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The Ministry of Science and Innovation (Micinn) and the Official Credit Institute (ICO) have signed an agreement to finance innovative projects in Spain, which has earmarked more than one thousand million euros to encourage banks to fund this type of operations. Two priority sectors for this new financing will be biotechnology and healthcare and nanoscience and nanotechnology.

Of the actions they have established, which will generate more specific agreements, two are particularly important to these two sectors:

  • Invierte Program (venture capital for innovative companies): ICO will carry out joint investment actions in order to help launch innovative new companies and facilitate stable, long-term participation of private capital. The Center for the Development of Industrial Technology (CDTI) will manage the funds invested.
  • Innocredit Program (support for bank financing of innovative projects): Through this line of credit, ICO will finance innovative projects from companies that aim to restructure their productive model. Micinn, through the CDTI, will grant innovative project status. In order to do this, the projects presented will be subjected to a prior technical analysis. 
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