OutSystems today signed a financial incentives contract with the Portuguese Government
Lisbon - September 22, 2015
OutSystems, the world's leading enterprise Rapid Application Delivery (RAD) provider, today signed a financial incentives contract with the Portuguese Government regarding an investment project focused in the Company’s international growth strategy entitled “Strategic Plan 2015-2017: Targeting new international markets”.
The project was submitted under the Incentive System for Internationalisation of SMEs (“SI IPME”), which is part of the Operational Programme Competitiveness and Internationalisation (“POCI”), included in the Partnership Agreement adopted between the European Commission and Portugal, on using EU Structural and Investment Funds for growth and jobs in 2014-2020 (“Portugal 2020”) and aims to support OutSystems (i) to establish itself as a global leader in providing business applications, (ii) to reach new segments and new international markets, and (iii) to generate the necessary band awareness required for effective massification of subscriptions of OutSystems Platform.
The contract comprises a total eligible investment amount of EUR 1,990,808.46 during the period from June 1, 2015 to May 31, 2017, and estimates a non-reimbursable grant of EUR 500,000.00, which represents an incentive rate of 25.12% of the eligible expenses.
Download project file here.
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