- The director of Igape, Covadonga Toca, presented the 2025 accounts in Parliament, reflecting a 20% increase that will make it possible to “move towards a more competitive, sustainable Galicia, better prepared to face global challenges”, strengthening the lines of support for digital and technological transformation, business financing and the attraction of investment
- The Economic Office of Galicia is increasing its budget, thus reinforcing a single channel for investors and entrepreneurs, which has already received nearly 10,000 enquiries, reducing bureaucracy and streamlining administrative processes
- Over €33M are allocated to programmes aimed at business competitiveness, including initiatives focused on continuing to promote the dual digital and sustainable transformation, as well as the second edition of the Business Attraction Programme
- New lines of support will be launched to foster innovation management, such as “Tickets Innova 25”, “Igape Innova”, and another focused on Artificial Intelligence (AI) technologies within the productive sector
- €152M are allocated to supporting the financing of companies, SMEs and self-employed workers, a 45.4% increase compared to the previous year, to implement new financial instruments in coordination with Xesgalicia funds, stimulating business spending and boosting economic growth in Galicia
Santiago de Compostela, 7 November 2024
The director of Igape, Covadonga Toca, presented today in the Parliament of Galicia the Institute’s 2025 budget, amounting to €278M. This represents a 20% increase compared to the previous year and translates into more resources to promote a new model of engagement with the Galician business sector, improving competitiveness, strengthening international presence, facilitating access to credit and the launch of new initiatives, and boosting investment attraction.
Within this framework, the Economic Office of Galicia is expanding its budget to reach €6.8M, up 8.8% from 2024, seeking to offer Galician businesses “a single, clear and defined channel for advice and support.” With over 10,000 consultations handled to date, the Office is emerging as a new, more agile, closer and simpler way of interacting with the productive sector.
Commitment to competitiveness
For 2025, the Institute is allocating over €33M to business competitiveness programmes, including the second edition of the Business Attraction Programme, with €12M for major projects that generate wealth and employment. In addition, €10M are earmarked for smaller-scale projects targeting Galician SMEs.
Igape continues to support the dual digital and sustainable transformation, with nearly €5M devoted to various programmes: €3M for digital transformation projects, €1M for multidisciplinary workshops, and another €1M for sustainability initiatives prioritising ESG (Environmental, Social and Governance) projects.
As part of its commitment to entrepreneurship and innovation, Igape is launching a new edition of its specific support line for Galician startups, with an allocation of €1.5M, aimed at fostering the creation of new business models and jobs.
Artificial Intelligence and advanced technologies
“Competitiveness drives business innovation,” continued Toca Carús, highlighting Igape’s commitment in this field, embodied in a new innovation area designed to “promote Galicia’s business innovation ecosystem.”
In this regard, new support lines will be launched to promote innovation management and product design, such as the programme “Tickets Innova 25”, with €1M to facilitate access to innovation certification, and the “Igape Innova” line, with €4M for business innovation investment projects. Within this framework, Igape will allocate over €10M to the implementation of Artificial Intelligence technologies, and €2.3M to a new project to create collaborative data spaces next year.
Igape will also continue to support Galicia’s entrepreneurial ecosystem, with €7M allocated to its network of business factories, which in 2025 will expand with three new accelerators focused on Health and Well-being, the Sports Industry and Renewable Energies.
Record-breaking foreign sales
The director of Igape underlined the Institute’s commitment to supporting Galician companies’ internationalisation, which has led to record export sales. Based on this, in 2025 Igape is allocating €14M to internationalisation, enabling continuity of programmes such as Galicia Exporta Empresas, Galicia Exporta Organismos Intermedios and Galicia Exporta Dixital. In addition, in collaboration with the Galician Chambers of Commerce, Igape will renew the Foexga Plan.
As part of its expansion strategy, in 2025 Igape will open new offices in key markets in Latin America and Asia, adding to the recently opened branches in Japan and the United Arab Emirates. These offices will provide direct support to Galician companies in emerging markets, offering specialised guidance.
45% increase in financing
This broad range of measures is complemented by a significant budgetary allocation to facilitate SME and self-employed financing, amounting to €152M in 2025 — a 45.4% increase over the previous year. This increase will make it possible to implement new financial instruments in coordination with Xesgalicia funds, aimed at stimulating business spending and driving Galicia’s economic growth.
The direct loan scheme stands out, with a €50M allocation for strategic projects that promote technological modernisation and have a multiplier impact on Galicia’s economy. Moreover, a new interest subsidy line will be launched, with a €5M budget to subsidise up to €200M in loans for beneficiaries of financing from Xesgalicia or national public funds, improving financial conditions for Galician companies.
Furthermore, the Just Transition Fund will have over €52M dedicated to financing investment projects in A Coruña that generate employment and diversify the local economy, with partially repayable loans combining grants and credits: €37M for large companies and €14M for SMEs.
In addition, Igape is allocating €14M to continue agreements with financial institutions and mutual guarantee societies (SGRs), enabling €150M in financing for SMEs, easing access to credit and strengthening the solvency of small and medium-sized Galician enterprises.
In conclusion, Toca Carús stated that “these accounts are designed to strengthen Galicia’s productive fabric, support digital transformation and enhance our presence in global markets, turning Galicia into an industrial and economic benchmark.”
