The CALL FOR TOURISM aims to facilitate access to venture capital investment for projects that contribute to the development of the tourist offering in Portugal to improve the tourist experience and/or the sector’s efficiency. Non-Tech based or Tech based projects, this Call will favour projects that value history, art, architecture and the cultural and natural heritage. Projects should be promoted by companies which have already or aim to have a significant footprint in Portugal (mainland or islands), in the seed, startup or early stage.
The CALL FOR TOURISM aims at fostering the creation of startups and business development in the tourism sector at a global, national and regional level to meet the challenges identified by Turismo de Portugal within the scope of the FTI - Fostering Innovation in Tourism programme, in particular: Sustainable mobility; Smart management, regional decentralisation and seasonal demand; Promoting inland tourism and year-round tourism; Virtual Reality; Artificial Intelligence; Social and environmental sustainability.
+General Project's Characteristics
Implemented with available resources
In the current funding round the investment made by Portugal Ventures shall be within a minimum amount of 300,000 euros and a maximum of 1,500,000 euros;
Initiative from the founders
Must be an original concept from its Founders and should be led by them;
Companies which have already or aim to have a significant footprint in Portugal (mainland and islands) in the seed, startup or early stage phase that has not completed seven full financial years up to date of investment;
+Non-Tech Project's Characteristics
Tourist entertainment activities:
Related to cultural/landscape heritage, tourist experiences to discover territories as well as activities associated to the use of endogenous resources and the revitalisation of areas of cultural interest;
Innovative tourist accommodation
Innovative tourist acommodation or that have a direct connection to the promotion of culture or the environment;
Rehabilitation of existing hotels and similar accommodation, such as buidings and facilities, that incorporate innovation in the exisitng tourist offer, to introduce competitive advantages for the business and position them in higher market segments.
+Tech Project's Characteristics
Innovative and differentiated
Must already have developed a fully working prototype and preliminary feedback from the market;
Based on internationally referenced R&D
Not be easily replicated by other players, and should be able to be validated by internationally renowned experts in science and technology;
Positioned on global value chains
The project’s target-market cannot be limited to the Portuguese markets;
Product-oriented (tradable goods & services)
Must offer a technology or product which is tradable in international markets;
Significant global market potential
The project’s total available market should be in the order of one billion USD;
The project/technology must be susceptible to protection by a patent or trade secret;
Pre-screening: feedback 10 days after online application;
Term Sheet proposal: up to 90 days after pre-screening.