SPEGC invests over one million euros in nine innovative SMEs under the INNVERPYME initiative

Innverpyme 1M€

The Economic Promotion Agency of Gran Canaria (SPEGC), an entity run by the Island Council of Gran Canaria, has invested 1,170,000 euros in nine recently incorporated innovative companies under its INNVERPYME financial instrument, which offers equity loans. The investment by SPEGC in these companies will lead to the investment of 2.3 million euros and the creation of 39 jobs.

The INNVERPYME initiative is a financial instrument based on equity loans that is managed by SPEGC using funds provided by the Island Council of Gran Canaria and aimed at technology-focused and innovative SMEs in sectors capable of fostering economic diversification on the island. Those sectors include fields relating to information and communication technology, the maritime-marine sector and digital creativity.

The initiative is engaged in company finance during the seed stage for businesses that are no more than two years old with amounts ranging from 25,000 to 100,000 euros, which can be increased to 150,000 euros for companies in digital creativity sectors. INNVERPYME can also finance SMEs during their growth stage (companies that have been operating for 2-5 years), which can apply for financing of between 50,000 and 200,000 euros.

The priority areas for companies wishing to receive this funding via equity loans are: advanced technology solutions based on information and communication technologies; those tied to the operation of the island’s marine resources; and those related to digital creativity, video games, digital animation and digital production sectors. The financing is also available to companies operating in other fields of business and that contribute to competitiveness for the island and the diversification of its productive structure. Any Spanish or overseas company with a permanent base on the island will be eligible to receive this funding.

This financial instrument exists alongside other actions being promoted by SPEGC to support the creation of new companies or attract new business initiatives to the island, such as the personalised support service for companies, physical installation at its business incubators or access to personalised training programmes under the Gran Canaria Tecnova initiative.


For more information on this financial instrument, please visit: https://www.spegc.org/instrumento-financiero-para-apoyar-el-desarrollo-de-proyectos-de-pymes-tecnologicas-e-innovadoras/