In Portugal, an incubator for small local businesses.
NAU is an incubator for companies created in the context of the “SAF- Sines’ Active Future” program. The project intends to provide the necessary tools for entrepreneurs to turn their ideas into profitable businesses, contributing to the creation of new companies and, consequently, the local economy’s development.
NAU: From idea to company creation
NAU project is an incubator for companies destined to support local entrepreneurs with their business ideas. Headed in Sines’ Technopoly, the initiative has EDP’s seal partnered with local entities.
It arises in the context of the “SAF- Sines’ Active Future” project, streamlined by EDP, and that intends to directly impact the lives of the Sines’ Power plant’s workforce and their families.
NAU's mission goes beyond seed capital funds mobilizing or investing, focusing on assisting entrepreneurs from different forefronts. The project acts in different contexts, such as structuring the idea, creating a business plan, and identifying possible setbacks or potential barriers throughout this path. The final goal is to make business ideas a reality.
Be a part of NAU
To be a part of NAU and bring their idea into the incubator, entrepreneurs go through an application process. Overall, 20 vacancies were created, reserved for projects with more potential. The program is made in six stages, beginning in the summer of 2021 and spreading to 2024.
Anyone could apply, as long as they were over 18 years old and lived in Sines and Santiago do Cacém’s City Halls. However, preference was given to candidates with connections to Sines’ Power plant. To apply, all it took was to fill in an online form and hope to be one of the elected ones.
At a later moment, the “Training Plan” stage progressed, holding an intense, practical, and short-term training nature. Among the 12 modules, strategy and business model, for example, were included, as also market analysis or economic and financial analysis. At the end of this journey, participants had to present their business plan, which granted a certificate.
Following the training stage, the period of “Mentorship and Customized Technical Support” set in. There, candidates were guided by a Mentor, who helped them in different forefronts, like the consolidation of their business idea and identifying possible financing sources, outcomes, and investment applications.
The fifth stage, which will run by the end of April 2024, is the moment to bring companies to fruition. After being concluded, a monitoring plan is designed with objectives and performance indicators for each one of the entrepreneurs. Lastly, setting the tone of the ending moment, a presentation ceremony is in order. That ceremony will present the five best business ideas created in the context of NAU.
