ICEX-Invest in Spain allocates two million euros to projects with a high innovation component

This October, the list of companies that are beneficiaries of the 2017 call of the “Investment Program for Foreign Companies in R&D Activities”, also known as the “Smart Technology Fund”, was published.

With this program, ICEX-Invest in Spain pursues a dual goal: to attract to Spain activities with a high technology content and to support the R&D centers of foreign companies that are already established in Spain.

This Fund, of 14 million euros, must implement two million euros annually over seven years, between 2015 and 2021. In line with the European Commission's guidelines for incentivizing regional development in areas with the lowest GDP, at the end of the period ICEX-Invest in Spain will have implemented two million euros in each of the following autonomous communities: Andalusia, Canary Islands, Castile-La Mancha, Autonomous Region of Valencia, Extremadura, Galicia and Murcia.

Selected companies
The two million planned for the 2017 call have been implemented in their entirety. Specifically, 15 companies from six different autonomous regions have been beneficiaries. Five are from Valencia, and two from each of the following: Andalusia, Castile-La Mancha, Extremadura, Galicia and Murcia.

The projects address a broad field of knowledge, comprising from life sciences to the automotive and chemical industries and ICTs. They address a variety of issues, like the study of carcinoma of unknown origin, passing through a smart system for welding the inside of tubes, administering medication to porcine livestock, eliminating chemicals from materials, or securely managing maritime transport containers, among others.

Recognition of management
The Executive Management of Invest in Spain has managed ERDF funds from the European Union since 2007. In a first stage, from 2008-2014, through the “Promoting the Establishment of Foreign Companies” program, 15 million euros of aid was granted to 127 projects; a total investment of 60 million euros was mobilized, and 900 qualified jobs were created.

The program was recognized by the Directorate-General of Community Funds (MINHAP) in 2012 as an example of Good Practices in communication, and in 2014 was considered a relevant action in the management of ERDF Funds by the Network of Public Policies on R&D+i.

Both the call and the definitive list of projects that have been beneficiaries of this aid are published in the ICEX-Invest in Spain website.

Last updated: 10|11|2017

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