+Heritage +Tourism” Programme received close to one hundred applications
95 applications were submitted to the “+Heritage +Tourism” programme, a joint initiative by Portugal Ventures and Turismo de Portugal aimed at stimulating entrepreneurship and innovation. The number of submissions demonstrates just how much interest there is in the programme and is a great starting point to select the tourism-based value propositions which most contribute to the valorisation of the country’s cultural and natural heritage.
The applications submitted via Portugal Ventures’ website, between 16th June and 31st July, indicate that tech-based start-ups (37 applications) and those related to tourist entertainment activities (27 applications) submitted the most proposals. The projects that make it through to the next stage and which are selected for investment, may receive up to 500 thousand Euros.
Luís Araújo, Chairman of Turismo de Portugal, said that “Turismo de Portugal is deeply committed to stimulating the creation of a solid entrepreneurial and innovative culture in the sector. To this end, the results of this Call shall certainly contribute to the generation of new businesses and companies, whilst at the same time create more value and employment in the tourism sector in Portugal.”
As for Celso Guedes de Carvalho, CEO of Portugal Ventures, “The number of applications received in this first edition of the “+Heritage +Tourism” Call is indicative of the interest entrepreneurs have in this area, in a sector which is in high growth. Portugal Ventures hopes to contribute significantly to an increase in potential investments in this sector.”
This is the first time that the “+Heritage +Tourism” Programme was made available to the emerging entrepreneurs in the Tourism sector. The Programme, an initiative with a total estimated amount of 10 million Euros, is part of StartUP Portugal's National Strategy for Entrepreneurship, which aims to stimulate the emergence of start-ups and new businesses.
About Turismo de Portugal
Part of the Ministry of Economy, Turismo de Portugal is the National Tourism Authority responsible for the promotion, valorisation and sustainability of tourist activity, bringing together in a single entity all institutional competences related to fostering tourism, from supply to demand. With its privileged relationship with the other public entities and economic agents both at home and abroad, Turismo de Portugal is committed to fulfilling its objective to reinforce tourism as one of the country's main drivers of economic growth.
About Portugal Ventures
Portugal Ventures is a venture capital firm with circa €400 million in funds under management and over 100 portfolio companies. It currently runs the Call for Entrepreneurship and the 4.0 Industry Programme through which it invests in innovative projects with global ambition, in the areas of Information and Communication Technologies, Electronics & WEB, Life Sciences, Tourism and Endogenous Resources, Nanotechnology and Materials and Engineering. Within the Tourism sector, it has already invested in Doinn, JiTT, GestU, IndieCampers, Invine and Storyo.