1. Entrepreneurship
Funding Innovation
Class # 9
2017

2. Premises in the creation of companies
Agenda
Premises in the creation of companies
Concepts: definitions, stages of company development, types of investors and ways to exit
Useful websites

3. Premises in the creation of companies
Financial Factors of New Business Success:
Equity or positive leverage operation (efficient use of third-party capital)
Reinvestment of profits
Low capital immobilization
Control of indebtedness
Capitalization of the company 3

4. Premises in the creation of companies
Financial Factors of New Business Failure:
Excessive immobilization of fixed assets (delays ROI and makes business vulnerable to production-sale swings)
Uncontrolled customer credit
Poor financial management and no cost control (operating deficit, lack of working capital)
Very optimistic forecast of sales at the beginning of the business
Indebtedness (especially in phases of economic instability) 4

5. Premises in the creation of companies
Alternatives for reducing initial immobilization:
Rental of assets (office, machinery);
Leasing of equipment
Negotiation with suppliers, payment terms, support in market development (partnerships or subsidies in the price of material and / or marketing)
Gradual growth, if possible, with equity or low leverage
Use cheaper credit lines (there are non-refundable credits or lost funds for certain investments) 5

6. Financing life cycle of the companies
Revenue
Consolidation
IPO – Stock Exchange
Expansion
Venture capital
Sources of Government
Start –up
Angels
Seed money
Idea
Incubator
Entrepreneur
Friends
Time 6

7. Useful websites
Anjos do Brasil – Platform for angel investors and entrepreneurs
Catarse – Crowdfunding
Portal Inovação – MDIC
Protec – Brazilian Society for Technological Innovation
BV/Cdi/FAPESP - Virtual Library of the Documentation Center of the Foundation for Research Support of the State of São Paulo
Investe São Paulo 7

8. Useful websites
Sebrae
FINEP
Endeavor
Anprotec
BNDES 8

9. BNDES – Loans and lines of credit
Finame (machines)
BNDES-automatic
Exim (export)
Finem
FGPC: Guarantee Fund for micro and small enterprises or for medium-sized enterprises exporting
RHAE: support researchers 9

10. FINEP – Funding Agency for Studies and Projects
Non-reimbursable funds: technological approach; Resources of the Sector Funds of the MCT -14 areas- only for nonprofits
Reimbursable funds: from other sources or from FINEP itself
Venture Capital: Inovar Project (early 2000)
TJLP + 2% to 6%
Eligible beneficiaries: SMEs, incubators, technology parks 10

11. Fapesp PROGRAMS: Assumption: Technological innovation and research
Predominance of non-refundable capital
PROGRAMS:
Biota (biodiversity and sustainable use in the State of São Paulo)
Cepid (research in fields of knowledge)
Genome (genetics)
PIPE (small business)
PITE (interaction institutes research-companies)
Public policy
TIDIA (TI) 11

12. Fapesp - PIPE
Researches of technological innovation in small companies (up to 100 employees) in SP. Company should employ researcher
Phase I (up to R$ 80,000): technical and commercial feasibility studies
Phase II (up to R$ 300,000): execution (term of two years)
Phase III: commercial implementation (instructional support and funding)
Venture Capital Search: Innovate (Finep) and Endeavor (NGO)
Projects approved in website (more than 150) 12