Summary:
€3 million contest launched by Algarve 2030 for innovative business projects
Support of up to 80% for R&D&I initiatives
Encourages cooperation between SMEs and large companies
Applications open until May 30, 2025
Focus on industrial research and high-tech production
Algarve 2030 Launches €3 Million Contest
The Algarve 2030 Regional Program has opened a contest with a total allocation of €3 million, offering a maximum support rate of 80% to finance business projects focused on Research, Development, and Innovation (R&D&I). This initiative aims to encourage companies in Algarve to develop activities ranging from research to the market introduction of new products or processes, enhancing productive innovation through cooperation between businesses, including SMEs and large companies.
Objectives of the Contest
The goal is for Algarve companies to make innovative investments, which could involve:
- Establishing a new facility
- Expanding the capacity of an existing facility
- Diversifying production to include previously unproduced products or services.
Application Details
Phase 1 applications for this contest are open until May 30, 2025, at 18:00. Eligible activities include:
- Industrial research
- Experimental development
- Production of high or medium-tech goods or knowledge-intensive services with a focus on marketability or internationalization.
For more details and specific conditions to access this European funding, visit: Algarve 2030 Announcements
Source: CCDR Algarve
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