The role of the state in innovation from its instruments: An analysis of the Plano inova empresa

Abstract

The present paper aims to analyze the role of the State in Brazil in stimulating innovation activity by means of a policy instrument named Plano Inova Empresa, which was launched in 2013. The text discusses how the Brazilian government has implemented such a mix of tools to induce and foment innovation activity in the business sector, with all the risk and uncertainty that prevail in this type of endeavor. The analysis makes it is clear that, despite having designed an advanced innovation policy, the government ended up leaving behind such public policy that could have induced effective changes in the behavior of companies. This is believed to have happened because the program lacked tools for mitigating risk and uncertainty.