Taguspark supports companies with 750,000 euros to minimize the impact of the pandemic

Since March 2020, Taguspark - City of Knowledge has supported resident companies with around 750,000 euros. These measures, which aim to help businesses that have been affected by the pandemic, have involved the vast majority of tenants and around 20 companies.

To combat the impact caused by the pandemic, Taguspark has been developing a series of measures to support companies and tenants located in Portugal's largest Science and Technology Park. Most of the support focuses on the shortfall in rents, condominiums and other services provided by Taguspark, but there has also been an increase in purchases and the acquisition of goods and services in some commercial areas resident in the Park, contributing to the vitality of internal businesses.

The Taguspark Incubator, the only one in the south of the country with laboratories prepared for start-ups in chemistry, bioengineering and life sciences, was particularly targeted in the support measures, as it has new companies and start-ups that need incentives and a reinforced support network to get off the ground and develop their activities. It should be noted that the Taguspark Incubator is the only national incubator that was at the origin of one of Portugal's unicorns, Talkdesk.

According to Eduardo Baptista Correia, CEO of Taguspark - Cidade do Conhecimento, "these measures are part of our mission to become Europe's Most Civic Park, where we value well-being and the implementation of good practices that are fundamental to our community. As such, aware of the challenging context that several companies and tenants are facing, we decided to provide support through the allocation of shortages and suspension of billing, with customized solutions adapted to the different business areas, to minimize the impact of the pandemic."

As the unpredictable context evolves, Taguspark will continue to monitor the needs of its ecosystem, reviewing support and defining tailor-made solutions for the companies and commercial spaces that are part of it.

In addition, Taguspark has made efforts to attract audiences to the commercial spaces, having resumed summer concerts in May 2021 and opted to maintain art exhibitions throughout the year, while respecting the safety standards imposed by the current context.