1 December, 2021

INNOVA INVEST, a new programme to support foreign investment in R&D

In the aftermath of the COVID-19 pandemic crisis, EU Member States swiftly adopted coordinated emergency measures to protect public health and prevent the collapse of the economy. The EU agreed on a far-reaching package of measures, known as Next Generation EU, worth 750 billion euros and including the Recovery and Resilience Facility.

Based on the above, the Spanish government drew up the Recovery, Transformation and Resilience Plan, which includes ten policies that will directly drive the productive sectors with the greatest capacity to transform the economic and social fabric.

The projects that make up this Recovery Plan, aligned with the objectives of the Recovery and Resilience Facility, as well as the green and digital transition, will enable structural reforms to be made in the coming years, through regulatory changes and investment that will on the one hand allow a change in the production model for the recovery of the economy after the COVID-19 pandemic, and on the other, a transformation towards a more resilient structure that will enable our model to successfully face other possible crises or challenges in the future.

The INNOVA INVEST Programme, which is part of the Recovery Plan, supports foreign investment in R&D through a range of subsidies aimed at companies with foreign capital that conduct R&D in Spain, so as to encourage their integration into the productive and research fabric of our country.

This programme has a financial allocation of €10 million, divided into two rounds of €5 million each, which will go to investment projects of more than €500,000, with a maximum support per beneficiary of €800,000. These projects will be selected on a competitive basis according to the criteria set out in the call for applications (employment, the green transition, etc.). The aid intensity will depend on the type of project and the size of the company, ranging from 25% to 70% of the project amount.

The applications must be sent through the ICEX Virtual Office.

More info: Innova Invest Call 2021