This case presents the trajectory of Polinato - industry leader in the polyurethane formulation segment - and its ability to develop innovative and customized products. Innovation is a strategy that keeps the company in the lead. However, the profitability resulting from its innovations is below expectations. To maintain and refine the innovative capacity while ensuring profitability, the company recently requested financing to partially cover a bold Development Research Project. The dilemma facing the company’s partners is the decision on whether to sign the contract and commit to the financing, which will accelerate the company’s innovation processes, or not to take the financing and innovate at a slower pace instead, avoiding the heavy financing fees. It is hoped that this teaching case will promote reflection and discussion on strategy, competitiveness and innovation. It is designed for use in disciplines related to the themes of innovation, strategy and entrepreneurship.