The Government of the Azores is open to review the incentive system for youth entrepreneurship, thus adapting it to the new economic context and improving aspects regarding its implementation.
The assurance was given by the Regional Secretary of the Presidency during the discussion of a proposal on amendments to this incentive system at the regional parliament on Thursday evening.
While discussing this proposal, submitted by the Parliamentary Group of the Socialist Party, which still will continue on Friday morning, André Bradford acknowledged the merit of the presented initiative and said that the Government is open to all suggestions that may promote new ideas that enhance the development of the region, particularly amongst youngsters.
“This proposal meets the main needs that the Government has identified regarding the programme that we implemented in 2006,” stated the Regional Secretary.
The government official explained that this assessment “widens the range of beneficiaries as well as the activity areas involved, promotes the simplification of procedures, and clarifies some aspects concerning the implementation of the programme, which has created doubts over the years.”
André Bradford also said that the proposal is still valid “because it suits this entrepreneurship tool to the current investment difficulties affecting youngsters with innovation skills due to the contingencies and consequences of the international financial crisis.”
Regarding a technical point of view, “the Government welcomes the fact that, on commission, significant amendments have been made, following a hearing to the Government.”
The Regional Secretary of the Presidency gave as examples the implementation period of projects, which increased from two to three years, the inclusion of support lines for court and registration costs, and the increasing of support to the young winners of the Youth Entrepreneurship Competition as well as to the applicants that have over 75% of the capital to be invested.