The Lajes das Flores Municipal Chamber, spearheaded by Vice-President Armando Rodrigues, has launched a business incubator facility designed to host up to ten entrepreneurial ventures. This initiative commenced with six projects already underway.
“Currently, we have six projects that are part of the business incubator. These projects are receiving support from companies that assist us in this endeavor,” Armando Rodrigues stated today.
The diverse range of projects, driven by local entrepreneurs, includes ventures such as a bakery and a health and wellness enterprise. Additionally, two of the projects focus on sustainable agriculture.
“The incubator’s purpose is to assist anyone, whether they are entrepreneurs or not, in creating a project that has the potential to evolve into a business if the process goes well,” Rodrigues explained.
The municipal business project aims to address a gap in the market, as traditionally, public entities do not provide foundational support for private business creation, according to the vice-president.
Rodrigues elaborated that individuals often feel constrained by financial limitations and lack knowledge of the initial steps required to start their own business.
“That is where the incubator addresses this need. Through the incubator, individuals can establish their business in a relatively more stable and sustainable manner without significant pressure or investment. The municipality partially covers the initial investment, which provides them with security,” he acknowledged.
By supporting entrepreneurial projects, the municipality on the island of Flores, part of the Azores’ Western Group, aims to foster the growth of small and micro-enterprises in the region.
A municipal announcement stated that the inauguration of the business incubator reinforces the commitment to boost entrepreneurship, promote employment, and strengthen and diversify the local business fabric.
Entrepreneurs in Lajes das Flores have access to various facilities within the municipal building, including a shared workspace equipped with computers and internet access, a meeting area, and an exhibition space for later product displays.
The entire business incubation process spans 36 months, and space usage is free for participants, as noted by the vice-president.
The building housing the business incubator was entirely constructed by the Lajes das Flores Municipal Chamber, with a total cost of approximately 700,000 euros. The project received 500,000 euros in community fund contributions.
