The first notices of the Portugal 2030 Incentive Systems, which provide 10 million euros for innovative projects of micro, small and medium-sized enterprises (SMEs) in the Algarve, have already been launched.
The 10 million euros are intended to support investment projects in the Algarve that contribute to improving the productive capacities of SMEs and to the development of innovative, digital and sustainable solutions, mainly based on R&D results and an increase in qualified employment.
The intention is to stimulate business investment of an innovative nature, promoting a change in the specialization profile of the economy and strengthening its external competitiveness, through differentiation, diversification and innovation.
The investments to be supported must aim at the production of new goods and services, or significant improvements in current production, through the transfer and application of knowledge.
Alternatively or in addition, they may also aim at adopting new, or significantly improved, manufacturing, logistics and distribution, organizational or marketing processes or methods.
Projects must include an investment amount between 250 euros and 25 million euros, and the support fee can go up to 40% of the eligible, non-refundable cost.
For example, tangible assets can be supported, including the acquisition of machinery and equipment, provided they are directly related to the company's innovation project.
The application period extends until the 15th of December, divided into 4 phases.
For more detail, see here.
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