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Ponta Delgada ,  September 13, 2019

Entrepreneurship in the Azores continues to grow and is closely linked to business creation, says Regional Director

The Regional Director for Support to the Investment and Competitiveness stated in Ponta Delgada that the conditions provided by the Azores in terms of attractiveness of investment and entrepreneurship support have increasingly raised the archipelago to prominence in the regional and national scene.
Ricardo Medeiros spoke during a follow-up visit to a project that has applied for the Competir+ incentive system directed to business competitiveness. On the occasion, he stressed that "this proximity policy has also been welcomed by promoters, as they acknowledge the follow-up of their process and, thus, the any obstacle identified is quickly overcome.”
The Regional Director visited the company M3S - Charming House, where he mentioned that project was submitted by young entrepreneurs to the Competir+ subsystem designated as "Qualified and Creative Entrepreneurship," better known as "Youth Entrepreneurship." It aims to support business start-up projects developed by young people aged between 18 and 35; the maximum age limit may be extended up to 45 years under certain conditions.
In terms of applications for this subsystem, Ricardo Medeiros stated that 168 projects had already been received, representing an investment of more than 32 million Euros and a potential creation of 430 jobs in the Region.
The company visited today, owned by young Azorean entrepreneurs, runs a property for tourist purposes, through the recovery of a regraded property located in Ponta Delgada that was converted into a hostel. As Ricardo Medeiros highlighted, this is one the goals envisioned in this support measure that has been quite successful.
According to data published by consulting company D&B in its monthly report on the evolution of companies in Portugal, INFORMA Barometer, the average business creation in the last 12 months and up to July 2019 indicates that for each company closed down, three new companies are created in the Azores (3.1). In turn, the national ratio stands at 2.7 and 2 in Madeira.
It should be also noted that the former district of Angra do Heroísmo remains one of the best in the country at this level, with the second best ratio registered at national level.
"These results do not come by chance. We have been working hard to attract new investments and provide conditions for the establishment of start-ups and other companies, such as the Azores Business Incubator Network or the Incubator Voucher; the latter supports companies in their first steps," stressed the Regional Director
"We will continue to intensify this strategy of fostering entrepreneurship, business innovation and competitiveness of our companies. This is the path we have chosen and we will continue to walk towards the development of our Region," assured Ricardo Medeiros.


Official government press-releases presented in all foreign languages interfaces of the Azorean Government Portal (Portal do Governo dos Açores) are a sub-set of the government's official press-releases daily output and are chosen for translation and publication on the foreign language interfaces based on audience segmentation criteria. The entire collection of the Azorean government press-releases is available in portuguese, here, from the GACS Press Office site.

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