Spain Tourism Ministry opens application for Emprendetur for innovative tourism project financing

Published on : Monday, June 27, 2016

Spain Tourism MinistryThe Ministry of Industry, Energy and Tourism has launched the sixth edition of the credit line Emprendetur, endowed with EUR 45 million to finance projects of companies introducing innovation in the tourism sector.

 
Interested companies can apply for this sixth edition of Emprendetur R & D + i, which will be open until 14 July.

 
This measure is intended to facilitate the development of innovative business models to improve the competitiveness and profitability of the Spanish tourism sector and encourage the incorporation of young business entrepreneurs.

 
Emprendetur is part of a series of actions to stimulate the innovative capacity within the Spanish tourism industry.

 
The objective of this funding is to support research, development and innovation applied to products and services in the tourism sector. The R & D program consists of two lines: Emprendetur development of innovative products, endowed with 35 million and Emprendetur R & D, with 10 million euros.

 
The loans will finance the implementation of projects or actions for a maximum deadline of two years.

 
The loans from R & D + i have 5-year repayment period, a maximum grace period of two years, a fixed rate of 0.698%, a maximum funding of up to 75% of eligible project costs, with a limit of 1 million euros.

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