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Ponta Delgada ,  November 23, 2017

Promotion of entrepreneurship is creating new business areas in the Azores

The Vice-President of the Government highlighted in Ponta Delgada "the restructuring that has been systematically verified in the Azores' economic fabric." This process has been levered by measures implemented under the Regional Government's strategy to foster entrepreneurship.
 
Sérgio Ávila spoke at the opening session of the Entrepreneur Gala. He pointed out that, currently, there is "a tendency for the emergence of businesses" in technological areas, "where knowledge is the distinguishing factor and critical factor in the success of these new initiatives."
 
"This situation is the result of the new infrastructures we are building in the Azores, such as the case of NONAGON - São Miguel Science and Technology Park and will certainly be the case of the future TERINOV - Terceira Science and Technology Park," stressed the government official.
 
The Vice-President also highlighted the important role of the new business incubators that are being built on every island for the progress in the diversification of business and innovation in regional economy.
 
"We are creating in the Azores a Network of Business Incubators that currently includes four incubators. They provide enough critical mass that allow us to begin promoting actions specifically aimed at them," said the government official.
 
Presently, there are two local based incubators on Terceira, "Startup Angra" and "Praia Link"; both stem from municipal initiatives. In turn, there are two incubators on São Miguel, a technology-based incubator "Go-On" located at Nonagon, and the Azores Craft Lab in the area of handicrafts; the latter provides for the virtual installation of companies from other islands.
 
The Vice-President announced that the Regional Government will promote training in incubator management and, next year, will hold the 1st Meeting of Incubators of the Network of Business Incubators of the Azores.
 
In addition to the incentives available under Competir +, Sérgio Ávila highlighted two specific measures to foster entrepreneurship. The first concerns the creation of the Azores Incubation Voucher for startup companies created within the Network of Business Incubators. This measure was approved this week by the Extraordinary Council of the Government of the Azores on Employment and Economy. The second measure provides for the establishment of the Venture Capital Fund designated as "Azores Ventures."
 
"This fund will allocate support to entrepreneurship that may reach a maximum amount of 200 thousand Euros. It will be exclusively dedicated to projects designed to strengthen the regional business fabric," stressed the government official.
 
In his speech delivered at the prize-delivery ceremony of the 2016 edition of the Regional Entrepreneurship Competition, the Vice-President addressed the hundreds of young students present a "message of optimism and ambition."
 
"When we all share the vision that it is possible for us to achieve better standards of living on our own initiative, the future we have built for us is confident one and our society will have a place for everyone," said the government official.
 
The Regional Entrepreneurship Competition takes place in three different phases: presentation of ideas, pre-selection and preparation of business plans, and application for final selection. The initiatives awards prizes amounting to 25 thousand Euros, 20 thousand Euros and 15 thousand Euros.
 
The project submitted Emanuel Sousa and Rui Medeiros from São Miguel won the first place, while the project developed by Rui Cordeiro, also from São Miguel, was placed second. In turn, the project developed by Iris Foroni from Terceira reached third place.


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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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