Particularities in financing tools: A case study of an Agency for Science, Technology and Innovation of Rio de Janeiro State, Brazil

This work aims to analyze the objectives and interactions of innovation financing tools from a point of view of a technology, research and innovation foundation. It brings as subject the case of the Technology, Research and Innovation Foundation of the State of Rio de Janeiro (FAPERJ), and its incorporation of a Technology Board. Working side by side with a Scientific Board, it faces the challenge of interact, finance, and boost innovation, whereas the Foundation carries more than 40 years of basic research funding (1980 until 2019) the financing of innovation activities was incorporated in 2002. With the R&D activities in Brazil centered on public University, Research Institutes and only a small presence in companies (only 5% of the innovative companies perform R&D), FAPERJ’s faces the challenge of create financing tools that improves the interaction between these actors. The sample analyzed in this study relates the eligibility criteria used in the FAPERJ’s Technological Development Support (ADT) with similar and inspiring program, the United States of America Small Business Innovation Research (SBIR). As result, we have found the lack of incentives for interaction between universities and business sector, showing that only a small part of the projects financed by FAPERJ can reach the commercialization.