December 20, 2019

Program for Innovation in Paraguayan Enterprises (PROINNOVA)

Country
Americas
Policy/Program
Description of the core change(s) brought by this policy instrument

Paraguayan Innovation Program (PROINNOVA) is a framework of different instruments aimed at a) fostering innovation and b) strengthening human capital for innovation. Through 9 different instruments, PROINNOVA reaches out to entrepreneurs, companies, business incubators and technology development centers, universities and higher education institutions as direct beneficiaries.

Please list the implementing agencies

The National Council of Science and Technology (CONACYT).

Lifecycle of target firms for this policy instrument
Existing SMEs
Scale-ups
Start-up firms
If you marked "start-up" and/or "scale-up" firms, please provide the specific definitions used

Each of the 9 different instruments has specific target beneficiaries. For example:

  • Funding program for the Validation of Entrepreneurship Proposals: applicants must be sponsored by a CONACYT-accreditted incubator which will guide the validation process over 4 months for technical validations and over five months for business model validations.

    • Amount to be awarded: The PROINNOVA Program will be able to fund up to 80% of the total cost of the validation proposal, with a maximum of PYG 23,000,000 (Guarani local currency).

    • The sponsoring incubator will in turn receive PYG 2,300,000 for each validation, to provide pre-incubation and tracking services.

  • Funding program for the Creation and Launch of Technology-Based Enterprises" (EBT program) is open to entrepreneurs and new companies (no older than 18 months since the first issued invoice). The purpose of this instrument is to support the development or the application of scientific and technological knowledge in the core startup product.

    • Succesful applicants receive up to 80% of the total amount of the proposal (maximum PYG 145,000,000). The beneficiary company will have to contribute the remaining 20% of the project. 

Support offered
Direct Financial Support
Non-financial Support
Level of intervention
Entrepreneur-level
Firm-level
Barrier(s) addressed with this policy tool
Access to Capital
Ecosystem Engagement/Coordination
Policy timeline

PROINNOVA was approved as a five-year program by Law No. 5880/2017, to boost the productivity of the Paraguayan economy by fostering the growth of investment in applied research and innovation, and increasing the quality and quality of advanced human capital for innovation. 

The first calls for funding proposals to entrepreneurs were announced in 2019.

Notes and additional context

The PROINNOVA program is aligned with the strategic pillars of the 2014-2030 National Development Plan, as it refers to inclusive economic growth and connecting Paraguay to the world.

The five-year program is funded through a USD 10,000,000 loan provided by the Inter-American Development Bank.

Geographic scope
National-level