FITEC – Innovation, Technology, and Circular Economy Fund
The FITEC – Innovation, Technology, and Circular Economy Fund is a financial instrument created to support cooperation between Higher Education Institutions, Technology and Innovation Centers (CTI), and companies.
In a perspective of valuing innovation and developing technologies with a positive impact on the environment and society, FITEC ensures base funding for CTIs that help small and medium-sized enterprises make their resources efficient throughout the production chain, particularly in material and energy efficiency, aiming to reduce waste and greenhouse gas emissions.
Access to the funding is granted through applications submitted as part of a competitive procedure, which will be available on the website of ANI – National Innovation Agency.
The allocation of funding by FITEC is governed by the provisions of Council of Ministers Resolution No. 84/2016 of December 21, Decree-Law No. 86-C/2016 of December 29, and Ordinance No. 258/2017 of August 21, which approves the FITEC Management Regulations.
OBJECTIVES AND PRIORITIES
Enhance scientific and technological knowledge, leveraging its transfer to companies and its transformation into innovation.
Improve coordination between the various players in the Innovation system: Higher Education Institutions, CTIs, and Companies.
Ensure base funding for CTIs that play a relevant role in technology transfer and capacity-building for companies in their transition to a circular economy, particularly by contributing to the reduction of greenhouse gas emissions and thus to climate change mitigation.
Increase R&D (Research and Development) and Innovation capacity in small and medium-sized enterprises, strengthening their connection to the innovation system through CTIs.
Promote innovation that leads to the efficient and productive use of material and energy resources through CTIs.
FUND MANAGEMENT
According to Ordinance No. 258/2017 of August 21 [PDF], [PDF], the Fund’s governing bodies are the Executive Commission and the Sole Auditor.
The Fund is managed as follows:
TECHNICAL ASPECT
The Executive Commission consists of:
– Two members from the Board of Directors of ANI — National Innovation Agency, S.A. (ANI, S.A.);
– One member appointed by the government official responsible for the economy sector.
FINANCIAL ASPECT
IFD — Development Finance Institution, S.A. (IFD, S.A.).
The government official responsible for the economy sector appoints the President of the Executive Commission.
The Executive Commission’s management of the Fund is supported by ANI, S.A., which also handles the procurement of goods and services needed for its operation.
Consult the FITEC Organizational Chart
