The purpose of the grants is to face the challenges of the Madrid economy, including: increasing and maintaining high-quality and high-quality employment.

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Lines of action of aid for the development of young innovative technology-based companies

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Three different lines of action are established depending on their purpose, which are defined in:

• Start of startup activity up to 1 year old.
• Consolidation of young innovative technology-based companies that are more than 1 year old and up to 5 years old.
• Growth and increased productivity of innovative SMEs, more than 5 years old.

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Type of funding

Grants will be granted in the form of grants, on a competitive basis.

Beneficiaries of aid for the development of young innovative technology-based companies

Depending on the line of aid, the beneficiary entities will be:

• Line 1: New innovative technology-based SMEs up to 1 year old, who must be in the category of small business at the time of filing the application.
• Line 2: Young innovative technology-based SMEs between 1 and 5 years old, who must be in the category of small business at the time of filing the application.
• Line 3: Innovative SMEs who are more than 5 years old, who must be in the category of small or medium-sized enterprises at the time of filing the application.

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Deadlines for the execution of projects

Depending on the line, the maximum deadlines for the execution of the projects will be:

• Line 1: up to 12 months
• ‍Line 2: up to 24 months
• ‍Line 3: to 24 months

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Requirements for aid for the development of young innovative technology-based companies

• Have the category of small or medium-sized business, depending on the line of aid to be applied for. -To be an innovative company.
• Have at least one workplace in the Community of Madrid.
• Grants must have an incentive effect, so projects initiated prior to the granting of aid will not be eligible.

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In addition, to be beneficiaries of aid, companies must justify some eligible expenses greater than 30,000€ (line 1), 75,000€ (line 2) or 200,000€ (line 3), as appropriate.

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Types of eligible projects

• ‍Technical feasibility studies prior to industrial research or experimental development activities.
• Projects of industrial research‍
• Projects of experimental development

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Eligible activities

• Line 1:2-year business plan, the business viability plan, the technological development plan, business and market development advisory and consulting studies (market test) and other technical reports, among others.
• Line 2:3-year business plan that enables the development of new products, services or processes for introduction to the market, the technological development plan, the planning for the incorporation of technical knowledge, among others.
• Line 3: Associated expenses of technical feasibility studies, industrial research projects and experimental development projects, among others.

Financiable expenses

• Personnel costs. -Costs of instruments and materials, to the extent and during the period in which they are used for the project.
• Costs of contractual research and development, technical knowledge and patents acquired or obtained.
• Consulting and support expenses for innovation and business development.
• Other external services such as technical assistance, legal, economic and financial consulting, etc.
• Reports, certifications and audits carried out by auditors or experts to the extent required by these regulatory bases.
• Other operating expenses, directly derived from the project.

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Criteria for evaluating applications

During the evaluation phase, the projects submitted may obtain a maximum score of 100 points, based on the following criteria:

• Criteria Scientific-technical quality and innovation of the projects: 0-45 points.
• Criteria Economic viability and profitability of the company's Business Plan, technological opportunity and market viability of the project, and the company's scientific-technical capacity: 0-45 points.
• Criteria Collaboration and cooperation with research and knowledge dissemination organizations, socio-economic and environmental impact and project coherence: 0-10 points.

Required Documentation

Along with the request for aid, companies must attach, among others:

• La general descriptive report of the project, which includes the technical, scientific and innovation, and economic-financial aspects of the same. In this report, a budget for the project and the business and commercial operation plan of the project must also be included.
• Presentation of supplier budgets or pro forma invoices for the expenses to be incurred in carrying out the project.

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Deadline for submitting applications:

Interested companies must submit applications electronically, within a maximum period of 15 business days from the publication of the call in the Official Gazette of the Community of Madrid.

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‍From Intelectium, we are experts in applying for and managing public funding. We help you assess your startup's eligibility for the call. Once analyzed, we prepare a detailed report through which we can request and manage the help. We operate under a completely success-oriented model, in which we don't charge initial set up fees to start working, but we are at risk and only get paid if we get funding for the company. Get in touch with us hither for expert advice.