The ‘Empreende XXI’ initiative is aimed at young people looking for their first job and unemployed people registered at the IEFP – Instituto do Emprego e da Formação Profissional, aged between 18 and 35, who have a business idea that is potentially financially viable.
This support, which can be accumulated, partly through non-refundable funding, partly through interest-free financing, is intended to provide:
- Financial support for the creation of companies;
- Financial support for self-employment;
- Professional training suitable for business creation and self-employment, whenever necessary;
- Mentorship and specialized consultancy in the area of entrepreneurship to strengthen skills and for the structuring and consolidation of the project;
- Possibility of installation in incubators, whenever necessary.
State support will be 85%, divided between a non-refundable subsidy, up to a limit of 40% of the eligible investment, and an interest-free loan, up to a limit of 45%. Payment of this support will be made in two tranches.
Supported projects must be for-profit private entities, regardless of their legal form, cooperatives or the development of activity as an independent worker, with business or professional income.
The initiative will be operationalized by IEFPand Startup Portugal.