On 1 June 2021, the Brazilian President sanctioned Complementary Law 182/2021 ("Legal Framework for Startups"). The main goal of the new law is to promote and encourage innovative entrepreneurship in the country, focusing on the growth of startups as a path to economic, social, and environmental development; and the modernization of the Brazilian business environment. In addition, the new law promotes cooperation and interaction between the public and private sectors, between public entities and private companies, as fundamental relationships for the development of an innovative entrepreneurship ecosystem. The Legal Framework for Startups will come into force in early September 2021 and should be celebrated as a relevant move toward a more secure legal environment that encourages investment in innovative entrepreneurship.