Canary Islands Innovative Funding Initiative

Overview

The Canary Islands government has announced a €5 million fund to support innovative companies in priority areas aligned with the region's smart and sustainable growth strategy.

Starting February 3, 2026, businesses can apply for grants of between €100,000 and €300,000 to finance projects that promote technological innovation and digital transition. The funding is co-funded 85% by the European Union under the FEDER program.

Eligibility and Criteria

• Companies must create at least one permanent full-time job within six months of starting the project.
• Funding covers direct personnel costs and other eligible expenses.
• Assistance is considered a de minimis aid, limited to €300,000 per company over three years.

Objectives

The initiative aims to bolster the region’s digital and technological capacities, fostering economic transformation and innovation.

• Encourage high-tech development.
• Support Canary Islands’ efforts to enhance competitiveness.
• Promote regional integration within the EU framework.

Application Process

• Applicants must submit proposals via the regional electronic portal.
• Submission deadline: March 31, 2026.
• Required documents include various legal and financial documents.

Regional Commitment

The initiative reflects the region’s commitment to:

• Promoting research, innovation, and digital infrastructure.
• Positioning the Canary Islands as a hub for high-tech growth.