Portugal Ventures Opens First Edition Of Call For Tourism

  • Submissions to the Call for Tourism run from 3 October until 31 December.
  • This new initiative by Portugal Ventures facilitates 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 efficiency of companies in the sector.
  • Portugal Ventures thus broadens the scope of its operations by also investing in projects that aren’t tech-based.
  • The Call for Tourism has 18 million euros in funding available and each project selected could be eligible for an investment of up to 1.5 million euros.

Lisbon, 25 September 2018 – From 3 October, entrepreneurs are challenged to submit innovative tourism projects that introduce value-added products and services for the tourist experience by leveraging the country’s history, art, architecture and natural and cultural heritage. 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.

When assessing projects submitted to the Call for Tourism, non-tech projects in the Tourism Accommodation (Design Hotels, Boutique Hotels, Eco-resorts, Glamping, Houseboats), Tourism Entertainment Activities, Tour Operators, Enotourism, Theme Parks, Nautical Tourism and Equine Tourism sectors will be eligible.

Tech-based projects in the Artificial Intelligence, AR/VR, IoT, Electronics, Mobile, Clean Tech, Robotics and Marketplaces sectors that implement platforms and other digital tools that enhance tourist enjoyment of cultural and natural heritage in Portugal and/or the efficiency of tour operators will also be eligible in this Call.

Projects should be promoted by already incorporated companies or companies that are to be incorporated, located in Portugal (mainland or islands), in the seed, startup or early stage, which have been operating for less than seven full financial years since the commencement of activity at the time of investment.

Projects selected for investment will benefit from synergies created by Portugal Ventures and Turismo de Portugal for the promotion of companies and trade in Portugal and abroad, in addition to close monitoring of operational management and strategic decisions by a team from Portugal Ventures.

For Pedro de Mello Breyner, Executive Board Member of Portugal Ventures who oversees Tourism, “At a time when the Tourism sector in Portugal is booming, the Call for Tourism provides companies with tailored structured medium and long-term funding and creates the conditions for financing entrepreneurship in the sector to meet the needs of an increasingly more demanding market, offering investment in innovative solutions to sustain growth in the sector. This is a new chapter for Portugal Ventures, in which it aims to invest not only in technology solutions but in innovative projects in the accommodation and tourism entertainment sectors as well.”

All applications should be submitted via Portugal Ventures’ website at https://www.portugalventures.pt/call-for-tourism, 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.

In close collaboration with Turismo de Portugal, the Call for Tourism aims at identifying startups and businesses that meet the challenges identified in the FIT – Fostering Innovation in Tourism programme, namely, projects that promote sustainable mobility, smart management, regional decentralisation and seasonal demand, inland tourism, year-round tourism, virtual reality, artificial intelligence and social and environmental sustainability.

As such, Portugal Ventures will be promoting the Call for Tourism by participating in the Roadshow organised by Turismo de Portugal, bringing the initiative to the North, Centre and South of Portugal, to cities such as Coimbra, Évora and Faro. On 26 September, Portugal Ventures will be kicking off the trip at the Tourism Explorers event.

About Portugal Ventures
Portugal Ventures is a venture capital firm that aims at proactively investing in startups in all stages of development, helping them grow, increase their competitiveness and go global. Considered by CB Insights as the most active venture capital firm in Portugal, since 2012 we have invested over 120 million euros in more than 100 startups. In the Tourism sector, Portugal Ventures currently manages a portfolio of 15 companies and has already invested approximately 26 million euros in the sector.
Recent investments: Live Electric Tours, Great Hotel of the World and Strayboots Europe.

For more information:
Helena Taveira – helena.taveira@portugalventures.pt

Sobre a Portugal Ventures

A Portugal Ventures é uma sociedade de capital de risco que tem como missão o investimento pró-ativo em startups em todas as fases de desenvolvimento, apostando no seu crescimento, competitividade e capacidade de internacionalização. Considerada pela CB Insights a capital de risco mais ativa em Portugal, a Portugal Ventures, desde 2012, investiu mais de 120 milhões de euros em mais de 100 startups. Na área do Turismo, a Portugal Ventures gere atualmente um portfolio composto por 15 empresas, tendo já investido neste setor, cerca de 26 milhões de euros. Recentes investimentos: Live Electric Tours, Great Hotel of the World e Strayboots Europe.

Para mais informações:

Helena Taveira – helena.taveira@portugalventures.pt