Canary Islands Business Support Program

The Canary Islands government has announced a comprehensive business support program aimed at boosting investment, competitiveness, and sustainability across the region.

Funding Lines

• The initiative features three main funding lines:
  • One for small and medium-sized enterprises (SMEs) investing between 30,000 and 300,000 euros.
  • A second for SMEs with investments from 5,000 to 300,000 euros.
  • A third open to companies of all sizes with investments starting at 300,000 euros in Tenerife and Gran Canaria, or 100,000 euros elsewhere.

Funding Details

• This program, co-financed by EU funds through FEDER Canarias 2021-2027, aims to:
  • Foster local economic development
  • Create jobs
  • Expand markets

Regulations and Procedures

• The 2025 regulations stipulate:
  • Streamlined procedures to facilitate quick access to grants
  • Emphasis on transparency, legal security, and effective regulation aligned with EU and national laws.

Business Support Activities

• Businesses will be supported in activities such as:
  • Establishing new companies
  • Improving productivity
  • Adopting quality certifications
  • Implementing sustainable practices

Aid and Incentives

• The aid amounts are capped at nearly 60,000 euros.
• Additional incentives are available for:
  • Job creation
  • Gender balance
  • Innovation in sustainability.

Usage and Compliance

• The program seeks to ensure:
  • Funds are used within specified periods and conditions.
  • Strict rules against misuse or non-compliance.

Overall Goal

The program is a substantial effort by the Canary Islands to energize its local economy, especially through targeted support for startups and SMEs looking to grow and adapt in a competitive global market.