Lisbon, 13 October 2023 – Portugal Ventures, a venture capital firm that is part of Portuguese promotional bank Grupo Banco Português de Fomento, in partnership with ANI – Agência Nacional de Inovação and with the collaboration of Startup Portugal, is launching the 4th edition of Call INNOV-ID. Submissions run until 22 November. Portugal Ventures aims to invest in 10 projects.
This new edition of Call INNOV-ID is the result of its previous success and the ecosystem’s continued demand for a response to the market failure identified in access to investment in pre-seed stage startups. With this in mind, Portugal Ventures and Agência Nacional de Inovação have joined forces to launch another edition of Call INNOV-ID , thus continuing to provide startups with the financial means to continue developing their projects.
Projects submitting applications to Call INNOV-ID must contribute to one of the following:
- decarbonisation of the economy;
- process, product and material sustainability;
- energy efficiency and sustainability;
- circular economy.
The following projects are eligible under Call INNOV-ID:
- Projects in the pre-seed, seed or early stage;
- Unincorporated companies or companies incorporated less than 8 years prior, with registered office in mainland Portugal or the islands, and with developed technology but which are in the prototype, proof-of-concept or product-market-fit validation phase;
- Projects stemming from scientific, technological or academic research and development at higher education institutions, technology and innovation centres, collaborative laboratories or similar institutions in order to enhance the transfer of knowledge to companies and transformation into innovation;
- Projects that are promoted by or employ highly qualified human resources.
As in the previous editions, applications must be submitted exclusively through one of the entities that are part of Portugal Ventures’ Ignition Partners Network (rather than by the founders themselves).
Since its launch in 2020, in response to a challenge set by the Ministry of the Economy aimed at mitigating the effects of the pandemic on the market, the previous three editions of Call INNOV-ID have seen 313 applicationssubmitted and 55 investments made, totalling €5.5 million invested.