The financing is to support different technological sectors, the training of young people, and the promotion of small companies.

Last May 5th, the government of Spain approved the necessary budget to finance technological projects of different sectors. According to sources linked to government authorities, the main objective is to develop digital solutions that boost the technology industry in the country.

The financing measure includes a budget of 70 million euros, which will seek to boost various projects that include the development of technologies such as blockchain and other related platforms.

According to the recognized local media El Mundo, the government launched the proposal to support new companies and young scientists. This is the way that the Spanish government implements to accelerate digitization in Spain.

Besides, the Ministry of Economic Affairs and Digital Transformation of Spain hopes that this initiative help reduces the impact that the Coronavirus pandemic generated on the different aspects of citizens’ daily lives.

The financing also responds to a recognized program to boost small sectors called AceleraPyme. In this way, the ministry seeks to directly support technological development with a total of 35 million euros for companies linked to the program. This response to half of the budget. These different sectors will administer the budget directly.

Although an important part of the budget is aimed at the development of blockchain solutions, the program covers a large number of areas in technological development such as Cybersecurity, Internet of Things (IoT), Robotics, Nanotechnology, Digital Identity, Virtual Reality, inter alia.

Another important aspect is that the program includes a training system aimed at young people outside the conventional educational sector. For this reason, the Ministry of Economic Affairs and Digital Transformation will allocate 20 million Euros to educate young people in areas such as Big Data, Video Game Development, 3D Design, Programming, among others.

Lastly, the government will allocate 15 million Euros to the sector in charge of developing digital content such as music, animation, audiovisual programs, social networks, and the creation of new digital content. The program also includes the creation of mobile applications, among others.

No Date to Start

Although it is still unknown how the selection process will be to receive financial support, the community expects that the call takes place soon through the web, using the address of Said web site will also be responsible for managing the contribution to those selected. This web platform is a public entity that is in charge of “digital convergence with Europe to improve public services and develop the digital economy”.

The government has not provided further details about how the process will be like. It has also not set a limit to receive the projects that would receive financing. However, the government clarified that it will properly separate the areas to have better control of the contributions.

It is not the first time that the Spanish government offers a financial contribution to the development of blockchain technology. In April 2019, the Ministry of Economy and Business of Spain approved a budget of 9 million Euros to support technological areas such as Robotics, Artificial Intelligence (AI), and blockchain technology. This contribution could continue.

By María Rodríguez


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