IVACE (Valencian Institute of Business Competitiveness) has published the Createc CV line of grants aimed at small innovative technology-based companies.
The grant, in grant format, will be open from January 12, 2021 to February 04, 2021.
What does the IVACE Createc CV grant line fund?
The innovative technology-based enterprise of the Valencian Community. Createc CV seeks to finance small innovative and technology-based companies that have a headquarters or production facility located in the Valencian Community.
The aid has two tranches and intensities:
For companies up to 3 years old, Createc CV grants between 30,000 and 175,000 euros of grant. For companies older than 3 years and less than 5 years, Createc CV grants between 30,000 and 300,000 euros in grants.
Which companies can be beneficiaries?
Innovative companies that meet at least one of the following requirements: A) To be able to demonstrate, through an evaluation carried out by an external expert and provided together with the request for aid, that new and/or substantially improved products, services or processes will be developed in comparison with the state of the art of technology in their sector and that entail an implicit technological or industrial risk. B) Have R&D (Research and Development) costs that represent a minimum of 10% of the total of their operating costs for at least one of the three years provided for the granting of the aid. In the event that the request is being processed by a new company with no financial history, these thresholds are met according to the audit of the current fiscal year. Technology-based companies (EBT): Those companies whose main activity consists of any of the following characteristics:A) This is an activity focused on the exploitation of products or services that require the use of technologies or knowledge obtained from the research activity of the beneficiary company or other companies or organizations of research that the technology has been given to him. The business strategy of the beneficiary company must always contemplate the development and evolution of the technologies and knowledge mentioned above, proving that it has the necessary technical and human capacity to carry it out. B) Business activity and strategy based on the intensive domain of scientific and technical knowledge as a competitive factor that enables the development of new products, services or processes for introduction to the market, excluding R&D consulting for third parties.
Characteristics of projects eligible for Createc CV
Projects must start after the date of submission of the application for aid. Therefore, they must be future projects that the company wants to develop. The results of the projects must have a tangible and measurable impact on the Community of Valencia. Eligible investments must remain unchanged for five years following the payment of the grant. All this will support the development of R&D projects of the applicant company, both intangible investments and capital assets related to projects of that nature.
Type of aid
In-fund grant requested of up to 70% of the project budget. An advance of up to 90% of the grant awarded may be requested. This will require the creation of a guarantee of 15% of the advance amount, which must be deposited with the offices of the Valencian Tax Agency AVT in Alicante, Castellón or Valencia. Source: IVACE
