Canary Islands' International Expansion Funding Scheme

Overview

The Canary Islands' government has announced a new funding round aimed at helping small and medium-sized enterprises (SMEs) based in non-capital islands like Lanzarote, Fuerteventura, La Palma, El Hierro, and La Gomera to expand internationally.

• This €400,000 scheme focuses on companies with at least a year's existence willing to venture into foreign markets or strengthen their presence abroad.

Eligibility

• Businesses can operate individually or form groups without legal personality — as long as they designate a representative responsible for the application.
• To qualify, firms must:
  • Be current on their tax and social security obligations
  • Have a product or service with international potential

Funding Details

• The government will allocate funds based on each island's economic weight:
  • Lanzarote will receive the largest share (€152,000)
• Grants will cover up to 75% of eligible expenses, with:
  • A maximum of €4,500 per project
  • A minimum of €2,250
• The deadline to submit applications is one month from the publication date, with the possibility of a small extension.

Objectives

This initiative aims to:

• Boost local SMEs’ competitiveness abroad
• Address the economic diversification priorities of the Canary Islands
• Offer tangible support for their international growth efforts