HOW IT WORKS

The SIF EQUITY line promotes support for projects that are Social Innovation and Social Entrepreneurship Initiatives (SISEI), in co-investment with private co-investors.

WHO ARE THE BENEFICIARIES

SIF EQUITY  is for SMEs that aim to develop Social Innovation and Social Entrepreneurship Initiatives (SISEI), accredited as such by the Portugal Social Innovation Mission Unit, known as Final Recipients.

WHO CAN APPLY

Applications to SIF EQUITY must be submitted by private investors, referred to as co-investors, who must correspond to:

  • Institutional venture capital firms and social entrepreneurship organisations
  • Natural persons or organisations that, whether operating permanently in Portugal or not, are legally accepted to invest in companies in Portugal.

HOW LONG IS THE CO-INVESTMENT PERIOD

Co-investment shall be made in the Final Recipients until 31 December 2023.

WHAT IS THE SIF INVESTMENT AMOUNT PER OPERATION

For SMEs that haven’t been operating in any market, SIF can provide up to 70% of the total co-investment operation amount, with a minimum amount of EUR 25,000.00 (twenty-five thousand euros) and a maximum amount of EUR 2,500,000.00 (two million five hundred thousand euros).
For SMEs that have been operating in any market for less than 7 years following their first commercial sale (excluding limited sales to test the market), SIF will fund up to 60% with the aforementioned amounts.

WHAT ARE THE AREAS OF INTERVENTION

SIF supports initiatives in several areas of intervention, such as:

  • Promoting employment, training and education
  • Promoting social, financial and digital inclusion
  • Promoting active ageing
  • Promoting health and well-being
  • Other areas that are considered Social Innovation and Social Entrepreneurship Initiatives

Due to specific European restrictions on State aid, some sectors are excluded.

WHERE CAN PROJECTS BE IMPLEMENTED

SISEI financed by SIF must be implemented in the NUTS II Northern, Central and Alentejo Regions of Portugal.

WICH INVESTMENT OPERATIONS ARE ELIGIBLE

Co-investments in SMEs that aim to implement Social Innovation and Social Entrepreneurship Initiatives (accredited as such by the EMPIS). These projects must offer an innovative solution to tackle social problems and also be sustainable and have an impact.

The following operations are not eligible:

  • Operations for financial restructuring or consolidation;
  • Co-investment operation in which the co-investor uses other public instruments or has received financing from European Structural and Investment Funds (ESFI) to co-invest with the SIF;
  • Investment operations related to exports to third countries or Member States, namely aid directly associated with quantities exported, the establishment and operation of distribution networks or other current costs related to export activities, or investments in fixed assets abroad;
  • Investment operations to purchase land, property, financial assets, used goods, vehicles that are not considered a “means of production” and for the acquisition of road freight transport vehicles by undertakings performing road freight transport for hire or reward.
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