Cooperation Agreement for Fuerteventura Technology Park

Overview

The Spanish Canary Islands government has officially published a cooperation agreement focused on managing the Fuerteventura Technology Park. This agreement, signed on August 19, 2025, involves:

• The Canary Islands’ Department of Universities, Science, Innovation, and Culture
• The Fuerteventura Island Council
• The Institute of Technologies of the Canary Islands

Its main goal is to ensure the proper operation, management, and maintenance of the technological infrastructure aimed at fostering innovation and supporting local businesses, startups, research centers, and universities.

Background

The deal builds on decades of efforts to establish a tech ecosystem on Fuerteventura, which has seen nearly 20 million euros invested in infrastructure. It also recognizes the importance of creating a vibrant environment that encourages research, technological development, and economic diversification.

Key Elements of the Agreement

• Outlines roles and responsibilities, including promotional activities, financial management, and operational oversight.
• Sets a timeline until December 31, 2028, with the possibility of a four-year extension.

Objectives and Impact

The cooperation aims to:

• Bolster Fuerteventura’s economy by fostering technological innovation
• Attract investment
• Create employment opportunities in a region traditionally lacking such advanced research environments.

Broader Strategy

This move highlights the Canary Islands’ broader strategy to develop science and innovation-driven sectors, ensuring they remain competitive and sustainable while providing tangible benefits to residents and local enterprises.

"This agreement marks a significant step toward establishing Fuerteventura as a hub of technological innovation and economic diversification."