Monchique launches Prize for “Business Ideas”

Monchique launches Prize for “Business Ideas”


The city council of Monchique is promoting the Ideas Award ‘Monchique creative and entrepreneurial” business. This initiative of the city has as objective "the capture of business ideas and the development of the spirit of initiative of an entrepreneurial nature", in the municipality.

Bearing in mind a new reality, the municipality encourages «the creation and development of business ideas, supporting the economic dynamism of the municipality. Opportunities arise from crises, and it is with this premise and with this opportunity that the Chamber launches and promotes this prize and hopes that new opportunities may arise even in the face of restrictions, fears and uncertainties and that changes in behavior in the face of the pandemic can be taken advantage of, to redesign new projects. The digital age is here to stay and it is hoped that this new trend will be a lever for new ideas, creation and entrepreneurship ».

The prize is divided into categories. Individuals over 18 years of age can compete for the “Innovation” award, individually or in groups. As for the “Traditional Arts and Crafts Recovery Award”, natural persons aged between 18 and 36 years old with training in the profession to be developed can participate. «One of the main focuses of this initiative is the support for a short list of activities considered traditional, and the recovery of old professions such as shoemakers, tailors, barbers».

The winning idea of ​​the “Monchique creative and entrepreneurial” Prize will be entitled to a monetary prize of € 2,500 that will be made available in two fractions: € 500, on the day the prize winner is presented; € 2,000, with the presentation of a copy of the Declaration of Initial Activity, until the end of the first year after the year of the award, demonstrating the business implementation of the project.

The deadline for submitting applications is until March 31, and can be delivered to the Monchique chamber or sent by registered post with acknowledgment of receipt, as long as the entry stamp at CTT does not exceed the deadline.

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