SENNA

Spanish SMEs with European Seal of Excellence Receive €22 Million in Funding

In a move to bolster innovation, the Spanish government's Center for Technological and Industrial Development (CDTI) has awarded €22 million in grants to 11 Spanish SMEs that previously obtained the prestigious European Seal of Excellence.

The funding, co-financed by the European Regional Development Fund (ERDF), is a strategic public policy initiative that allows Spain to capitalize on the European recognition of these projects. All 11 ventures were evaluated and deemed excellent by the European Commission through the highly competitive EIC Accelerator program under Horizon Europe.

"This initiative prevents proposals with immense potential from going unfunded due to a lack of EU budget, while reinforcing the international positioning of innovative Spanish companies," said a CDTI spokesperson.

The EIC Accelerator aims to support transformative SMEs and startups, helping them scale up and reach the market through a combination of grants and equity investment. The Seal of Excellence is a mark of distinction awarded by the Commission to applications that narrowly miss out on funding but are still deemed exceptional.

The €22 million in grants, representing 69% of a total €32 million budget, will support projects with a maximum duration of 4 years and an average length of around 25 months. This provides a crucial lifeline for Spanish innovators, ensuring their groundbreaking technologies can be commercialized.

"Rewarding excellence and accelerating time-to-market are the key objectives here," noted the CDTI official. "We want to leverage Europe's recognition of these proposals to drive direct investment in domestic innovation."

The funding comes at a critical juncture, as Spain seeks to bolster its position as a hub for technological advancement. Industry analysts say the move aligns with broader efforts to capitalize on the country's entrepreneurial ecosystem and cement its status as a rising force in European innovation.

"This program demonstrates Spain's commitment to nurturing its most promising ventures and giving them the resources to succeed on the global stage," said Maria Hernandez, a senior research analyst covering the European tech sector. "It's a savvy strategy to convert EU-level validation into tangible support for home-grown innovators."

With the additional capital injection, the 11 Spanish SMEs are now poised to accelerate product development, scale operations, and expand their footprint - further strengthening Spain's innovation credentials within the European Union.