ICEX-Invest in Spain allocates two million euros to attracting innovative projects

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The program, co-financed by the EU, has supported over 240 projects and generated 2,500 jobs since 2015

ICEX-Invest in Spain launched a call for a "Program of investment by foreign companies in R&D activities", also known as the “Smart Technology Fund”. Registration is open until January 4, 2021.

This program is endowed with a total of up to two million euros, and ICEX-Invest in Spain aims to promote the development of new R&D activities by foreign companies seeking to become established in Spain, and those companies already established in Spain that intend to continue investing in research. The subsidies awarded will be co-financed with funds from the ERDF through the 2014-2020 Pluri-Regional Operational Program in Spain.

The maximum amount of subsidy per beneficiary is 200,000 euros. The amount depends on the size of the company and the nature of the project: it ranges between 25% for experimental development in large companies through to 80% for industrial research by SMEs.

The funds will granted for activities undertaken before December 31, 2021, in the Autonomous Communities of Canary Islands, Castile-La Mancha, Extremadura, Murcia and Galicia.

In addition to foreign companies, consortia of companies in which at least one is financed by foreign capital can also participate without these clusters needing to have a legal status.

For the purposes of this call, a foreign-owned company is considered to be one that has foreign direct investment (FDI) in its capital stock equal to or greater than 10% of its value, and FDI will be regarded as any investment made by a legal person domiciled outside Spain or by a natural person who is non-resident in Spain.

Since its beginnings, this program has supported over 240 projects, with an impact on 2,500 highly skilled employees and has mobilized 91 million euros in investment.

Requests for subsidies should be formalized via the ICEX Virtual Office.

For more information: Call 2021