OutSystems Extends Research & Development Program with Government Support
Lisbon, PT - March 12, 2009
OutSystems, provider of the industry leading Agile Platform application development environment, signed today a financial incentives contract with the Portuguese Government regarding the Research & Development (“R&D”) project ‘Collaborative Solution for the Development of Business Support Applications over the Internet’.
The project was submitted under the Incentive System for Research and Technological Development (“SI I&DT”), which is part of the Portuguese National Strategic Reference Framework (“QREN”), and involves the research and development of a technological solution intended to build applications using the Internet as a means of access to all necessary tools and environments, namely through the Software-as-a-Service (“SaaS”) model (more commonly known as Platform-as-a-Service (“PaaS”)).
The contract comprises a total investment amount of EUR 935,696.61 during the period from March 1, 2008 to February 28, 2010, and estimates a non reimbursable grant of EUR 416,335.41, which represents an incentive rate of 65% of the eligible expenses.