Spain Science Innovation Tender

The Minister of Science and Innovation Diana Morant has presented the new Technology Transfer program of Innvierte a venture capital company that seeks to stimulate investment in Spanish technology and innovative companies.Within this program the CDTI -organism attached to the Ministry of Science and Innovation and the sole shareholder and promoter of Innvierte- commits 120 million euros to three venture capital funds specialized in technology transfer. Specifically it will co-invest up to 40 million euros in each fund.During the presentation ceremony of the new Innvierte program held in Barcelona the Minister of Science and Innovation explained that these funds will allow the creation from scratch of technological and innovative companies based on the knowledge generated in our universities and research centers .Innvierte is one of the programs with which we promote and facilitate private investment in RD Morant has detailed who has specified that this program is intended to improve the transfer of knowledge by increasing the availability of venture capital funds for technology-based ventures .The three venture capital funds that will channel the investment of the Ministry of Science and Innovation are those of Beable Capital a manager that is committed to technology with an industrial component Bullnet Gestion which is committed to the transfer of technology in the field of ICT and Clave Mayor which is committed to biosanitary technologies. These three managers have been selected through a call by the CDTI to which a total of 11 proposals were submitted.The three selected funds will be complementary in terms of their scope and investment strategy but they will all be managed by professional teams with experience in the different stages of technology-based ventures identification of technologies and equipment protection of intellectual property development of proofs of concept business development or internationalization process and search for liquidity windows.The joint venture scheme with these management companies implies that in addition to public investment of around 120 million euros it is expected to mobilize a similar volume of private capital and that the funds will thus channel a total of about 240 million euros. During her speech the Minister of Science and Innovation highlighted that Innvierte is intended to advance towards a new culture of public-private collaboration and co-governance which helps technology companies grow by responding to the challenges of the industry and of the society.Likewise Morant explained that through the new funds of the Innvierte Technology Transfer program for the first time in Spain investment vehicles will be launched that operate in pre-seed stages and that together with the programs co-investment action they will favor an adequate value capture to demonstrate that investment models in science are profitable. Innvierte ProgramThe Innvierte program is part of the Spanish Strategy for Science Technology and Innovation 2021-2027 approved by Agreement of the Council of Ministers in September 2020 . This strategy contains the objectives reforms and measures to be adopted in the entire field of R D I in order to promote its growth and impact and is one of the pillars on which the design of the Government policy on R D I for the next few years.Innvierte is implemented through the closed-end collective investment company Innvierte Economa Sostenible SICC SME SA self-managed and subject to the supervision of the National Securities Market Commission. Since it was launched in 2019 this program has committed 147.6 million euros in 96 technology SMEsIn addition Morant stressed during the act that the Ministry is increasing aid to companies through the CDTI which this 2021 has an increase of 50 compared to the 2020 budget which has allowed to expand and introduce improvements in the different programs to promote business innovation including Innvierte . The event was also attended by the Secretary General for Innovation of the Ministry of Science and Innovation Teresa Riesgo and the Director General of the CDTI Javier Ponce who have presented the program to venture capital funds and investors.