• The objective is for medium-sized companies with technological capacity to obtain financing for their growth
  • The CDTI will commit in 2015 around 900 million euros to finance R + D + i projects

The Secretary of State for R + D + i, Carmen Vela, has announced the launch of a fund for private equity to support Spanish mid-cap companies. This initiative of the Center for Industrial Technological Development (CDTI) aims to mobilize a total investment of between 400 and 600 million euros, of which 100 million will be contributed by CDTI itself.

This new fund will offer facilities for Spanish mid-cap companies with proven technological capabilities to access a capital market that allows them to tackle higher levels of growth and expansion. Investments will be directed mainly to the sectors of chemistry (including pharmacy), the electronics and ICT industry, the transport industry, biotechnology and agri-food, energy and capital goods.

Through this instrument, the public sector shares risk with Spanish innovative companies that are committed to growth, quality employment and international competitiveness. This measure together with others of a similar nature dedicated to earlier phases (seed capital and venture capital) allow reinforcing specialized investments in technology companies, completing a path that began in 2012, when CDTI launched a first initiative in this regard: Innvierte venture capital funds.

Other measures

Among the novelties for this year, it is worth highlighting the CDTI's commitment to dedicate 900 million euros to financing R + D + i projects. In addition, it will manage nearly 800 million euros from the Multi-regional Operational Program for Smart Growth during the 2014-2020 period.

The Strategic Program for National Business Research Consortia (CIEN) will have 150 million euros this year, 20% more than in 2014, which will make it possible to finance a greater number of projects.

The Innovation Hotline, whose purpose is to finance business projects that involve the incorporation of new technologies and the technological modernization of companies, establishes more advantageous interest rates for companies and improvements in advances.

All projects co-financed with ERDF funds will have a non-reimbursable tranche that can reach up to 20% of the aid granted to each project. In addition, to promote the internationalization of Spanish companies, the non-reimbursable tranche (may reach up to 30% of the aid granted) of international technological cooperation projects has been increased.

Regarding the pluri-regional program FEDER Innterconecta 2015, a new call will be opened with a budget of 110 million euros. This program promotes the development of integrated experimental development projects, with a strategic and large dimension, that develop innovative technologies in future technological areas and in less developed regions.

Finally, the CDTI will grant Neotec grants with subsidies to promote the creation and consolidation of small technology-based companies with less than four years of life.

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