Innovative companies will have access to 500 million euros through the CDTI, funds mobilized by the Ministry of Science and Innovation.
The CDTI is a state organisation whose function is to support innovation through subsidies or partially reimbursable aid, thus facilitating the capitalisation of innovative companies. It also helps to internationalize the R&D&I projects of Spanish companies.
These emergency measures are aimed at R&D&I oriented SMEs and Mid-caps, their objective is to fight against the economic consequences of the current crisis, protecting employment in the research and innovation sector.
The implementation of those measures will be immediate given that they will apply to instruments that are already in operation. They will involve exemption from providing guarantees when applying for aid for R&D&I projects, speeding up project approval, extending the Lic-A instrument to the whole of Spain and making the deadlines for partially reimbursable aid more flexible. These measures will not be applied retroactively.
These precepts will be extended in cases where the innovative activity is related to products required during the current alarm state, such as masks, PCR and rapid diagnosis kits, protective glasses and gloves, gowns, hydroalcoholic solution, etc.
Additionally, a Fast Track will be included as part of those measures, to ensure effective company management that will maintain strategic investments and qualified employment. Priority will be given to the projects related to the above-mentioned emergency products.