Intended for technology-based companies, the value made available by the Portugal Tech program can grow with the capture of private investment.
The Ministry of the Economy, through the Development Finance Institution (IFD), and the European Investment Fund (FEI) signed this Wednesday the agreement that officializes the new Portugal Tech program.
The initiative aims to mobilize a total of 100 million euros for investment in technology transfer projects, startups and Portuguese SMEs. The entities allocated 50 million euros each to the program. More specifically, the national component is provided by IAPMEI.
In addition to this amount, the goal also includes an additional 40 million to 100 million from private and institutional investors. This allows companies to "access a new capitalization mechanism through venture capital," the Ministry of Economy said in a statement sent to the companies.
"Portugal Tech will be able to capitalize up to 70% of venture capital funds and technology transfer, as long as they are able to raise the remaining 30% from private and independent investors," the statement said. initiative was presented.
According to the Deputy Minister of Economy and Economy, Pedro Siza Vieira, this program "is an important milestone, since it allows to have a wide scope instrument, both in terms of size of companies, from startups to SMEs, and in terms of sectors who can receive investment ".