FINICIA Programme

Contact person 
Deolinda Silva
Institution 
Innovation Agency
E-mail 
dsilva@adi.pt
Country 
Portugal
Do you want to share an instrument/policy or a knowledge Transfer practice? 
Innovation instrument(policy)
What are the following keywords/priorities which better fit the instrument/policy?  
Support to innovative start-ups incl. gazelles
Indicate the country from which the instrument (or policy) is 
Portugal
What is the title/name of the instrument/policy? 
FINICIA Programme
Indicate the target group/beneficiaries of the instrument/policy 
SMEs only
What is the aim/objective? 
FINICIA is aimed at improving companies access to equity and credit, through the setting up of public-private partnerships, with a view to provide small firms the resources needed to carry out their activities in the first stages of their life cycles. FINICIA includes three main axes: (1) high innovation content projects, where support will consist in venture capital financing; (2) emergent small business; and (3) regionally relevant company initiatives.
Give an overview of the instrument 
FINICIA was designed to respond the perceived need for improving SMEs access to finance in the first stages of their life cycles. The purpose was to design a programme encompassing enough to respond the requirements of different types of small initiatives/firms. FINICIA is clearly related to the on-going revision of public venture capital organisations. It is also envisaged as an instrument to promote the development of the venture capital market.
What is the date of creation of this instrument? 
Saturday, January 1, 2005
Is the instrument/policy still active? 
Active
Identify the main outputs/results (quantitative and qualitative) of the implementation of this instrument 
The initiative appears to have been successful in the early years (by 2008, more than 400 new companies were created with the support of the programme), but after the crisis, and the consequent credit crunch, the take up appears to have been significantly lower.
What is the co-financing/maximum rate allowed by the instrument/policy (if appl.)? 
N/A
Is this instrument/policy linked to a KT practice? 
No