- Grants range from €10,000 to €20,000 and cover one hundred percent
- This is a support line that was launched for the first time last year to promote emerging innovative and technological business initiatives
- In Galicia there are currently 311 startups, generating 2,662 jobs and a combined turnover of over €241.2M
- The Xunta’s network of accelerators will have an investment of €7M and will be expanded with three new ones in the fields of health and wellness, sports industry and renewable energies
Santiago de Compostela, January 6, 2025
The Ministry of Economy and Industry, through the Galician Institute for Economic Promotion (Igape), will launch in mid-January the specific grant line for startups which, for the second year, will again have a budget of €1.5M.
This is a support line that was launched for the first time last year to promote emerging innovative and technological business initiatives. The grants, awarded on a non-competitive basis, range from €10,000 to €20,000 and cover one hundred percent of the expenses or investments necessary during the launch or consolidation phase of the project.
According to the annual national report “Tech and Innovative Companies”, there are currently 311 startups in Galicia, generating 2,662 jobs and a combined turnover of over €241.2M. They are mainly concentrated in the cities of Vigo (54), A Coruña (49), Santiago de Compostela (38), Lugo (23), Nigrán (22), Pontevedra (19) and Oleiros (A Coruña) (12). By sectors, most of them belong to the biotechnology, agri-food, health, software analytics, tourism, online commerce or energy fields, among others.
Along with the grant line to be launched soon, Galician startups have at their disposal the Xunta’s network of accelerators coordinated by Igape. This network includes BFAuto, specialized in the automotive sector; BFAero, in the aerospace sector; BFFood, in the food sector; Climatech, in the environmental field; VíaGalicia, which covers the ICT field, the agri-food sector or the textile sector, in collaboration with the Free Zone Consortium (Vigo and Lugo); and other initiatives such as BFMedicines, Agrobiotech, Bioincubatech, Galicia Avanza or Turislab.
This year, this network will have an investment of €7M and will be expanded with the launch of three new accelerators in the fields of health and wellness, sports industry and renewable energies, which makes Galicia a unique ecosystem for innovative entrepreneurship.
The set of accelerators with Xunta participation has supported more than 830 innovative projects, of which 270 received funding for the creation of new companies or for the launch of projects in existing companies. And, in addition, it has contributed to the promotion and boost of 1,400 direct qualified jobs.
Through Igape, the Xunta wants to give greater impetus to innovative entrepreneurship, which also has the services of the Economic Office of Galicia.
