Tourism growth projects eligible for €10M Portugal Ventures call
The initiative has a total budget of €10 million and, if these finds are not exhausted by then, a new call is to be issued in September.
Portugal Ventures, a unit of state-owned Banco Português de Fomento, has launched a call dubbed Turismo+Crescimento, with €10 million of funding to invest in tourism projects and companies that strengthen the competitiveness of the offer in the country, it was announced on Monday.
“Portugal Ventures, of the Banco Português de Fomento Group, announces the launch of the 1st edition of the Turismo+Crescimento Call, in partnership with Turismo de Portugal [the national tourist board] and Nest – Tourism Innovation Center, with the aim of investing in tourism projects/companies that contribute to strengthening the competitiveness of the country’s tourism offer, which improve the tourist experience in Portugal and/or promote the efficiency of companies in the sector,” the unit said in a statement.
The initiative has a total budget of €10 million and, if these finds are not exhausted by then, a new call is to be issued in September.
Projects are eligible for this support in operations to capitalise companies “inducing growth for tourism activity” as well as in ‘build up’ operations to mitigate atomisation of the sector, through company mergers and consolidation processes.
According to the same note, processes involved in the Companies Tourism 360.º programme and which contribute to the achievement of the United Nations Sustainable Development Goals (SDGs) will be given priority.
Quoted in the same note, the president of Turismo de Portugal, Luís Araújo, argued that the new call was an “important instrument that can help companies in the sector to generate more value and more jobs.”
In turn, Pedro de Mello Breyner, an executive board member of Portugal Ventures, argued that this call will allow companies to “grow in a cohesive and sustainable way, but always with the ambition to innovate to continue to promote the image of Portugal across borders.”
Portugal Ventures has a total of €274 million under management and a portfolio of 150 companies in which it has invested.
