What is Call INNOV-ID?
Call INNOV-ID intends to invest in scientific or technological projects or companies, in the Pre-Seed, Seed or Early Phases, that have developed technology, but that are still in the prototype, proof of concept, product (MVP) or product-market-fit validation stage.
This measure will be implemented through a venture capital fund managed by Portugal Ventures, in partnership with ANI – National Innovation Agency, PME Investimentos and StartUp Portugal. Portugal Ventures is willing to invest a minimum of EUR 50,000 and up to EUR 100,000.
1.Incorporated companies that fulfil the following criteria are eligible:
a) Be registered with Startup Hub (mandatory);
b) Directly or indirectly contribute to achieving the 2014-2020 Strategy for Smart Specialisation goals set for decarbonization of the economy, process, product and material sustainability, greater energy efficiency and sustainability or to a circular economy (mandatory);
c) Technology-based companies that are the result of proven technology transfer processes of entities in the national scientific and technological system (that fulfil at least one of the following criteria):
i) be the result of a scientific, technology or academic research and development programmes carried out within higher education institutions or Technology Interface Centres (including, in particular, technology centres, science and technology parks, tech-based incubators or incubators linked to higher education institutions, or to Technology Interface Centres);
ii) be incubated in tech-based incubators or incubators linked to higher education institutions or Technology Interface Centres;
iii) be recognised as technology companies by ANI;
iv) be beneficiaries of incentives managed by ANI;
v) be promoted by or employ highly skilled human resources or will maintain or create highly qualified employment;
e) Companies that have not been invested in by other venture capitalists (mandatory);
f) Companies to be incorporated or that were founded less than 8 years ago (mandatory);
g) Companies with registered offices and the majority of their operations in Portugal (mandatory);
h) Companies that have no debts outstanding to the Tax Authority and Social Security at the date the application is submitted (mandatory);
i) Public limited liability companies or private limited liability companies (excluding sole proprietors)(mandatory);
j) Companies that are not directly or indirectly owned or controlled by large companies (mandatory);
2.Unincorporated companies must be incubated in one of the entities that are part of to the National Incubator Network, or associated with one of the partners in Portugal Ventures’ Ignition Partners Network and fulfil criterion 1(b) and 1(c).
See here all the documentation about the Call:
- Applications must be submitted exclusively through Portugal Ventures’ Ignition Partners Network or through entities that are part of the National Incubator Network;
- Portugal Ventures’ Ignition Partners and the entities that are part of the National Incubator Network must request access by sending an e-mail to firstname.lastname@example.org, indicating the e-mail address used to submit applications. Once the confirmation e-mail from Portugal Ventures has been received, registration must be completed;
- The application form available on the Portugal Ventures website must be completed in Portuguese or English;
- Any questions or requests for additional information should be sent by e-mail to: email@example.com;
- 4 May to 5 June: Submissions throught our Ignition Partners Network;
- 19 June to 29 June: Evaluation panels with ANI – Agência Nacional de Inovação, PME Investimentos and Startup Portugal;
- 30 June to 7 July: Pitch of the selected projects to the Portugal Ventures’ Board to final decision;
- 8 July to 31 July: Term Sheet our Investment Agreement Signatures.