The Valencian Institute of Business Competitiveness (Ivace), dependent on the Department of Innovation, Industry, Commerce and Tourism, has awarded aid worth 10.1 million euros, with the intention of supporting research, technological development and business innovation projects. .

The aid will benefit 250 companies and 71 initiatives, of which 10% are “young and innovative companies”, in line with the priority areas in the Smart Specialization Strategy of the Valencian Community (S3CV).

These aid are part of Ivace’s 2023 Business R&D Plan, which has become “a stable financing framework for small and medium-sized businesses,” as indicated by the Generalitat in a statement.

The Minister of Innovation, Industry, Commerce and Tourism, Nuria Montes, has assured that the aid “contributes to increasing the weight of private investment in I D i of the Community, with measures financed by the European Feder funds that allow companies to start technological risk projects, and that under other conditions, would be more difficult to assume, especially for our SMEs”.

The ‘SME R&D’ and ‘R&D in cooperation’ programs aim to “contribute to the development” and “improve the capabilities” of research and business innovation, in addition to consolidating companies that generate technology.

Within the ‘I D SME’ call, 49 individual projects have been financed, among which 30% apply in areas such as ICT (Information and Communications Technologies) and biotechnology, with an increase in projects linked to traditional sectors.

On the other hand, there are 11 consortia supported by the ‘R&D in cooperation’ program where 22 companies participate – 8 are large companies – of which 70% are from areas such as ICT, green biotechnology and the circular economy.

The Valencian Institute of Business Competitiveness has financed 175 “innovative projects” with nearly 7 million euros for the development of new products, new processes and “innovative solutions” in the fields of Electronics, Computing and Communication Technologies (TEIC). ).

This item will be allocated mainly to companies dedicated to the development of new applications, devices or innovative solutions through the use of TEIC intended to be marketed and applied in the industrial field.

On the other hand, IVACE has detected a significant growth in the number of proposals related to the implementation of eco-efficient production methods or techniques. In this way, companies have planned to invest 18.7 million in developing projects that help reinforce circular economy models.