Brazilian path to innovation economy

Abstract

The article discusses the process of emergence and development of an innovative economy in Brazil. The focus of the study is the policy of the state in the field of science, technology and innovation, including the innovation strategy, as well as the methods and mechanisms used in solving emerging problems. Particular attention is paid to the involvement of private companies in the innovation sphere and their comprehensive support in the creation of new products and services, including the issues of financial incentives for their activities. The issues of developing higher and postgraduate education, as well as the activities of research institutes and the creation of scientific departments in private companies are analyzed. The qualitative changes that took place at the turn of the century in the state policy to support private companies and in the position of entrepreneurs in the innovation sphere, which led to the rise of innovation, are considered. The author's task was also to find new drivers of innovative development, primarily related to the market. One of these drivers was the rise in venture capital investments in 2019-2022. Thanks to the high dynamics of investments, Brazil has taken a leading position in the region in terms of their volume.