€ 25M for Innovation on State System Ports
Ports Fund 4.0. Is being created to promote innovation in the port logistics community, facilitating the development of innovative projects as well as the creation of start-ups and businesses in the sector.
- Its objective is to promote disruptive innovation as an element of public and private port logistics competitiveness, to facilitate sector transition to the 4.0 economy.
- The fund has an endowment of approximately 25 million euro, to come from system Port Authorities, in the form of a contribution equivalent to 1% of their cash flow for the next four years, to be managed by State Ports.
- The Fund is structured on the basis of the awarding, last month of March, to KPMG and Insomnia, of the technical assistance services to participating companies. Hence, these firms will place 12 offices covering the territories that have to do with port agencies at the disposal of those participants desiring to submit projects.
- The financial endowment of the fund for every company or project selected varies: a fixed amount of 15,000 euro for ideas or start-ups in the initial or emergent phase; a minimum of 50,000 and a maximum of 1,000,000 euro for start-ups or spin-offs in the development phase of an innovative product in its pre-merchandising stage; and a minimum of 100,000 and a maximum of 2,000,000 euro for start-ups or spin-offs in the scaling or commercialisation phase.
- Companies in the port logistics sector who can identify projects with an innovative component in any of their traditional business lines will be able to present proposals for this subsidy.
- Operational start-up companies whose technological solutions are applicable to the port logistics sector or the maritime industry in general.
- Entrepreneurs and newly-created start ups with ideas and projects for finding solutions applicable to the sector.