Promoted by IAPMEI, the FINICIA program is an incentive and support platform for bank financing, on a subsidized basis, for the creation of new micro-enterprises or for the expansion of new activities in already established companies.
In this way, this program provides means to facilitate access to financing solutions and technical assistance in the creation of new companies or companies at an early stage of their life cycle, which present innovative and economically viable projects.
As a way of guaranteeing access to financial resources, the Portuguese Government, through IAPMEI, the FINICIA promoter, shares the risk of these operations supported under the incentive, with Venture Capital Societies, Banking Institutions, Mutual Guarantee Societies, and Business Angels. This guarantee is provided through a network of program partners who make an investment in these projects possible.
The duration of this intervention program is continuous, and new project applications may be submitted for analysis at any time.
This Finicia presents 3 axes of intervention:
- Finicia Axis I – Projects with a strong Innovation content
- Finicia Axis II – Emerging Small-Scale Business Innovation
- Finicia Axis III – Business Initiatives of Regional Interest Innovation
In this first axis, FinIcia supports business projects with a high content of innovation, which is awarded the IAPMEI Innovation Statute.
Thus, this axis intends to stimulate the development and promotion of innovative initiatives, not limiting this classification only to the technological component of products or processes, but also resulting from classification based on its own evaluation, carried out by IAPMEI.
In addition to the IAPMEI Innovation Statute, applications from beneficiaries of statutes granted by other entities, such as NEST, may be accepted.
Intervention in the small-scale emerging business area aims to finance small projects, through equity and/or debt.
The inclusion of equity in the project to be approved aims to ensure financing at an early stage of the project, through a Venture Capital System that involves several partners, to face the high transaction costs of Venture Capital operations, that in a start-up phase of small investments, it could make the business unfeasible.
Financing through borrowed capital is carried out through the business micro credit mechanism (limit of 25 thousand euros per operation).
The third and last axis of intervention of Finicia allows financing mechanisms that respond to the needs of micro and small companies that already exist, with activity carried out essentially at a local level.
IAPMEI’s support is developed with other local initiatives, namely through local and regional development public agents, such as Municipal Councils, Local Development Agencies and the CCDR.
In order to know all the details inherent to these incentive and investment support systems, Dual Up Consulting will make available a team of specialists in this area, who will advise the best option for the operationalization of your project.
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