Fostering innovation is one of the key challenges Brazil faces as it emerges as a player in the global economy. In the twentieth century, Brazilian scientists and research institutions developed and established the country’s capacity to produce state-of-the art knowledge in various fields.
Innovation, or the ability to apply knowledge in the development and production of goods and services, however, remains largely absent in many sectors of the economy. To address this issue the country needs to advance public policies on science and technology that translate the country’s strong research base into products and services that benefit consumers and society at large. Better public policies create incentives and foster the necessary environment that will support companies in their effort to turn ideas into competitive products and services.