Incentives for Research and Development for SMEs and Small Mid-Caps: How to Leverage Your R&D Project with Available Funds

If you are an SME or a Small Mid-Cap[1] looking for opportunities to boost innovation and R&D activities, we have excellent news: applications are open for the business Research and Development (R&D) incentive, focused on individual operations. This incentive is aimed not only at SMEs but also at small-mid cap companies, known as Small Mid-Caps.

The programme, named SIID - Business R&D - Individual Operations - Low Density and Other Territories, aims to promote industrial research and experimental development activities resulting in the creation of new products, processes, or systems, as well as the introduction of significant improvements to existing products, processes, or systems.

One of the features of this incentive is its geographical scope, covering the NUTS II regions of the Mainland, including the North, Centre, Lisbon, Alentejo, and Algarve. However, it is important to note that for investments in the Lisbon region, the maximum incentive rate is 40%, whilst in the other regions covered, this rate is up to 80%.

The eligible expenses for this funding are diverse, providing flexibility in the use of funds. They range from costs for technical staff dedicated to R&D, acquisition of materials and raw materials, to expenses with certification, patents, and indirect costs.

It is important to highlight the key dates for submitting applications. The process is divided into four phases over the next 12 months:

1st Phase: Exclusive to RPA – 30.11.2023 to 31.01.2024 - OPEN

2nd Phase: 01.02.2024 to 30.04.2024

3rd Phase: 01.05.2024 to 31.08.2024

4th Phase: 01.09.2024 to 31.12.2024

Taking advantage of this opportunity can be crucial to boosting your company's innovation and competitiveness. If you have an R&D project that fits the criteria mentioned above, make sure to consider this funding possibility. This could be the boost your company needs to reach new heights in the field of research and development.

For detailed information on eligibility and the application process, get in touch with our team for a free, no-obligation conversation.