The Diplomat
ICEX Spain Export and Investment is going to support with almost five million euros the development in Spain of activities with a high innovative component by companies with foreign capital.
ICEX, through Invest in Spain, has decided to award the last grants under the Innova Invest program, whose objective is to promote R&D activities by companies with foreign capital. The Innova Invest program is financed by the Recovery, Transformation and Resilience Plan with EU funds (Next Generation).
The purpose of these grants is to promote the development of new innovative activities both by companies with foreign capital that want to establish themselves in Spain and by companies that are already established and intend to initiate and develop R&D activities. For the purposes of this call, a foreign capital company is considered to be a company with a foreign direct investment participation of 50% or more in its capital.
On this occasion, the program has benefited nine projects to be developed throughout Spain: the Basque Country, Catalonia, Galicia, Castilla-La Mancha, Valencia and Madrid. The total amount of the call for proposals was 4,839,204.64 euros. The maximum amount of the grants is 800,000 euros per beneficiary.
The selected projects contemplate R&D activities related to software, robotics, electric vehicle components, digital printing platforms, bioprocessing of cultured meat, artificial intelligence, blockchain or green hydrogen. The supported activities must be carried out before June 30, 2023.
