Submissions to the Call for MVP will be open from 9 July. The initiative aims at facilitating access to venture capital investment for projects encompassing new ideas, technologies, products or services to create an MVP and market it on the global market. Submissions will be assessed based on cut-offs, the first of which is on 1 October 2018.
When assessing the projects submitted, investments to be used for the creation of an MVP (Minimum Viable Product) will be looked upon more favourably to ensure that the product has the minimum features needed to be introduced in the market, in the Digital (Enterprise, Cybersecurity, Networks, Artificial Intelligence, AR/VR, Marketplaces, Blockchain and IoT) and Engineering & Manufacturing (New Materials, Electronics, Robotics, Cleantech, AgriTech, SeaTech) sectors. Investment operations in projects based on differentiating and unique innovations, with a working prototype and with feedback from the market, albeit tentative, will be favoured so that, at a later stage, the prototype can be adjusted to market needs and the corresponding business model can be designed.
The projects selected by Portugal Ventures will receive an investment of up to 1,000 thousand euros, with a minimum amount of 300 thousand euros, provided that they are promoted by already incorporated companies located in the Central, Northern or Alentejo regions that are in the seed stage, startup or early stage, and have not completed 3 full years up to the date of investment from when they began operations, or by companies located in the Alentejo region that are developing new innovative products and/or services (Second Round). Companies must be SME certified, a status confirmed via the Online SME Certification issued by IAPMEI.
All applications should be submitted via Portugal Ventures’ website, using the simplified form.
Entrepreneurs can benefit from the support and guidance of one of the entities in Portugal Ventures’ Ignition Partners Network in the preparation and qualification of their projects, thus increasing eligibility for venture capital investment.
Projects submitted to the Call for MVP will be assessed by an assessment panel comprising both Portuguese and international business experts. Portugal Ventures will select projects to invest in that show the greatest growth potential and ability to become startups of excellence on a global scale. Projects invested in will also receive advice from, preferably, international experts, with accumulated experience and an extensive and relevant contact network.