The Ministry of Universities, Science, Innovation and Culture (CUCIC), led by Migdalia Machín, has allocated two million euros to the new line of aid to companies for innovative business projects, co-financed by the European Regional Development Fund (ERDF) within the 2021-2027 framework.
The new call aims to promote innovation projects in key sectors of the Canary Islands' Smart and Sustainable Specialization Strategy (extended RIS3), as well as facilitate their access to financing, granted under a non-competitive basis.
In addition, the payment of the subsidy will be made in advance and the intensity of the aid will be 100% of the total eligible expenditure, with the minimum and maximum limit of the subsidy to be granted per project being 100,000 and 300,000 euros, respectively.
The deadline for submitting applications will begin on April 21, 2025 and will end when the available credit is exhausted or, if this does not occur, on June 2, 2025. Applications will be managed entirely electronically through the electronic headquarters of the Government of the Canary Islands.
Five priority areas
The extended RIS3 directs investments towards sectors that represent a competitive advantage for the Canary Islands, promoting the intelligent specialization of its economy in global markets.
The aid focuses on five areas. Digital and sustainable tourism (Innovation to transform tourism into a sustainable and technologically advanced model); Health and well-being (Advances in health technology and solutions to improve the quality of life); Blue economy (Sustainable development of activities related to the sea),
Astrophysics, space and aeronautics (Strengthening research and aerospace technology) and Emerging industries (Innovative sectors with high growth potential).
These aids are intended to promote the transfer of knowledge between companies, universities and research centers; support the incorporation of advanced technologies, promoting business digitization; promote the transition towards a green and sustainable economy, in accordance with global challenges; and increase the dissemination of research results financed with public funds, strengthening the link between science and society.