Portuguese Government launches measures to support startups worth 25 million

Portuguese Government launches measures to support startups worth 25 million

22 april 2020

This Tuesday, the Portuguese government presented seven new measures to support the entrepreneurial ecosystem, worth 25 million euros, and aimed at supporting the more than 2,500 Portuguese startups.

“So that the more than 2,500 Portuguese start-up companies can overcome the consequences of the OVID-19 pandemic and resume normal activity after this exceptional period,” the government said in a statement sent to the editorial staff, which presented “a total of seven measures” to help the sector.

These measures, whose overall value is “more than 25 million euros”, could represent, according to the government’s estimate, “an average of 10,000 euros of potential support for each start-up”. And what are these measures?

1) StartupRH Covid19: financial support through an incentive equivalent to a minimum wage per employee (up to a maximum of 10 employees per start-up).

2) Extension of the startup bonus: Extension for 3 months of the benefit of the previous grant already awarded (2,075 euros per employer job).

3) Incubation bonus – COVID19: Support for companies under 5 years of age, by contracting incubation services based on a non-refundable incentive of 1,500 euros.

4) Mezzanine finance for start-ups: Loan convertible into share capital (shareholder loans) after 12 months, applying a discount rate to avoid dilution of the promoters. Average investment tickets between 50 thousand euros and 100 thousand euros per start-up.

5) Launch of the Covid-19 instrument – Portugal Ventures: Launch of the Portugal Ventures Call for investment in startups, with tickets starting at 50 thousand euros. Initiative financed through the Development Finance Institution (DFI), Portugal Ventures and the National Press – Casa da Moeda.

Además, en el documento se afirma que “las startups pueden seguir recurriendo a dos apoyos” que, aunque ya están en vigor, ya han sido “adaptados para dar respuestas más eficaces”: el Fondo 200M – “una coinversión con inversores privados en startups y escalas portuguesas, con un mínimo público de 500 mil euros y un máximo de 5 millones de euros” – y el fondo de coinversión para la innovación social: Coinversión con inversores privados en empresas con proyectos innovadores con un mínimo público de 50 mil euros y un máximo de 2,5 millones de euros”.