There were 13 applications received in the context of the second contest «Partnerships for Impact» that Portugal Inovação Social opened in the Algarve region, representing 2,3 million euros in funding.
The competition, which ended on 6 June, is intended to finance, through European Union funds from the CRESC Algarve 2020 programme, innovative projects that respond to social challenges in the areas of Education, Employment, Social Inclusion, Justice or Health.
This is the second competition that Portugal Inovação Social has opened in this territory, having approved, under the first one, eight projects with a total of 1,4 million euros of public funding. This time, the 13 projects request a total of 2,3 million euros of public funding.
The projects submitted cover practically the entire Algarve, with 10 applications to be implemented in a single municipality and three at a multi-municipal level. Most applications (9) are promoted by entities based in the Algarve (Albufeira – 1, Olhão – 1, Faro – 3, Alcoutim – 1, Castro Marim – 1, Tavira-1, S. Brás de Alportel – 1), the remaining (4) being based in the Lisbon and Porto regions.
The financing instrument «Partnerships for Impact» has the dual objective of, on the one hand, stimulating the development of innovation and social entrepreneurship initiatives and, on the other, stimulating the practice of social investment in Portugal.
Thus, this instrument guarantees the financing of up to 70% of the project's total cost, and one or more social investors – public or private – must support the remaining 30%.
In this case, municipalities and parish councils represent the largest share of social investors in the applications submitted.
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