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The minister visited the business incubator of the Málaga Tech Park, in which the Junta de Andalucía has a 40% shareholding and where more than 520 companies creating technologies such as augmented reality, artificial intelligence, Big Data or cybersecurity have been consolidated
The Regional Minister of Economy, Finance and European Funds, Carolina España, highlights the work of the BIC Euronova business incubator as an example of ‘the creation of consolidated companies and, therefore, of employment.’ The Minister visited today the Business and Innovation Centre, 40% owned by the Junta de Andalucía, which since its creation has given birth to more than 520 companies in the innovation sector, which have created a total of 5,250 jobs specialised in technologies such as Augmented Reality, Artificial Intelligence, autonomous vehicles, Big Data, data mining, cybersecurity, new materials and aerospace photovoltaics.
Carolina España stressed that this type of initiative is ‘an example of how to help companies to be born and forged, which is essential to create a solid business structure in the innovation sector, as well as a sign that collaboration between institutions and between the public and private sectors is once again bearing fruit.’ BIC Euronova is 40% owned by the Ministry of Economy, Finance and European Funds of the Andalusian Regional Government through the IDEA Agency (integrated into TRADE), 40% by the Málaga City Council (Promálaga), and 20% by Unicaja Banco.
The Minister, who visited the company located in BIC Ubora Solar, recalled that BIC Euronova has produced companies such as INGENIA (a global company providing digital solutions), AERTEC (aerospace technology), HISPASEC (computer security) and DHV (which manufactures solar panels for space applications). ‘25% of the companies currently operating in the Andalusia Technology Park Málaga Tech Park originated in the BIC Euronova incubator and, currently, 20% of the incubated companies are foreign, the highest ratio in the Andalusian region,’ said the minister. UK, Netherlands, USA, Norway and Sweden are the main destination countries for these companies formed at BIC, with a survival rate of 79%.
Many of the start-ups that have emerged at BIC Euronova are now consolidated companies with high penetration in international markets. The centre, which is located in the PTA, was a pioneer in Málaga and was born under the initiative of the European Union to create platforms to promote research and development of technological innovation companies. ‘It is, therefore, a large part of the reason why Málaga is what it is today in terms of technology and innovation companies,’ the minister insisted.
‘The Andalusian Regional Government is convinced that supporting this type of initiative and promoting its ecosystem for investment and business development in innovation and research is fundamental. For this reason, I would like to highlight the efforts being made by this ministry to provide innovative companies with all possible tools to finance them,’ he said, referring to the launch of a new financial instrument worth EUR 100 million on which the Junta is currently working and which will come into operation in the coming months for R&D&I and managed by the European Investment Bank (EIB) under the new European funding framework 2021-2027.
In addition, the Regional Government currently has three venture capital funds available to the Andalusian productive fabric. These three funds have a total amount of 51.35 million euros, of which 37 million are public contributions, and are aimed at supporting start-ups and promoting the expansion of our companies. These funds are designed for operations in strategic areas for Andalusia, such as the ICT sector, artificial intelligence, tourism and the aerospace sector, among others, so I encourage the companies incubated in this BIC to take advantage of these measures, which are an important boost for the sector.