3,5 million euros want to support Algarve companies

They come from the European Regional Development Fund

Credits: Depositphotos

New tenders are open to support, with a total of 3,5 million euros, the competitiveness and internationalization of Algarve companies. 

In terms of competitiveness, CRESC Algarve 2020 launched new notices to support companies for investments in the areas of internationalization, research and technological development, entrepreneurship and qualification.

Of the open notices, "the one relating to Qualified and Creative Entrepreneurship and Productive Innovation stands out, which operationalizes the mechanism for receiving requests for assistance referred to in article 26 of the RECI - Specific Regulation for the Domain of Competitiveness and Internationalization, in periods that do not calls for tenders are open for the submission of applications», explains the Algarve's Regional Coordination and Development Commission (CCDR).

In this context, "investment projects can only receive public support if the beneficiary has submitted, in writing, a request for aid, prior to the start of work, thus demonstrating that the support has an incentive effect", he adds.

Through the aid registration and taking into account the existence of business innovation investment situations that are urgent to be initiated to take advantage of market opportunities during periods of time in which notices for the submission of applications are not open, and that require financing of Portugal2020 for its implementation, it will be possible to consider these investments in the subsequent call for applications to the Business Innovation.

In global terms, the new notices provide another 3,25 million euros for companies in the Algarve region, from European Union funds, to be granted through the European Regional Development Fund (ERDF).

Further clarification can be obtained via email: [email protected] All open tender notices are available here

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