“With a budget of four million euros, financed by the ERDF [European Regional Development Fund] and with a maximum co-financing rate of 50%, this call aims to strengthen the competitiveness of Algarve companies, promote innovation and stimulate integration into national and international value chains,” informs the Algarve Regional Coordination and Development Commission (CCDR) in a statement.

This community support is intended to assist SMEs in the region in the qualification, modernisation and digitalisation of their business models, with a minimum eligible investment per application of 100,000 euros, with operations having a maximum duration of 24 months, it adds.

The competition will support individual projects from SMEs that develop investments in at least two intangible areas of competitiveness, such as organizational innovation, management and logistics, digitalization and digital transformation, brand creation, design, and new product development.

Also included are quality certification and management systems, industrial property, technology transfer and specialized consulting, and sustainability and eco-innovation, with a focus on energy and water efficiency.

Applications can be submitted through the Funds Desk (Balcão 2030), with a first phase for submission until March 31, 2026, and a second phase until June 30.

The Algarve 2030 Regional Program is a European funding program for the period 2021-2027, providing a total of €780.3 million for the development of the region.