The Vice-President of Government of the Azores considered today that "the rate at which projects are being created under 'Empreende Jovem' (Youth Entrepreneurship) is very encouraging" and stressed that it is "a clear sign" that the incentive measures promoted by the Regional Government to boost regional economy are "being well received and implemented."
Sérgio Ávila conveyed his satisfaction with the approval of another 11 projects by the selection committee of "Empreende Jovem," representing an investment of 1.55 million Euros and the creation of 23 new jobs.
These applications, which will now be subject to governmental approval, correspond to an incentive of one million Euros to be awarded in the form of non-repayable subsidy.
he projects approved under the incentive scheme "Empreende Jovem" comprise applications submitted for investments to be implemented in the areas of industry, trade, services, tourism and health on the islands of S. Miguel, Terceira, Pico and Flores.
In terms of distribution by islands, most of the projects will be implemented on the island of Terceira (six), representing an investment of 357 thousand Euros and the creation of nine jobs.
Of the remaining five projects, three will be implemented on S. Miguel with an investment of 590 thousand Euros and the creation of nine jobs, one on the island of Pico with an investment of 300 thousand Euros and the creation of three jobs and the other on the island of Flores with an investment of 300 thousand Euros and the creation of two jobs.
This distribution was also considered by the Vice-President of the Government as "very positive." In this context, the government official underlined the "importance of the creation of new projects by young entrepreneurs either for the immediate results in the creation of jobs or for the sign of hope and confidence in the future brought by these projects to our Region."
Therefore, Sérgio Ávila stressed that “the Government Regional is satisfied with the strategy designed to promote entrepreneurship and the creation of companies owned by young entrepreneurs as well as with the rapid analysis and decision on the projects submitted."
According to the government official, 218 applications submitted under the "Empreende Jovem" programme represent a total investment of 37.6 million Euros and the creation of 504 new jobs; only 18 applications are pending technical analysis. In this case, the majority of pending applications require further clarification from their promoters.
Furthermore, Sérgio Ávila highlighted the fact that approximately 50% of the jobs created under these projects are expected to be filled by women."