The CDTI launches new financial assistance to boost technological innovation.

-aid granted, which will be co-financed with a technological background, consist of loans subsidised with an interest rate of 2%

Spain, February 2013.- the Centre for Industrial technological development (CDTI)body under the Ministry of economy and competitiveness, has launched the direct line of innovation, which has as its objective part-finance, by means of loans loans with an interest rate of 2%, business projects that involve the incorporation and adaptation of technologies involving a competitive advantage for companiesas well as improvement processes of adaptation to new markets and technologies.

Both commercial companies and cooperatives, regardless of its size, can benefit from this aid which is granted by the CDTI and which will be cofinanced with technological background, a special European Fund for Regional Development (ERDF) game dedicated to the promotion of r & d business in Spain.

Projects that qualify for this line — whose maximum duration should not exceed 18 months — must have a fundable budget of 175,000 euros. In General, financial coverage may reach up to 85% of the fundable total budget of each project.

In addition, the applicant companies may benefit from an advance payment of 25% — with a limit of up to 300,000 euros —, about the aid granted, without the requirement of an additional guarantee; or up to 75%, in which case, as requested guarantees to enterprises. The maximum funding per beneficiary and year will be conditioned to legislation which establishes the regime of de minimis for the European Commission.

Are considered fundable investments: the acquisition of new fixed assets — whose investments can reach 100% of the total budget provided that innovation a major technological leap for the company —; personnel costs; materials and consumables; external collaborations; general expenses, and costs of audit.

All the investments and expenses shall be subsequent to the date of presentation of each proposal.

Submission of applications

Requests to obtain these grants shall be completed through the application on-line project application, accessible via the electronic site of the CDTI.