Reprogramming of Portugal 2020
Following the Rescheduling of Portugal 2020, announced by the Government on 10/12/2018, the Specific Regulation for the Competitiveness and Internationalization Domain was republished.
At the level of Business Incentive Systems, the reprogramming changes the financing patterns of the Typology of Business Innovation and Entrepreneurship. This amendment is based on the creation of a new form of financing, assuming the incentives to grant a hybrid format:
- Non-reimbursable incentive, associated to the benchmarking of results in relation to the objectives achieved;
- Financial guarantee instrument (under the same conditions as the previous repayable incentive (capital repayment and interest exemption).
Percentage of Incentive:
Between 15 and 75%
· 50% of the total value through a non-refundable subsidy, to be awarded under the IS Innovation and Qualified and Creative Entrepreneurship;
· 50% of the total amount through an interest-free bank loan linked to a financial instrument financed by Portugal 2020.
The non-reimbursable incentive component is allocated on a non-definitive basis until the evaluation of the project results, depending on the degree of fulfillment of the contractually set goals.
Non-SMEs and projects with eligible investment of more than EUR 15 million can not benefit from the repayable component.
Credit institutions issue an opinion on the assessment of the financial and economic risk of the company and the investment, as well as its creditworthiness.
In the event that the Credit Institutions do not approve the financing operation requested by the company, the projects will not be considered eligible under the Innovation for lack of coverage of the project financing.
Contact the IAFE for further clarification:
Tel: +351 229 773 910
Telm: +351 93 400 92 63