• The agreements reached in this first phase have allowed the program to capture 234.5 million euros, of which 83.5 million are public investment
  • The objective is to help innovative technology-based companies access new markets

The Minister of Economy and Competitiveness, Luis de Guindos, today presented the INNVIERTE program, in which seven large companies have participated so far and whose objective is to promote public-private collaboration to financially support innovative SMEs. In the first phase, the program has mobilized investment commitments worth 234.5 million euros.

The event, held at the headquarters of the Center for Industrial Technological Development (CDTI), was attended by the Secretary of State for R + D + i, Carmen Vela; the Secretary General for Science, Technology and Innovation, Román Arjona; the general director of the CDTI, Elisa Robles; the presidents of Telefónica, César Alierta; Repsol, Antonio Brufau; and FCC, Baldomero Falcones; Arteche CEO, Alexander Arteche; the director of corporate resources at Iberdrola, Fernando Becker; the general director of Aqualogy (Agbar), Arsenio Olmo and the territorial executive director of Madrid of CaixaBank, Juan Carlos Gallego.

In this first phase, the committed investments will be carried out through public funds contributed by INNVIERTE (83.5 million) and by the tractor companies: Telefónica (26 million euros); Iberdrola and Agbar (15 million each); CaixaBank, Repsol, FCC and Arteche (12 million euros each). The remaining 47 million will be assumed by other public and private investors.

The Minister of Economy has stressed that "the ultimate goal of the Government's policy is to place the Spanish economy in the highest standards of competitiveness and to this end all the reforms that the Executive has been doing since last January are oriented."

Luis de Guindos explained that this type of "public-private collaboration actions to promote the innovative business fabric are the way for the development of society and the economy in the direction that this Government is pursuing."

INNVIERTE will contribute to the intelligent capitalization of technology-based and innovative companies that have a high potential for return, even if their profile implies taking some risk. The investees will be innovative and technological SMEs in the launch phase (start-up) or expansion.

The seven companies, leaders and benchmarks in their sectors, will act as private co-investors and will facilitate better access to markets for participating SMEs, as well as new clients and support in their internationalization processes.

In this way, the potential of public investment and that of the private sector are combined to provide innovative SMEs with management capacity, expansion channels and knowledge of new markets.

The INNVIERTE program aims to deepen the dynamism of investment in strategic and future sectors, thus responding to a real and urgent need for the Spanish economy to finance innovative business projects with high growth potential.

The commitments acquired are detailed below. In the cases of Telefónica and CaixaBank, the agreements are articulated through risk capital entities; in the rest of the cases, through co-investment contracts.

one.- Agreement with Telefónica (ICT technology area): It is articulated through two funds managed by individual managers, which are already operational:

Amerigo Innvierte Spain Ventures, managed by Active Capital Partners SGECR. It has already invested in 5 companies a volume of six million euros.

  • Telefónica – 11 million euros
  • Innvierte – 10 million euros
  • Other participants – 33 million euros.

Amerigo Innvierte Spain Technologies, managed by Cygnus Asset Management SGIIC. He has already invested in 7 companies for 750,000 euros.

  • Telefónica – 15 million euros
  • Innvierte – 15 million euros
  • Other participants – 12 million euros

2.- Agreement with Iberdrola (Energy and environment technology area):

  • Iberdrola: – € 15 million
  • Innvierte – 11.25 million euros

3.- Agreement with Agbar (Energy and environment technology area).

  • Agbar – 15 million euros
  • Innvierte – 11.25 million euros

4.- Agreement with CaixaBank (Scope of industrial technologies). It is articulated through a venture capital company (Caixa Innvierte Industria) managed by Caixa Capital Risk. A first investment will be closed soon for an amount of 800,000 euros.

  • CaixaBank – 12 million euros
  • Innvierte – 9 million euros
  • Other shareholders – 2 million euros

5.- Agreement with Repsol (Energy and environment technology area).

  • Repsol – 12 million euros
  • Innvierte – 9 million euros

6.- Agreement with FCC (Energy and environment technology area).

  • FCC – € 12 million
  • Innvierte – 9 million euros

7.- Agreement with Arteche (Energy and environment technology area).

  • Arteche – 12 million euros
  • Innvierte – 9 million euros

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