Government of the Azores puts Network of Business Incubators into operation

The Government of the Azores, through an order published today in the Official Journal, has defined the selection criteria for the membership to the Regional Network of Business Incubators. According to the Vice-President, this structure aims to "create the conditions to foster the development of new business activities by young entrepreneurs in the Region."

"The Government of the Azores aims to create a network of business incubators in all municipalities of the archipelago, which will be added up to other incubation structures in sectors with potential of activity development in the Azores," said Sérgio Ávila.

The Vice-President stressed that this network also intends to create the conditions so that "new companies and new ideas may develop in a protected environment." Hence, they will benefit from an additional support measure that is part of a series of measures already available through the incentive schemes in force, which are very important in the recruitment of skilled human resources.

"This network of business incubators will also include companies that are about to start their activity, thus reducing fixed costs to the extent that they will share the same infrastructures," the government official said, stressing that, in addition to the physical space, companies can share support to be provided, for example, in the area of communications.

According to Sérgio Ávila, the goal is to help new companies to grow so that when they have enough strength and maturity, they can continue their activity outside this business incubator.

"This is an innovative idea in the Azores and we intend to implement it in every municipality," Sérgio Ávila said, adding that the Government wants to "provide a stimulus to entrepreneurial ecosystems, job creation and wealth generation through the business development of new ideas."

The order published today states that the Society for the Business Development of the Azores (SDEA), as network coordinator, is responsible for providing the necessary clarifications through the email address [email protected].