Horta City Council launches 1.3 million euro tender for Startup Faial

The Horta City Council has launched a new public tender for the construction of Startup Faial, a project aimed at modernizing and diversifying the economy of Faial island. The base price for the project has been set at 1.3 million euros, excluding VAT, following a previous tender of 1 million euros that failed to attract any bidders.

The project involves the renovation of a degraded building in the city center and is co-financed by the Açores 2030 Program. The construction is expected to take 600 days, with the deadline for submitting proposals set for September 23.

Mayor Carlos Ferreira described the initiative as a strategic effort to create an innovation ecosystem and an infrastructure to support entrepreneurs and business acceleration. The facility is intended to serve as a hub for incubating innovative companies and fostering economic growth through job creation.