Portugal Ventures launches First Edition of Call Turismo +Crescimento to boost Portugal’s most dynamic economic sector

    • Investment of between €150,000 and €1.5M per company/tourism project.
    • Capitalisation and build up operations.
    • For all sectors related to the tourism industry.
    • Submissions run until 30 April.

Lisbon, 6 March 2023 – Portugal Ventures, part of Portuguese promotional bank Grupo Banco Português de Fomento, announces the launch of the 1st edition of Call Turismo +Crescimento, in partnership with Turismo de Portugal and Nest – Tourism Innovation Centre, aimed at investing in tourism projects/companies that boost the competitiveness of the country’s tourist offer, enhance the tourist experience in Portugal and/or improve the efficiency of businesses in the sector.

The following projects are eligible for Call Turismo +Crescimento:

  • capital injections into companies that promote the growth of tourism, through expansion and internationalisation projects or projects to improve competitiveness and which have already begun to produce/market their products/services;
  • build up operations aimed at mitigating the atomization of the sector, by means of the merger and consolidation of companies, through intervention models that enable, from a venture capital perspective, the aggregation of back-office functions (finance, procurement, human resources management) and the creation of business synergies, albeit with degrees of relevant business autonomy.

Projects involved in the 360-degree Tourism Companies Programme and that contribute towards the Sustainable Development Goals (SDGs) offering solutions that encourage the dematerialisation of processes and services, the recycling, reuse and reduction of waste, integrate clean energy, improve energy and water efficiency, and smart mobility solutions, as well as those located in low-density regions, will be given priority.

With a total of €10 million in funding, and after assessing all projects, if the funds allocated to this Call have not run out, a new edition of Call Turismo +Crescimento will be held in September.

Luis Araújo, President of Turismo de Portugal, says “Portugal Ventures’ Call Turismo +Crescimento is based on the 2027 Tourism Strategy, thus contributing to the development and consolidation of tourism as a driver of the Portuguese economy. It is an important instrument that can help businesses in the sector to generate more value and more employment, expanding tourism activity nationwide and promoting Portugal across the globe as a top tourist destination.”

Pedro de Mello Breyner, Executive Director of Portugal Ventures, adds “Call Turismo +Crescimento is vital for the capitalisation of companies in the tourism sector to leverage the expansion, growth and consolidation of businesses. This new Call will enable the cohesive and sustainable growth of companies, encouraging innovation to continue promoting the image of Portugal beyond borders.”