Portugal Ventures aims to invest, between €150,000 up to 1.5 million euros in tourism projects. Submissions to Call Turismo +Crescimento are open until 30th April.
Call Tourism +Crescimento intends to invest in projects/companies that contribute to:
- Increase the competitiveness of the country’s tourist offer;
- Enhance the tourist experience in Portugal;
- Improve the efficiency of businesses in the sector.
The following projects are eligible:
- capital injections into companies that promote the growth of tourism, through expansion and internationalisation projects or projects to improve competitiveness and which have already begun to produce/market their products/services;
- build up operations aimed at mitigating the atomization of the sector, be means of the merger and consolidation of companies, through intervention models that enable, from a venture capital perspective, the aggregation of back-office functions (finance, procurement, human resources management) and the creation of business synergies, albeit with degrees of relevant business autonomy.
Projects that contribute towards the Sustainable Development Goals (SDGs), offering solutions that encourage the dematerialisation of processes and services, the recycling, reuse and reduction of waste, integrate clean energy, improve energy and water efficiency, and smart mobility solutions, as well as those located in low-density regions, will be given priority.
Incorporated companies or those to be incorporated, the projects of which must be an original idea of the founders, must have one or more of the following characteristics:
- Are located in Portugal (mainland and islands);
- Have a multidisciplinary team that can meet management needs;
- Are involved in the 360-degree Tourism Companies Programme
- Contribute to the benefits associated with the SDGs – Sustainable Development Goals (ESG – Environmental Sustainable Governance) by offering solutions that encourage:
- the dematerialisation of process and services (e.g. App key instead of a key card, glass cups, amenities dispenser instead of single-use bottles, etc.)
- the recycling, reuse and reduction of waste (recyclable and bio-waste)
- integration of clean energy (e.g. solar panels);
- improve energy efficiency (of equipment, processes and materials by reducing heat loss, efficient equipment, etc.)
- improve water efficiency (efficient flow reduction/management, harness water, circular or integrated water circuits, etc.)
- smart mobility (partnerships with local agents, offering eco-friendly equipment = soft mobility, etc.).
Incorporated companies must also:
- Not have operated for more than seven full financial years;
- Not be deemed “undertakings in difficulty”, as defined by Commission Regulation (EU) No. 651/2014 of 17 June. Consolidation operations are included and restructuring operations are excluded.
- Fulfil the legal requirements for carrying out the respective activity, namely are duly licensed for such purpose and are registered with the Portuguese National Tourism Registry.
- Keep accounts, have a balanced economic and financial situation and have no amounts outstanding to the Tax Authorities and Social Security.