Portugal Ventures, a venture capital company of the Banco Português de Fomento Group, launched, in partnership with the National Innovation Agency, the INNOV-ID Call, an initiative with the aim of boosting projects or growing companies, at an early stage, so that they have sufficient financial availability and equity to develop and generate new rounds of capital.

The funding of € 100,000 per project aims to cover a market failure in access to investment in startups in the pre-seed phase, whose technology was already developed, but which were in the prototype phase, proof of concept or in product-market-fit validation. “It was the way found to date, to keep the projects alive and supported, with positive effects on the national entrepreneurial ecosystem,” says Portugal Ventures.