"Investing in International Competitiveness" Program with Government Support
Lisbon, PT - July 5, 2012
OutSystems, provider of the Agile Platform application development environment, signed today a financial incentives contract with the Portuguese Government regarding an investment project focused in the Company’s international growth strategy entitled “Investing in International Competitiveness”.
The project was submitted under the Incentive System for Qualification and Internationalisation of SMEs (“SI QIPME”), which is part of the Portuguese National Strategic Reference Framework (“QREN”), and involves the implementation of OutSystems’ international growth strategy towards new market segments, namely SMEs and startups, and towards the consolidation of the Company’s presence in the United States, Netherlands, Brazil, United Kingdom and Australia.
The contract comprises a total eligible investment amount of EUR 278,700 during the period from May 1, 2011 to April 30, 2013, and estimates a non-reimbursable grant of EUR 139,350, which represents an incentive rate of 50% of the eligible expenses.