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Legal framework of Startups advances to Congress with the objective of encouraging Entrepreneurship

Among other points, the bill facilitates the participation of startups in public procurement processes


Legal framework of Startups advances to Congress with the objective of encouraging innovative entrepreneurship in Brazil
PLP 249/20 establishes the principles and guidelines for the performance of the sector with the public administration - Photo: Agência Brasil

Oct 25, President Bolsonaro sent Complementary Bill (PLP) No. 249 of 2020 to the National Congress, which “establishes the legal framework for startups and innovative entrepreneurship”. The bill was signed by the Minister of Science, Technology and Innovations, Marcos Pontes and by the Minister of Economy, Paulo Guedes in a partnership built between the two ministries to encourage innovative entrepreneurship in Brazil.


PLP 249/20 establishes the principles and guidelines for the performance of the sector with the public administration and aims to present measures to promote the business environment and increase the capital offer for investment in innovative entrepreneurship.



Among other points, it also highlights the incentive to the hiring, by the public administration, of innovative solutions elaborated or developed by startups, recognized the role of the State in the promotion of innovation and the potential opportunities of economy, benefit and resolution of public problems with innovative solutions.



According to the executive secretary of the Ministry of Science, Technology and Innovations, Julio Semeghini, the Bill is fundamental to improve the regulatory environment related to startups, with relevant points such as “reducing bureaucracy, for example, the exemption from publication of balance sheets for S / As with revenues below R $ 78 million; creation of mechanisms that facilitate startups to participate in public procurement processes; regulation of the concept of 'angel investor', which can contribute resources to the company, but is not part of its share capital; introduction of the concept of 'regulatory sandbox', which allows Public Administration bodies to relax rules and regulations for testing innovative solutions ”, he quoted.



The Complementary Law Project No. 249 of 2020 was initiated by the Chamber of Deputies and is subject to appreciation by the plenary of the House.




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