Companies installed in technology parks with no payment

07/04/2020

The Government of the Azores determined the exemption from payment to companies and associations for the use of spaces located in NONAGON and TERINOV, science and technology parks in São Miguel and Terceira, in April, May and June.

This exemption from payment aims to reinforce support to companies in the technological areas, reducing their costs and charges.

The support measure now implemented and regulated by the Government of the Azores also aims to enhance and protect the technological-based entrepreneurial ecosystem, essentially composed of projects and ‘startups’ in the early stages of their development, highly exposed to the current volatility and instability of the global market.

With the reinforcement of this support, the Government of the Azores intends to consolidate the culture of innovation and competitiveness of knowledge-based companies and institutions, through knowledge transfer processes, business incubation processes and spin-offs, ‘startups’ are at the center of an innovation policy, contributing significantly to the differentiation and competitiveness of the business fabric.

For this reason, the Azorean Executive understood that the technical skills, technological resources and highly qualified human capital of the companies installed in the NONAGON and TERINOV technology parks constitute an asset with high growth potential.

With this measure of support to companies and the maintenance of employment, it is intended to consolidate and reinforce support also to the most emerging and innovative sectors of the economy.

Source: GaCS / VPGECE

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