Young Investor

Objective

Investment projects with a total value equal to or greater than €15,000 and eligible value equal to or less than €350,000, which promote the realisation of investments in companies created less than two years ago, developed by sole proprietors, or commercial companies of any legal nature, 100% owned by young people aged 18 to 40 (SMEs only), which fall within the activities referred to below, are eligible for support.

Promoters

Sole proprietors and commercial companies, of any legal nature, 100% owned by young entrepreneurs (aged between eighteen and forty).

Requirements

Among other conditions, promoters must:

1. Fulfil the criteria of a small and medium-sized enterprise (SME);
2. Demonstrate, through an interview to be carried out by the managing entity, during the application analysis phase, that they have the technical and management capacity appropriate to the size and nature of the project;
3. Not submit a new application for the same establishment.

Among other conditions, projects must:

1. Be initiated after the submission of the application, with the exception of the acquisition of land and buildings and the preparation of studies directly associated with the project;
2. Have secured sources of funding and be financed by the promoter with a minimum percentage of 10% equity;
3. Have a maximum implementation period of two years.

Support

Non-repayable incentive of 45% for the islands of São Miguel and Terceira, 50% for the islands of Faial and Pico and for the municipalities of Nordeste, Vila Franca do Campo and Povoação, on the island of São Miguel and 55% for the islands of Santa Maria, Graciosa, São Jorge, Flores and Corvo.

5% increase for projects promoted by companies incubated in the Azores Business Incubator Network, which aim to set up in an establishment outside the incubators.

A realisation premium may be granted to projects, which consists of an increase of up to 25% to the non-refundable incentive rate.

Method of Payment

Payments are made in the modalities of advance, reimbursement, and final payment.

Eligible activities

10. Food industries
11. Beverage industry

13. Manufacture of textiles
14. Clothing industry
15. Manufacture of leather and other leather products
16. Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
17. Manufacture of pulp, paper, paperboard and articles thereof/li>
18. Printing and reproduction of recorded media

20. Manufacture of chemical products and man-made fibres, except pharmaceutical products
21. Manufacture of basic pharmaceutical products and pharmaceutical preparations
22. Manufacture of rubber and plastic products. With the exception of 222 Manufacture of articles of plastics.
23. Manufacture of other non-metallic mineral products
24. Manufacture of basic metals. With the exception of 241 Manufacture of iron and steel products.
25. Manufacture of fabricated metal products, except machinery and equipment
26. Manufacture of computer, electronic and optical products and communications equipment
27. Manufacture of electrical equipment
28. Manufacture of machinery and equipment n.e.c.
29. Manufacture of motor vehicles, trailers, semi-trailers and components for motor vehicles
30. Manufacture of other transport equipment
31. Manufacture of furniture and mattresses
32. Other manufacturing
33. Repair, maintenance and installation of machinery and equipment

55. Accommodation. Only the types of tourism in rural areas, residential tourism and camping and caravanning parks are eligible for support, provided that they contribute to the differentiation, innovation or qualification of the offer, validated by a prior opinion of the regional entity competent in tourism matters.
56. Catering and similar. Tourist entertainment activities included in Decree-Law no. 108/2009, of 15 May, in its current wording, with the exception of subclasses 93210 Amusement and theme park activities, 93291 Bullfighting activities and 93292 Activities of recreational ports (marinas), validated by the opinion of the regional entity competent in tourism matters.

58. Publishing activities

62. Computer programming and consultancy and related activities

71. Architectural, engineering and related technical activities; technical testing and analysis activities
72. Scientific research and development activities. Only investment projects based on applied research are eligible for support.

74. Other professional, scientific, technical and similar activities
75. Veterinary activities

90. Theatre, music, dancing and other artistic and literary activities. Excluding 9004 Operation of theatres and related activities.

95. Repair of computers and personal and household goods

592. Sound recording and music publishing activities

631. Data processing, information hosting and related activities; web portals

813. Planting and maintenance of gardens activities

5911. Motion picture, video and television programme production activities
5912. Technical post-production activities for motion pictures, videos and television programmes

7311. Advertising agencies

8551. Sports and recreation education
8552. Teaching of cultural activities

8621. General medical practice activities, ambulatory
8622. Medical practice activities of specialised clinics, ambulatory

86230. Dental practice and dentistry activities

86903. Nursing activities

86906. Other human health activities n.e.c.

This Incentive Measure does not cover investment projects related to the primary production of agricultural products listed in Annex I to the Treaty on the Functioning of the European Union.