Canary Islands Government Updates International Business Scholarship Program Regulations

The Canary Islands government has updated its regulations for the International Business Scholarship Program, a key initiative supported by European funds aimed at boosting regional exports and attracting foreign investment.

Purpose of the Update

• Refining selection processes
• Improving transparency
• Strengthening the quality of training, particularly the Master's program in International Business offered online

This update comes after feedback from previous calls and aims to ensure beneficiaries acquire high-level skills to help local companies expand overseas and modernize their operations.

Key Changes

• Making the application, selection, and compliance procedures clearer and more efficient
• Establishing secondary reserve lists for practical training slots
• Streamlining management of funding transfers
• Clarifying obligations around transparency and public visibility of funded activities
• Tightening conditions for beneficiary eligibility, emphasizing:
  • Language skills
  • Residency in the Canary Islands
  • Accreditation standards for partner universities

Goals and Expectations

• Reinforce mechanisms to professionalize and internationalize local enterprises
• Foster a more competitive and resilient regional economy
• Turn the Canary Islands into a hub for export-oriented talent
• Help young professionals and companies adapt to the globalized market
• Ensure sustainable growth and economic diversification

Official Quote

The reforms aim to make the program more transparent, efficient, and capable of fostering high-level skills among beneficiaries."