Economy Minister Pedro Reis announced the Portuguese Government’s commitment to establish a €100 million deep tech fund to foster disruptive technological innovation. Speaking at the Web Summit, Reis outlined that the fund will consist of €50 million in public financing, with the remainder sourced from institutional co-investments.
The initiative aims to accelerate the development of groundbreaking technologies and is set to launch by the first quarter of 2025. Additionally, the government will allocate €10 million for ignition funds and vouchers to support startups working on deep tech and sustainability, aiding their applications to the European Innovation Council Accelerator.
This move underscores Portugal's strategic focus on innovation and sustainable development within the technology sector.
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