OutSystems Extends Research & Development Program with Government Support
Lisbon, PT - August 5, 2011
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 ‘Long Tail Business Applications Platform’.
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 new functional environment, which will enable the development of a platform to support new Web and mobile applications, specifically targeted to business activities.
The contract comprises a total investment amount of EUR 1,763,241.98 during the period from March 1, 2011 to December 31, 2012, and estimates a non reimbursable grant of EUR 1,000,000.00, which represents an incentive rate of 59.17% of the eligible expenses.