The selection commission of the incentive scheme "Empreende Jovem" (Youth Entrepreneurship) has proposed the approval of 13 projects that will create 34 new jobs, corresponding to a total investment of 2.3 million Euros.

The announcement was made by the Regional for Support to the Investment and Competitiveness, Ricardo Medeiros, who added that "an incentive in the amount of 1.3 million Euros will be allocated to these projects in the form of non-refundable incentive."

According to Ricardo Medeiros, the projects approved under the "Empreende Jovem" incentive scheme comprise applications submitted for investments to be implemented in "the areas of services, tourism and health" on the islands of S. Miguel, Terceira, Faial, Pico and S. Jorge.

"Empreende Jovem" is an incentive scheme intended to support young entrepreneurs in the creation of business projects. Moreover, this projects aims to stimulate a culture of entrepreneurial risk, promote the creation of innovative companies and contribute to the diversification and renewal of the business sector.

A total of 173 applications have been submitted under this incentive scheme, involving an investment of 30.6 million Euros and the creation of 423 jobs.