Frederico Mendes & Associados

What Frederico Mendes & Associados does

Frederico Mendes & Associados – Sociedade de Consultores, Lda. (FMA) is a privately held Portuguese business management consultancy founded circa 2006-2007 in Espinho, with a second office in Funchal, Madeira. The firm provides independent advisory services focused on the identification, structuring, application, execution and audit of tax and financial incentives available to Portuguese and European organizations. Across nearly two decades FMA has supported approximately 3,000 projects and mobilized more than €1.2 billion in investment through programs including SIFIDE II, RFAI, Portugal 2030, the Portuguese Recovery and Resilience Plan (PRR), and PEPAC. Its customer base spans knowledge- and technology-intensive organizations, SMEs, research centers and universities, and the agricultural sector.

The firm's offering is organized into six named service lines—Incentives Monitor (diagnostics and roadmap planning), Incentives Application (application preparation and contract negotiation), Incentives Management (delivery and monitoring of funded projects), Incentives Marketing (communication, dissemination and results exploitation), Incentives Audit (technical audits and recovery of troubled projects) and Incentives Academy (training and capability building)—together described as the firm's 'Innovation Capital Architecture'. Coverage extends across more than 200 distinct national and European fiscal and financial instruments, and a multidisciplinary team delivers legal, accounting, tax, economic and financial expertise in engagements managed end-to-end from opportunity identification through audit.

FMA generates revenue through professional consulting fees on customized engagements, operating a sales-led, relationship-based go-to-market directed at organizations seeking to optimize investment economics via available public incentives. Distribution is exclusively direct advisory, supported by content marketing through the firm's Insights/Blog, LinkedIn presence, a newsletter, and webinars (including joint sessions with partners). In 2025 the firm entered a strategic collaboration agreement with ClarkeModet Portugal and Arosa I+D, enabling cross-border coverage across the Iberian Peninsula and integrating intellectual property management with incentive advisory. The firm positions itself as 'Small by Design', maintaining low headcount (11-50 employees) and reporting that over 76% of active clients have worked with the firm for three or more years.

Name

Frederico Mendes & Associados

Legal name

Frederico Mendes & Associados – Sociedade de Consultores, Lda.

Website

https://fredericomendes.pt

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

Frederico Mendes & Associados is a privately held Portuguese boutique consultancy, founded circa 2007, that advises knowledge-intensive organizations, SMEs, research centers and the agricultural sector on identifying, applying for and managing tax and financial incentives such as SIFIDE II, Portugal 2030 and PRR.

Ownership category

akta.pro rank

Headquarters

HQ city

Espinho

HQ country

Portugal

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Consulting Advisory Services: FMA provides specialized advisory services on tax incentives (such as SIFIDE II, RFAI), financial incentives (Portugal 2030, PRR), and innovation funding. Revenue is generated through professional consulting fees for services including incentive diagnostics, application preparation, project management, audits, and training.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Frederico Mendes & Associados (FMA) is a Portuguese business management consultancy that advises organizations on identifying, applying for, and managing Portuguese and European tax and financial incentives (SIFIDE II, RFAI, Portugal 2030, PRR, PEPAC). The firm delivers end-to-end advisory services spanning incentive diagnostics and roadmap planning, application preparation and contract negotiation, management of funded projects, audits and recovery, communication of results, and training, primarily for knowledge- and technology-intensive organizations, SMEs, research institutions, and the agricultural sector.

Product overview

Frederico Mendes & Associados (FMA) is a Portuguese consulting firm that offers a unified portfolio of advisory services organized around six interconnected service areas focused on fiscal and financial incentives. The core offering includes Incentives Diagnostics and Roadmap Planning, Incentives Applications and Contract Negotiation, Funded Projects Management and Monitoring, Communication and Results Exploitation, Audits and Project Recovery, and Training and Skills Development (Incentives Academy). These services are designed to help organizations identify investment opportunities, structure funding applications, manage funded projects, and build internal competencies. FMA operates primarily in Portugal supporting access to national and European incentive programs including SIFIDE II, Portugal 2030, PRR, PEPAC, and various regional operational programs.

Differentiator

Problem solved

Functional benefit

Brands

• Incentives Monitor: Diagnóstico e Planeamento de roadmap de incentivos - Diagnosis and roadmap planning for incentive systems.
• Incentives Application
• Incentives Management
• Incentives Marketing
• Incentives Audit
• Incentives Academy

Products and services

• Incentives Monitor (Diagnóstico e Planeamento de Incentivos) Identification of investment opportunities and development of a strategic financing roadmap through fiscal and financial instruments, aimed at organizations seeking to optimize access to tax and financial incentives.
• Incentives Application (Elaboração de Candidaturas e Negociação de Contratos) End-to-end preparation of applications to incentive schemes and support throughout analysis and negotiation of public funding proposals, for organizations seeking public financing for investment or innovation projects.
• Incentives Management (Gestão e Acompanhamento de Projetos Financiados) Comprehensive multidisciplinary management of applications and publicly funded investment projects at national and European level, covering execution, monitoring, and reporting for beneficiaries of incentive programs.
• Incentives Marketing (Comunicação, Disseminação e Exploração de Resultados) Planning and implementation of communication, dissemination, and results exploitation strategies for funded projects, helping beneficiaries meet program visibility and exploitation obligations.
• Incentives Audit (Auditorias e Recuperação de Projetos) Technical and compliance audits and design and implementation of recovery strategies for funded projects facing execution or compliance challenges, aimed at organizations that have received public incentives.
• Incentives Academy (Formação e Desenvolvimento de Competências) Specialized training and capability building across technical and functional areas related to funded projects, supporting organizations and professionals seeking to build internal expertise on incentive schemes.

Quantifiable outcome

• Over €1.2 billion in investments mobilized across approximately 3,000 supported projects
• +3 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• ClarkeModet PortugalcoreStrategic or Co-development PartnerStrategic collaboration agreement providing integrated services combining ClarkeModet's industrial and intellectual property management expertise with FMA's specialized advisory in innovation funding, grants, and tax incentives. ClarkeModet clients gain access to FMA's expertise in funding and tax incentives, while FMA clients benefit from ClarkeModet's extensive experience in protection, enforcement, and monetization of intangible assets such as patents, trademarks, data, and know-how. ClarkeModet is the leading group in comprehensive management of intangible assets in Spanish- and Portuguese-speaking markets with presence in 13 countries and over 600 professionals.
• Arosa I+D (ClarkeModet Group)coreStrategic or Co-development PartnerSpecialized company within ClarkeModet Group focused on innovation funding and tax incentives. The agreement enables FMA clients with projects in Spain to access Arosa I+D's services, and vice versa, extending coverage across the entire Iberian Peninsula. The three companies (ClarkeModet, Arosa I+D, and FMA) share a common goal of providing coordinated, rigorous support tailored to the technological realities of each country in the Iberian market.

Scale indicators6 records

Recent moves4 records

Expansion highlights5 records

Emerging players

• FundingBox: European funding platform connecting SMEs and startups with grants and equity financing, with consultancy layers. Overlaps with FMA in incentive discovery and application support, though more tech-platform led.

Direct peers

• PNO Consultants: Pan-European innovation funding consultancy supporting public and private organizations in securing EU and national grants. Comparable end-to-end model spanning opportunity identification, application, and project management.
• Arosa I+D (ClarkeModet Group): Specialist in innovation funding and tax incentives operating in Spain as part of the ClarkeModet Group. Most directly comparable peer: FMA's strategic partner but also a direct competitor in the Iberian innovation-funding advisory market.
• Zabala Innovation: Spanish consultancy dedicated to obtaining public funding for R&D and innovation projects across Spain and Europe. Highly comparable service portfolio to FMA's incentive application and project management lines.
• EUROPROJECT (AMIRES Group): European consulting firm specializing in R&D funding, innovation strategy, and project management across EU programs. Comparable advisory focus on grants, tax incentives, and innovation financing for SMEs and research organizations.

Broad incumbents

• EY Portugal: Big 4 firm with a Tax and Innovation Incentives practice serving Portuguese clients on SIFIDE and EU funding. Similar functional offering to FMA within a much larger advisory platform.
• Deloitte Portugal: Big 4 firm in Portugal with a Tax & Legal practice covering R&D tax incentives (SIFIDE), Portugal 2030, and PRR advisory. Overlaps with FMA's incentive advisory but as part of a much broader portfolio.
• PwC Portugal: Big 4 firm providing tax incentives, grants, and innovation funding advisory in Portugal. Comparable offerings but delivered through a global network rather than a dedicated boutique.
• KPMG Portugal: Big 4 firm with tax and advisory services including R&D tax credits and EU grant advisory in Portugal. Competes for the same SME and enterprise incentive-advisory clients as FMA at the premium end.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fma-frederico-mendes-e-associados

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Frederico Mendes & Associados