By January 30, 74 applications had been received for the IFIC – Financial Instrument for Innovation and Competitiveness, corresponding to a total investment value exceeding 252 million euros.
The Regional Secretariat for Finance, Planning and Public Administration welcomes the strong participation of the regional business sector in this new instrument, which is part of the PRR allocated to the Azores and was made possible following the latest reprogramming efforts and the Regional Government’s commitment to ensuring the necessary conditions for its implementation and adaptation to the regional context.
This work has made it possible to provide a support mechanism for business investment aligned with the Region’s goals of modernization, competitiveness, and economic growth.
The high level of participation in the IFIC, both in terms of the number of applications and the proposed investment amounts, demonstrates the dynamism of regional companies and the economy, confirming that Azorean businesses have initiatives and are willing to move forward with new projects that contribute to value creation, strengthened competitiveness, innovation, and growth.
The Regional Secretariat for Finance, Planning and Public Administration also highlights that the outreach and proximity efforts carried out by the Regional Directorate for Entrepreneurship and Competitiveness throughout the application period helped strengthen ties with the regional business community and facilitated companies’ access to this European funding opportunity.
The investments proposed through these applications will have a direct impact on the regional economy, contributing to increased wealth, greater business activity, and job creation, with positive effects on the Region’s cohesion and sustainable development.