Investimentos de base territorial - Inovação e modernização e criação de novas empresas e negócios (Algarve)

Description

The grant aims to support the creation and expansion of micro and small enterprises in the Algarve region by fostering investment in innovative and modern business operations. This initiative focuses on boosting local employment, enhancing economic resilience, and contributing to the diversification and modernization of the regional economic base .

Type of Project

• Creation of new micro and small enterprises
• Expansion or modernization of existing micro and small enterprises
• Projects promoting the diversification of the regional productive base through innovative activities

Eligibility Criteria

• Beneficiaries must be micro or small enterprises
• Projects must be located within the Algarve region
• Operations should contribute to employment, modernization, and local economic resilience

Eligible Expenses

• Amortizable expenses included in the company's assets such as equipment and IT software
• Intangible assets including transfer of technology such as national and international patent rights, licenses, and specifically developed software
• Studies, diagnostics, marketing plans, and architecture and engineering services essential for the project implementation

Examples of Eligible Projects to be developed

• Setting up a new technology company developing innovative software solutions in Algarve
• Expanding an existing textile manufacturing business to incorporate eco-friendly materials and processes
• Modernizing a local food processing company to enhance production capacity and export potential

Financial Information

• Total budget for the grant: 5,000,000€
• Co-financing percentage: 60%
• Maximum funding per company: 200,000€