La Xunta de Galicia will consolidate in 2023 the Innovation Bonds program for micro-enterprises and SMEs to gain competitiveness

La Xunta de Galicia advanced the new call for innovation Bonds that will have, in 2023, a budget of 750,000 euros. With these bonds, the First Vice-Presidency and Department of Economy, Industry and Innovation tries to support, especially, companies that incorporate innovation into their strategy for the first time, as well as facilitate the actions they carry out. The Innovation Bonds complement the capacities of companies through the contracting of external services from innovative agents to achieve a qualitative and quantitative leap in their R+D+i activity in the short term.

On the one hand, these grants will make it possible to hire innovation support services, such as innovation protection activities (through utility models and patents), technology management and surveillance, or strategic actions to develop new products, processes, and services, in which include especially design actions. On the other hand, bonds will be granted to cover the costs derived from the processing of the presentation of individual or cooperative aid to the national, European and international R&D&I calls, as well as for the contracting of support services for the processing of tax incentives for R+D+i and, as a novelty, for Social Security bonuses for more than 10 researchers.

In the first edition, the Innovation Bonds reached 66 companies, of which 67% received aid from GAIN -the Galician Agency for Innovation- for the first time. This program will be complemented with other measures for small and medium-sized companies such as InnovaPeme and DeseñaPeme, with which a total of €5.25 million will be made available to these types of companies in the first four months of 2023.

With this type of aid, Xunta intends to bring innovation to the entire Galician business fabric by improving its products, services and processes and generating added value for consumers and clients, as well as achieving a positive impact on its ability to grow and internationalize.