The “Portugal Inovação Social” program, which has 4,8 million euros to invest in the Algarve, in the areas of entrepreneurship and social innovation, already has applications open.
This notice is aimed at projects for sustainability, innovation and social experimentation, to be implemented through the partnership program for impact, one of the instruments of the Portugal Inovação Social Initiative.
The objectives are to «support the dynamism of social entrepreneurship and foster innovative local approaches to social development and promote local strategies for active inclusion», explains the Algarve's Regional Coordination and Development Commission (CCDR).
In line with the specific objectives of CRESC Algarve 2020, the financing instrument partnership program for impact aims to stimulate the creation, development and/or growth of Innovation and Social Entrepreneurship Initiatives (IIES) with high impact potential, promoting their robustness operational and financial, and streamline the practice of social investment by leveraging private or public financing of social investors and deepening their vocation of impact philanthropy, which implies multi-year financial support for initiatives, providing monitoring and requiring measurement of results and promotion of its financial sustainability.
In this context, the partnerships for impact program pursues the dual objective of stimulating the development of IIES and boosting the practice of social investment. These two objectives are achieved through a non-reimbursable support model for the IIES whose potential to create value for society is high and which has guaranteed co-financing by social investors.
For this purpose, HEIs with a development plan of between one and three years are considered eligible, and the eligible costs of this plan are financed in an amount greater than 50 thousand euros of non-refundable grant corresponding to 70% of their net financing needs. remaining financing supported by social investors, under the terms set out in the aforementioned notice.
For this first notice, CRESC Algarve2020 has reserved an allocation of 2 million euros, with the public contribution of the eligible expenditure being shared by the European Social Fund - ESF (80%) and by the National Public Contribution (20%), to be placed by the social investor, which may be a municipality, a company or an association, and applications must be submitted at Balcão 2020 by 18:00 on 4 September.
The notices corresponding to the other typologies of the Portugal Inovação Social Initiative will have a similar total allocation, as announced by Maria Manuel Leitão Marques, Minister of the Presidency and Administrative Modernization, in Faro.
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