Projects aligned with the Regional Research and Innovation Strategy for Smart Specialization (RIS3 Algarve) mobilized, until 31 December last year, 231 million euros of European funds.
The Commission for Coordination and Regional Development (CCDR) of the Algarve dedicates the “Algarve” newsletter to the monitoring of RIS3, with the aim of disseminating the main results of its implementation within the scope of CRESCAlgarve 2020, as well as through other funding programs.
Until December 31 of last year, the 10 analyzed programs represent a total of approved funds of 231 million euros and totaled 3758 approved projects, mobilizing different sources of financing for the implementation of RIS3 Algarve.
About 59% of these projects (2234 projects) are, in their objectives, properly aligned with the domains of RIS3 Algarve.
«Compared to 2020, there was a 15% increase in the total number of projects aligned with RIS3 Algarve», says CCDR.
«In particular in the Algarve Regional Program projects, aligned with RIS3 Algarve, there was a reduction in the number of projects in Axis 2 – Companies and a reinforcement of 4 percentage points (pp) in Axis 1- R&D. However, in the approved fund there was a reduction of 10 pp in Axis 2 and an increase of 10 pp in Axis 1 – now representing almost a third of the total approved fund», he adds.
Investment in research and development (R&D) by companies more than tripled, considering the evolution between 2014 and 2020.
In this period, accumulated expenses totaled 49.539 euros. The relative growth was much higher than that of the other sectors, «giving rise to a notable rise in the sector's representation, from 13,3% to 32,3%, compared to total R&D expenditure carried out in the region».
Still in the Algarve Regional Program projects, in terms of distribution by RIS3 domain, tourism continues to have the highest relative weight (51%), with agri-food taking the second sector with 15%. As for the number of projects, tourism recorded a decrease of 2 percentage points (pp) to represent 37% of the total, followed by the sea sector, which rose 4 pp, now representing 17% of the total.
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