Andalusia launches a new €9,8 million fund to boost the growth of local startups

Through the Andalucía TRADE agency, the Andalusian Government will mobilize a new generation of venture capital funds totaling 58,8 million in public resources, with the firm objective of retaining technological talent, supporting innovative projects and attracting nearly 150 million in private investment to the region.

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The Andalusian Regional Government will establish a new venture capital fund in the coming weeks, endowed with 9,8 millones de eurosThis financial instrument is co-financed with European funds. SPRING, will be exclusively focused on supporting startups Andalusian, allowing financial support for operations with contributions of up to 400.000 euros per company.

The announcement was made by the acting Minister of Economy, Finance, European Funds and Social Dialogue, Caroline Spain, during the opening session of the 13th edition of the investor forum Alhambra Venture held in Granada. This mechanism is part of the agency's strategy. Andalucía TRADE, whose structural purpose is to mitigate the financing difficulties that innovative companies suffer during the most critical phases of their development.

"This is about responding to one of the main challenges of the innovation ecosystem: facilitating the development of startups and technology companies in Andalusia and enabling them to become solid companies capable of competing in national and international markets," the councilor explained during her speech.

This new vehicle for startups Two additional venture capital funds, earmarked for business projects in their expansion phase, have just been formalized by the regional government. Together, they represent a public injection of 49 millones de euros (also with support) SPRING) and will enable capital injections or participating loans of up to 2,5 million euros per project.

Taken together, this new financial architecture will mobilize 58,8 million euros in public resources, which represents an increase in 62 % compared to the previous generation of instruments issued by the Board. According to the Executive's forecasts, this volume will allow for the closing of around 60 investment operations, with a multiplier effect that will pull in approximately 150 million euros total investment in partnership with the private sector.

Talent retention and new strategic tools

The Andalusian government emphasizes the need to create an ecosystem conducive to corporate growth. "We want companies that are founded here to not have to leave to grow, but rather to see Andalusia as the place where they can thrive because they have access to funding, support, and a favorable environment to develop their full potential," Carolina España stressed. Along the same lines, she underscored a clear principle for the region: "The Andalusian government's objective is very simple: that no innovative project with growth potential should be stalled due to a lack of funding."

In addition to the funds SPRINGThe Andalusian administration is outlining the design of the future FAST FundThis vehicle will be equipped with 30 millones de euros funded by its own resources, it will directly target projects in sectors vital to the continent's autonomy and competitiveness, such as the microelectronics, photonics, advanced computing, clean energy, and defense-related technologiesOne of its main new features is that it can be requested by companies that exceed the SME categorization.

The weight of Andalucía TRADE in the productive fabric

As the main driver of this growth, Andalucía TRADE It currently manages more than 600 business projects – including approved and pending incentives – that mobilize investments exceeding 360 millones de eurosIn the province of Granada alone, the host city of Alhambra Venture, the agency has so far approved support for 87 projects worth 20,7 million euros, committing total investments exceeding 51 million.

These lines of direct support to the business sector are complemented by the reform agenda of recent years promoted by the administration of Juanma Moreno, which has involved the simplification of more than 850 bureaucratic procedures and the approval of seven tax cuts aimed at positioning Andalusia as a region of high corporate competitiveness.