared towards technological innovation, promotion and access to capital resources by small and medium-sized companies to increase the competitiveness of the Brazilian telecommunications industry. With this, we will generate more jobs and improve our productivity. We are building the new Brazilian industry and, for this, we need a lot of support for research, especially in this sector,” Juscelino Filho told BroadcastGrupo Estado’s real-time news system.
Funttel’s revenues come mainly from contributions on the gross revenue of telecommunications service providers. In 2024, 21 projects received R$168 million in resources from the fund, through Finep. Credit lines range from TR + 6% to TR + 8.5%, with a grace period starting at 36 months.
In addition to the credit lines, Funttel resources can also support the acquisition of equity interests in innovative Brazilian companies that develop strategic and/or relevant technologies for the telecommunications sector, through FIP Inova Empresa, as well as innovation in small technology-based companies, through the Finep Startup program.
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