Investe Jovem Programme
- Beneficiaries
The recipients of this support are those who fulfil the following requirements:
- Young people registered as unemployed in the IEFP;
- Age over 18 and under 30;
- With a viable business idea and adequate training for business development
- Age is measured at the time the application is submitted.
The IEFP assumes the responsibility and the initiative to provide adequate training for the development of the business to the recipients of the project promoters, who do not have it, following assessment by the IEFP, I.P.
- Project Requirements
Business start-up projects must fulfil the following requirements:
- Have a total investment between 2.5 and 100 times the IAS;
- Present economic and financial viability;
- Do not include, in the investment to be realised, the purchase of share capital of an existing company.
The realisation of the investment and the creation of the promoters' jobs must be completed within 6 months from the date of the initial release of the financial support.
The new business creation project cannot involve the creation of more than 10 jobs, including those of the promoters.
The projects must maintain the activity of the enterprise and, necessarily, ensure the creation of the respective full-time job of the promoting recipients, for a period of no less than 3 years.
Other persons may participate in the share capital, provided that 51% of the share capital is held by the promoting recipients.
- New Business Requirements
New businesses must not have started operating at the time the application for funding is submitted.
From the date of contractualisation of the support and until the termination of the obligations associated with the implementation of the project, the new companies must meet the following requirements:
- Are regularly constituted and registered;
- Have a licence and other legal requirements for the exercise of the activity, or proof of application for them;
- Have a regularized situation with the tax administration and social security;
- Not being in default with regard to financial support granted by the IEFP;
- Have organized accounting in accordance with the provisions of the law, when applicable.
- Investment Support
Business start-up projects that fulfil the criteria described above are granted financial support of up to 75% of the eligible investment against the thresholds;
The respective projects must provide at least 10 % of the amount of eligible investment in equity capital.
The financial support is granted in the form of interest-free loans, repayable within a maximum period of 54 months, under the following conditions:
Projects whose total approved investment is between 2.5 and 10 times the IAS, inclusive:
- Deferral period of 6 months from the date the support is contracted;
- Reimbursement within 18 months immediately following the end of the deferral period;
Projects whose total approved investment is more than 10 and less than or equal to 50 times the IAS:
- Deferral period of 12 months from the date the support is contracted;
- Reimbursement within 18 months immediately following the end of the deferral period;
Projects whose total approved investment exceeds 50 times the IAS:
- Deferral period of 12 months from the date the support is contracted;
- Reimbursement within 48 months immediately following the end of the deferral period.
Reimbursement of the support granted is made by means of constant and successive monthly instalments.
- Support for Self-Employment
Business start-up projects will receive financial support in the form of a non-refundable grant of up to 6 times the IAS per recipient of the promoter who creates a full-time job, up to a limit of 4 supported jobs.
Together, the financial support may not exceed the value of the total investment.
- Eligibility of Expenditure
The following expenses are not considered eligible in the business start-up project:
- With acquisition of real estate;
- Building construction;
- Whose relevance to the realisation of the project is not substantiated.
The financial support only finances the working capital indexed to the project up to 50% of the eligible investment, within the limit of 5 times the IAS.
- Payment of support
Payment of the financial support for the investment is made in two instalments as follows:
- Advance payment of 80% of the total amount of support approved for investment support, upon contractualisation;
- The remaining 20% after physical, documentary and accounting verification of the total investment expenditure, within 30 days from the date of submission of the elements necessary for this purpose.
The payment of the financial support for the creation of own jobs is made in one instalment, at the same time as the advance payment of the investment support referred to above.
