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Ponta Delgada ,  April 22, 2019

New application period for Regional Entrepreneurship Competition opens on May 1

The Vice-Presidency of the Government of the Azores, through SDEA - Society for Business Development of the Azores, promotes another edition of the Regional Entrepreneurship Competition. The event falls within a diversified series of measures aimed at promoting an ecosystem favourable to entrepreneurship.
The aim of the Regional Entrepreneurship Competition is to create the necessary conditions for the implementation of innovative, feasible and market-responsive businesses in priority areas in the development of the Azores, thus providing Azorean entrepreneurs with the opportunity to carry out their projects leading to the creation of new companies.
The application period runs from May 1 to June 15. This competition takes place in three phases, allowing that the business ideas presented in the first phase and selected for later stages may be further developed and consolidated. The aim is to transform the winning projects into business initiatives.
In the five editions held since 2014, 184 applications were submitted, leading up to the development of 50 business plans and the creation of 11 companies; another four companies are still being created this year.
These companies comprise several business areas, namely tourism, agro-industry, biotechnology, information and communication technologies, software development. Additionally, there are projects developed in the creative industries.
This year, the Government will open the digital platform, through which competitors can submit their applications and follow all phases of this competition.
The project awarded first place will receive a prize amounting to 25 thousand Euros, while the second place receives a prize of 20 thousand Euros. In turn, the third place will receive a prize of 15 thousand Euros. These amounts should be added to the share capital of the companies to be created.


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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