Grants available for foreign companies investing in R&D in Spain

The Spanish government has just announced the injection of €5 million in grants and subsidies for foreign companies investing in R&D in Spain. The funds are available from next year and will help foreign-owned enterprises integrate with Spanish R&D programmes.

Innova Invest

Under the auspices of ICEX, the government body responsible for promoting investment in Spain, the programme has just been launched. Known as Innova Invest, it aims to attract foreign companies investing in R&D in Spain by offering substantial financial help.

Innova Invest forms part of the national programme to kickstart the economy after the pandemic. Specifically, Spain aims to increase its competitiveness and productivity through the initiative. Ultimately, the programme’s objective is to open new R&D centres in Spain.

Requirements to access funds

To qualify for a subsidy and/or grant from Innova Invest, foreign companies must fulfill the following conditions:

  • They must be at least 50% foreign owned.
  • R&D projects must take place during 2022 and the first half of 2023.

There are no geographical limitations so projects may be carried out anywhere in Spain.

Funds available

The first stage of Innova Invest comes with a subsidy and grant package worth €5 million. Each beneficiary is eligible for up to €800,000 and the funds may be used for expenses.

The programme will give priority to industrial research rather than experimental development. In addition, And it will look more favourably on smaller companies.

Get professional advice

Our expert legal team has years of experience in helping foreign companies access grants and subsidies in Spain. If your company is interested in Innova Invest, get in touch to find out how we can help you.

Maria Luisa Castro

Director and Founder
María founded CostaLuz Lawyers in 2006 and is the Firm’s Director. María is registered Lawyer number 2745 of the Cadiz Bar Association and is licensed to practice in all areas of law throughout Spain. Working closely with her team, María has developed the firm into one of the most highly regarded and trusted Spanish Law Firms acting for English-speaking clients with legal problems in Spain. We’re here to help. Contact us today for a free no-obligation consultation.
 

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