The Renove Smart Industry Program promotes the modernization of Basque Industrial SMEs with 7 million euros

Support for the Basque industry will undoubtedly improve its competitiveness and internationalization

On May 23, the deadline will open for Basque industrial small and medium-sized companies (SMEs) to apply for aid from the Renove Smart Industry program, previously known as Renove Industry 4.0.

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With a budget of 7 million euros, this program will finance investments in advanced machinery and technological equipment to facilitate the transition towards Industry 4.0. Applications can be submitted until November 8.

 

El SPRI Group has called this new edition of the program to promote the modernization of SMEs and related services interested in the implementation of Industry 4.0 projects. According to SPRI Group officials, "We promote projects aimed at applying the potential of technology in the field of Smart Industry."

 

The program offers financing of 20% of the investment in machinery or equipment, including consulting and engineering expenses, with a maximum of 75.000 euros per company. Companies that are part of the program will receive a 50% advance once their application is approved, thus facilitating investment without resorting to other sources of financing.

 

The SPRI Group continues its support for industrial modernization in the Basque Country, facilitating access to advanced technologies 

 

Since its inception in 2014, Renove Smart Industry has supported more than 1.852 projects with a total investment of 75 million eurosgenerating €696 million in induced investments in the Basque business sector. According to the SPRI Group, "More than 1.800 projects have been supported since 2014, with a grant of €25 million in 2023 to help Basque industry meet the new challenges of Smart Industry."

 

In this legislative term, more than 500 procurement projects have been financed, with a total investment of €140 million and €25 million in public subsidies. "Public investment has allowed us to the Basque industry remains at the forefront"The program managers emphasized this point."

 

The technologies that the Renove Smart Industry program seeks to advance include advanced manufacturing, 3D printing, collaborative robotics, the industrial Internet of Things, artificial intelligence, cyber-physical systems, virtual and augmented reality, and digital twins . These technologies allow companies to be more competitive, efficient and innovative in the global market.

 

With this program, the SPRI Group continues its support for industrial modernization in Euskadi, facilitating access to advanced technologies and promoting the digital transformation of companies. Basque SMEs"Efficiency will allow you to save costs and make more effective use of resources," concluded the SPRI Group, urging companies not to miss this opportunity.