Young Investor
INVESTMENT FROM 15,000 TO 350,000
Incentive (non-refundable allowance)
45% to the islands of S. Miguel and Terceira.
50% to the islands of Faial and Pico.
55% to the islands of Santa Maria, Graciosa, S. Jorge, Flores and Corvo.
Execution prize can be added up to a maximum rate of 60% for medium-sized companies and 70% for small-sized companies.
5% increase for projects by companies incubated in the Azores Business Incubator Network, which aim to set up in an establishment outside the incubators.
Object
Investment projects in newly created companies (less than 2 years ago) by young people that carry out activities in sectors with strong growth dynamics and that contribute to the diversification and renewal of the business framework, encouraging and strengthening a business culture based on knowledge and innovation.
Beneficiaries
Individual Entrepeneurs (ENI), Companies 100% owned by young people (aged between 18 and 40 years old at the date of submission of the application, that create their own job and dedicate themselves under a declaration of commitment to the management of the business and have, exclusively, representation of the commercial company).
Beneficiaries elegibility
- Fulfill the general access requirements of DLR No. 20/2023/A of May 31;
- Comply with the SME criteria;
- Demonstrate, through an interview during the application analysis phase, that the beneficiary has appropriate technical and management capabilities for the size and nature of the project;
- Do not submit a new application for the same establishment.
Operations elegibility
- Fulfill the general acess requirements of DLR No. 20/2023/A of May 31;
- Be supported by a strategic analysis and an economic-financial feasibility study, prepared by an accredited professional who, in addition to demonstrating the economic and financial viability of the investment, identifies the critical areas of competitiveness for the market in which it operates, providing the basis for the options of investment considered, and include a plan for hiring and training human resources that is consistent with the investment to be made;
- The operations must have a maximum duration of execution of 2 years, counting from the day of the decision notification;
- The minimum percentage of own capital is set at 10%.
Expenses elegibility
- Construction and rehabilitation of buildings, and other constructions and rehabilitations up to 60% of the eligible investment;
- Construction and rehabilitation of buildings, and other constructions and rehabilitations as long as they meet the requirements of sustainable construction based on technical criteria;
- Acquisition of goods and equipment, including transportation, insurance, assembly and disassembly;
- Acquisition of vehicles and other transport equipment for projects promoted by tourist entertainment companies (up to €40,000 for a light vehicle and up to €250,000 total) and light and heavy goods vehicles and other transport equipment, up to 30% of the eligible investment with a maximum value of €200,000 provided that:
- The vehicles do not have combustion engines that run on fossil fuels;
- They are essential and appropriate to the exercise of the activity;
- They are not intended for rental without a driver.
- Acquisition of services inherent to the implementation and certification of management systems, products and services, namely expenses with the certifying entity (for a certification cycle), specific technical assistance, testing and measurement and monitoring devices, calibrations and dissemination actions, provided that the tests are carried out by laboratories accredited by the Portuguese Quality System;
- Hardware and software, including initial website development;
- Expenses related with the creation and development of badges, brands and own collections, designs, models and patents, as well as expenses with the valorization of brands, acquired badges, created or constituted, up to a limit of 15% of the eligible investment;
- Development of the marketing and communication plan, up to a limit of 10% of the eligible investment, with a maximum value of €25,000;
- Costs associated with patent and trademark registration applications, namely fees, emoluments, renewal, research related to the state of the technique, design and production of prototypes of the technologies developed and consultancy fees on industrial property matters in the instruction phases processes, as well as their valorization, namely in licensing processes, technology transfer and support for the creation of companies emerging from them, up to a limit of 15% of the eligible investment;
- Services related to web presence, namely, initial domain registration, Marketplace membership and other electronic platforms, creation and publication of electronic catalogs of products and services, as well as inclusion and/or cataloguing, up to a limit of 10% of the eligible investment;
- Development of the application process, studies, diagnoses, audits and marketing plans up to a limit of 1,5% of the eligible investment;
- Architecture and engineering projects, or others associated with the project, up to a limit of 3% of the eligible investment;
- Preparation of payment requests with the intervention of Certified Accountants up to a limit of 1,5% of the eligible investment;
- Studies or reports within the scope of the "do no significant harm" principle, up to a maximum value of €5,000;
- Acquisition of used goods, except the acquisition and recovery of antique furniture, artefacts and decorative elements within the scope of investments in rural and residential tourism.
Beneficiaries obligations
- Affect the project to the activity and geographical location for a minimum period of 5 years, starting from the date of payment of the final balance;
- Do not exclude or overload, for any reason, the project or equipment to which the project relates without authorization from the managing authority;
- Start implementing the project within a maximum period of 90 working days, counting from the date of notification of the decision.