The Regional Entrepreneurship Competition received about thirty projects submitted by Azorean entrepreneurs.
 
Promoted by the Vice-President of the Government, this initiative is developed by Society for Business Development of the Azores (SDEA). It aims to stimulate the initiative capacity, creativity and entrepreneurial behaviour towards the creation of companies in the Azores from competing projects.
 
The submission of applications to this competition took place from May 1 to June 15; a total of 29 applications were submitted in various business areas.
 
These applications will be evaluated by a jury that will select the best business ideas for the second phase.
 
In the second phase, which will run from September 1 to October 15, participants will be provided with specific training and advisory in order to develop the business ideas presented in the first phase and turn them into effective business plans.
 
The resulting business plans will be submitted to an assessment from October 16 to 30. The jury will then select the three winning projects.
 
The first place will receive a prize of 25,000 Euros, while the second place will receive a prize of 20 thousand Euros and the third place a prize of 15 thousand Euros. However, these amounts will be awarded on the condition that it will be included First place will receive a prize of 25,000 Euros, while the second will have a prize of 20,000 Euros and the third gets 15 thousand Euros, but these values will only be granted on condition that go to join the capital of the companies to create for business development.