Launched under the Partnerships for Impact financing instrument, the tendering process aim is to create incentive programmes for the development of innovation and social entrepreneurship initiatives.
Portugal Social Innovation said in a statement, that these initiatives are aimed to propose innovative solutions to mitigate social problems in the areas of health, education, justice, social protection, inclusion and employment.
The Partnerships for Impact financial instrument has a “double aim” to stimulate the development of innovative projects to resolve social problems and, on the other hand, to boost social investment, with 30 percent of the total cost of the project being supported by one or several social investors public or private, the statement adds.
The remaining 70 percent is supported by the European Social Fund through an Operational Programme for Social Inclusion and Employment.
The statement adds that the application phase ends on 28 February this year.