Madeira Secures €210 Million for Innovation with 567 New Projects
Madeira GuideIn a significant boost to its innovation efforts, Madeira has attracted 567 new projects worth €210 million, emphasizing digitalization and knowledge transfer.
Madeira's commitment to innovation and economic growth has taken a significant leap forward, as the region has secured 567 new projects valued at €210 million. This development was announced by José Manuel Rodrigues, the Regional Secretary for Economy, at the opening of the 2nd edition of the UMa Science Days, an event organized by the University of Madeira.
The initiative is part of the Madeira 2030 strategy and the Recovery and Resilience Plan (PRR), which aim to enhance research, innovation, and digitalization across the region. Since the start of the current legislative session, the call for projects has seen substantial interest, resulting in these remarkable numbers.
Rodrigues highlighted that the region's technological sector has seen impressive growth, with the number of tech companies increasing from 332 in 2020 to over 700 in 2024. The sector's business volume also doubled, from €308 million to more than €700 million.
Moreover, approximately 10% of Madeira's regional exports now have high technological content, which is double the average of mainland Portugal. This positions Madeira as a competitive player in the digital economy, fostering an innovative ecosystem that directly impacts regional development.
Silvio Fernandes, the Rector of the University of Madeira, emphasized the importance of initiatives like UMa Science Days in the university's strategic plan. These events strengthen scientific and technological cooperation between Madeira, mainland Portugal, and the Canary Islands, forming a 'triangle' of collaboration.
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Madeira Guide
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