LISBON: Development Institute, a state-backed start-up investment vehicle, Pedro Gonçalves, the State Secretary for Innovation, Investment and Competitiveness, told Lusa News Agency on Monday.
“As from today, the bank can advance at cruise speed. With this authorisation from the Bank of Portugal, there is a mandate to get on with all the operations set out in its statutes,” Gonçalves continued, adding that this came in conjunction with the launch of the public application process to join the IFD’s technical team.
The bank was formally set up by the government last September with the IFD at the time endowed with capital totalling €100 million designed to help fund Portuguese companies through their start-up phases.
