This document contains the rules and regulations for the upcoming HUB Azul Madeira program.
To participate in the program, you are required to read and acknowledge the rules and regulations set forth in this document. It is equally advisable and highly recommended that you take some time to make sure you comprehend and comply with these rules and regulations.

01.INTRODUCTION

1. The Hub Azul Madeira program, organized by Startup Madeira and Forum Oceano, is divided in two sequential stages: Bootcamp and Implementation.
2. The Bootcamp stage will take place on the 24th, 25th and 26th of January 2024, in Madeira Island, Portugal. It aims to welcome and work with a group of Blue Economy-related Startups and will be used to develop the Startups’ strategies, business models, products and/or processes and align them with the goals the Hub Azul Madeira program.
3. Participation in the Bootcamp requires that the team is present physically in Madeira Island, with the objective of working and sharing business experience with other startups and with local mentors. During the Bootcamp, all participants will be assisted and accompanied by local hosts.
4. Up to 10 of the participating Startups will be selected at the end of the Bootcamp, and given the option to move on to the Implementation stage. This stage will begin with the communication of the results, on the 4th of December 2023, and does not have a defined end date. It aims to support the selected Startups in establishing themselves and operating permanently on the premises of Hub Azul Madeira, located in the Caniçal area, Madeira. Participation in the Implementation stage is voluntary, meaning that Startups are allowed to reject participation in the Implementation stage if they are selected after the Bootcamp.

02. OBJECTIVES OF THE MADEIRA HUB AZUL PROGRAM

1. The HUB Azul Madeira program aims to create a knowledge and innovation hub, specialized in the Blue Economy, in Madeira Island, generating, multiplying, and benefitting from ecosystem effects in these industries.
2. In the Bootcamp stage each Startup will gain more knowledge, boost their Startup, as well as increase their networking with some of the most relevant Blue Economy stakeholders in Madeira Island.
3. In the Implementation stage, the 10 selected startups will relocate to the Caniçal area, in Madeira Island. This will further leverage their activity by giving them access to specific assets and services that are part of the Hub Azul Madeira, as well as permanent mentorship and support from a network of Blue Economy mentors(detailed below). The goal of this stage is to identify and attract relevant Blue Economy startups to Madeira Island.

03. HUB AZUL MADEIRA IMPLEMENTATION STAGE

The Implementation stage will take place on the HUB Azul Madeira premises in the Caniçal area in Madeira Island. Its value proposition includes, but is not limited to, the following elements:

1. A physical office space adapted to each selected Startup’s requirements, with a symbolic rent.
2. Inclusion in the Madeira’s International Business Centre of Madeira (MIBC), managed by SDM – Sociedade de Desenvolvimento da Madeira (detailed below). Membership fees apply, but may be waivered.
3. Facilitated access to Madeira’s Technological Free Zone, or ZLT (Zona Livre Tecnológica), expected to be operational during 2024, an ocean area dedicated to technology experimentation, with depths of up to 4000 meters.
4. Facilitated access to testing spaces at sea managed by ARDITI and the Oceanic Observatory of Madeira
5. Access to a Data Service from the Oceanic Observatory of Madeira, managed by ARDITI. The service will allow Startups participating in this stage to access information resulting from research projects coordinated by ARDITI, as long as that information is not confidential.
6. For the first 24 months, an array of legal and incubation services, will be provided by Startup Madeira, according to each Startup’s needs. These include: support in the preparation of applications to specific funding instruments available in Madeira; support in the relationship with Hub Azul Madeira’s investor network. All funding or investments happening within the framework of the program are to be defined on a case-by-case basis.

04. INCLUSION IN MADEIRA’S INTERNATIONAL BUSINESS CENTRE (MIBC)
The inclusion of Startups in MIBC entails the benefits listed below. Membership fees apply, but may be waivered.
1. A special tax regime (reduced CIT rate of 5% on qualifying foreign-source income, based on thresholds of taxable income and job creation requirements), which is applicable until 31 December 2027;
2. An 80% exemption from stamp (capital) duty, provided that other parties involved are not resident in Portuguese territory or are also companies operating within the legal framework of the MIBC;
3. Non-resident single and corporate shareholders of MIBC’s companies will benefit from a full exemption from withholding tax on dividend remittances from the Madeira companies, provided that they are not resident in jurisdictions included in Portugal’s “blacklist”. Moreover, Portuguese corporate shareholders will also be exempt if holding a participation of at least 10% for 12 consecutive months.
Requirements for integration in MIBC:
1) Creation of one to five jobs in the first 6 months of operation and undertake a minimum investment of €75.000 in the acquisition of fixed assets, tangible or intangible, in the first two years of operation;
OR
2) Creation of six or more jobs in the first 6 months of operation.

05. HUB AZUL MADEIRA NETWORK
1. The Startups will also have permanent access to a group of mentors, selected from amongst the most relevant Blue Economy stakeholders in Madeira Island. These include, but are not limited to, the following:

1. IlhaPeixe  – Aquaculture
2. Grupo Sousa  – Shipping & Logistics
3. SDM – Sociedade de Desenvolvimento da Madeira  – International Shipping Register and Manager of the MIBC
4. Startup Madeira – Entrepreneurship & Innovation
5. Oceanic Observatory of Madeira – Ocean Data

2. The list of mentors on the HUB Azul Madeira network may be subjected to changes due to unforeseeable changes in circumstances.
3. Startups will also have access to Hub Azul Madeira program investors network, that may be willing to invest.

06. NUMBER OF PARTICIPANTS

The HUB Azul Madeira program will work with no more than:
1. 15 Startups in the Bootcamp stage
2. 10 startups, selected within the initial 15, will move on to the Implementation Stage

07. REGISTRATION

1. Registration for the HUB Azul Madeira program is done online, through the designated platform, from July 2023 to September 8th, 2023. Registration deadline is November 27th, 2023, at 23:59 (Lisbon/Madeira time).
2. During registration, each startup must enumerate valid and objective reasons why they want to participate. It is advisable that these be consistent with the objectives and goals of the Hub Azul Madeira program.

08. CONDITIONS & ELEGIBILITY OF PARTICIPATION

1. Registration is open to all male and female participants.
2. Registration is open only to Startups operating in the Blue Economy, namely in but not limited to the fields of Robotics, Fisheries, Aquaculture and Shipping, operating nationally and/or internationally, that have a working prototype or are at seed level.
3. For the Bootcamp stage, Startups not belonging to the EU will need to get a Schengen VISA. If assistance is needed in the application of a 90-day visa, the HUB Azul Madeira organization is available to assist you.
Note: Assistance can only be guaranteed after your application to participate in the Bootcamp stage has been accepted.
4. Startups that voluntarily advance to the Implementation stage are expected to operate from Madeira Island for a period no shorter than 24 months.

09. DATES

1. Registration/application period: June 23rd to November 27th, 2023.
2. When they conclude the process, each startup will have received confirmation (via email) of their registration.

10. EXPENSES

1. To participate in the Bootcamp stage, each Startup team will have to cover their own travel and accommodation expenses to Madeira Island. However, the Hub Azul Madeira Bootcamp organization will provide a list of suggested accommodations at competitive prices.

11. LOCATION

1. For the Bootcamp stage, a fully equipped working office space will be provided to all participants in Funchal, Madeira Island.
2. The Implementation stage will happen on the premises of the HUB Azul Madeira, in the Caniçal area, in Madeira Island.

12. CHECK-IN

1. Respecting previously established check-in times and places is mandatory. All participants must arrive before or until the morning of the launching event on January 24th, 2024, for they need to present at the launch.

14. RESERVED RIGHTS

On no account can the organization be held accountable for deliberate theft and innocent infringement of intellectual property or of things like the lack of originality and/or the publishing of ideas, projects, and ideas.

For this reason, participants wanting to patent their business, ideas, projects, and concepts and/or register the Intellectual Property Rights (IPRs) of their ideas/business, are encouraged to do so at their own responsibility.
The HUB Azul Madeira mentors are available to support.

15. LIVING IN MADEIRA

For the Bootcamp stage, the HUB Azul Madeira will help each startup team travel to Madeira in the period of 24-26 of January 2024: a list of suggested accommodations during the program for each startup will be provided by the organization. As soon as your registration is accepted, the organization will kindly guide and assist you in the booking process.
While in Madeira, a local host will be assigned to help and support each startup team. For startups that reach the Implementation stage, relocation support will be provided.

16. WITHDRAWAL AND FINAL PROVISIONS

If, for any reason, after having registered, a Startup needs to withdraw its application, a replacement startup will automatically stand in. The Startup chosen will be among the teams that registered for this program but weren’t initially selected to participate in the Bootcamp stage.
The doubts that are raised in the application of this regulation will be resolved within the organization.
The organization may, at any time, make changes in this regulation for reasons of force majeure that justify it.
On completion of the registration process and the application form for the HUB Azul Madeira program, you hereby must agree and accept the abovementioned terms, rules, and conditions.

13. CONTACTS

For more details about the program, contact hubazulmadeira@startupmadeira.eu
Note: The program will always be in English.