President Jair Bolsonaro submitted a Complementary Bill to the Chamber of Deputies that proposes creating a legal framework for startups. The bill, numbered Complementary Bill No. 249/2020, is appended to Complementary Bill No. 146/2019, which also seeks to stimulate startups.
President Jair Bolsonaro submitted a Complementary Bill to the Chamber of Deputies that proposes creating a legal framework for startups. The bill, numbered Complementary Bill No. 249/2020, is appended to Complementary Bill No. 146/2019, which also seeks to stimulate startups.
The proposal allows companies required by law to invest in research, development and innovation to fulfill this obligation by providing resources to start-ups as well as a differentiated bidding model to provide innovative solutions to public entities.
Finally, Complementary Bill No. 249/2020 proposes to reduce the bureaucracy applicable to corporations, allowing mandatory publications to be made electronically for companies with gross annual revenue of up to R$78 million.
Montgomery & Associates' startup team will continue to monitor the progress of this bill.
