The selection committee of "Empreende Jovem" (Youth Entrepreneurship) has proposed the approval of another 16 projects, corresponding to a total investment of 3.4 million Euros and the creation of 53 jobs.

These applications correspond to a two-million Euro incentive that will be allocated in the form of non-repayable subsidy.

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

In terms of distribution by islands, eight of the approved projects will be implemented in the island of Terceira with an estimated investment of 1.7 million Euros and the creation 16 jobs.

A total of three applications were approved on the island of S. Miguel, representing an investment of 500 thousand Euros and the creation of 25 jobs.
In turn, five projects will be implemented on the islands of Santa Maria, Pico and Faial with an estimated investment of 1.1 million Euros and the creation of 12 jobs.

"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 210 applications have been submitted to date under this incentive scheme, representing a global investment of 37.6 million Euros and the creation of 493 jobs.