NEOTEC Initiative

Contact person 
Deolinda Silva
Innovation Agency
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 
What is the title/name of the instrument/policy? 
NEOTEC Initiative
Indicate the target group/beneficiaries of the instrument/policy 
New technology based firms/new knowledge intensive service firms
What is the aim/objective? 
The NEOTEC Initiative is concerned with the provision of seed capital for the creation of new technology based firms in the ICT field, based in idea contests. More specifically, the Initiative has the following objectives: - promoting the creation of new technology based firms in ICTs, by supporting them in the different stages from the identification of market potential to the commercialisation - encouraging an attitudinal change of NIS players, encouraging the carrying out of research activities and the exploitation of its results - stimulating entrepreneurship and an innovation culture - promoting the development and market launch of new ICT products, processes and services Improvements in innovation support services, in particular for dissemination and technology transfer.
Give an overview of the instrument 
The main objectives are the following: (1) encouraging the creation of new technology based firms with high growth potential by supporting iniciatives in differente stages, from the identification of market potential to the commercialisation of results; and (2) to induce a change of attitudes by scientific players, in order to further the exploitation and valorisation of research results. It is expected that NEOTEC might contribute to a knowledge transfer from R&D organisations towards the market. NEOTEC includes two main types of projects: (1) technology based company creation; and (2) valorisation of entrepreneurship potential.
What is the date of creation of this instrument? 
Wednesday, February 2, 2005
Is the instrument/policy still active? 
Not Active
Identify the main outputs/results (quantitative and qualitative) of the implementation of this instrument 
116 entrepreneurial projects approved leading to 61 new companies.
What is the co-financing/maximum rate allowed by the instrument/policy (if appl.)? 
Is this instrument/policy linked to a KT practice?