Canary Islands New Funding Initiative

Overview

The Canary Islands government has announced a new funding initiative to boost the competitiveness and sustainability of local companies.

• Budget: €1.65 million
• Purpose: Support business growth and innovation
• Application deadline: June 30, 2026
• Applicable activities period: throughout 2025
• Funding amounts:
  • Tenerife and Gran Canaria: from €5,000 up to €300,000
  • Other islands: up to €100,000

Program Details

This program, regulated by the local economic ministry and managed by the Canary Islands Technological Institute, emphasizes helping businesses get started or expand.

• Eligible applicants:
  • Must have at least one employee
  • Must meet specific fiscal and registration requirements related to activity start dates
• Focus:
  • New and existing enterprises that contributed to local economic development

Significance

For expats and entrepreneurs living in the region, this initiative means more support for local enterprise creation and growth, especially as the islands recover from economic challenges.

• The grants could provide crucial capital for:
  • Innovation projects
  • Job creation
  • Long-term sustainability
• Regional goal: Diversify and modernize the economy