The archipelago has great opportunities to fully subsidize business projects, but continues to miss out on key resources. In a context in which Europe and Spain are committed to productive, digital and green transformation, the Canary Islands are facing an exceptional scenario to attract investment, consolidate the business fabric and diversify its economy. However, according to Miguel Angel Ortega, founding partner of the consulting firm AF Innovación Canaria, "the important regional, state and European funds" available for the business fabric of the archipelago "are not being used as they should be".
Ortega, with more than 30 years of experience in business aid, stresses that the key is to know how to properly combine the different types of support: non-refundable subsidies, tax incentives, preferential public financing and specific programs by sectors. All this would make it possible to subsidize up to 100% of many investment projects in the Canary Islands, from the creation of new companies to the modernization of consolidated industries.
According to data from the Ministry of Science, Innovation and Universities, Canary Islands projects submitted to R&D&I programs have grown by 61% in the last year. This represents an important step, but it is still insufficient in view of the real potential of the territory. Ortega stresses that there are still many underutilized lines and that a good part of the companies are unaware of the existence of these resources or do not have the appropriate support to process them.
One of the problems, the expert points out, is that many initiatives are left out because they do not technically comply with the requirements of each call or because they do not plan the investment strategically from the beginning, including the aid as part of the business model. "The world of grants is an art," says Ortega. It's not just a matter of having a good business idea, but of knowing how to translate that idea into the technical and administrative language of each grant program. To achieve this, it is necessary to rely on professionals who have a thorough knowledge of the incentive ecosystem and master the timing, requirements and compatibilities between programs.
Ortega also insists on an essential point: funds can be deposited in a period of just three months and be available before the start of the investment. This refutes the belief that aid always arrives late or involves excessive bureaucracy. What is essential is preparation, proper documentation and a well-designed strategy.
Ortega's vision sets out a clear roadmap: to bet on a "smart investment" approach in key sectors such as biotechnology, downstream industry, circular economy, energy transition or digital development, among others. To do this, administrations must more actively promote these opportunities, but also companies must assume a cultural change: to see subsidies not as a one-off aid, but as a structural tool for growth and competitiveness.
The Canary Islands, with its geostrategic location, its international connectivity and its fiscal uniqueness, has everything in its favor to become a pole of business attraction. But to achieve this, it is essential to make the most of every euro available in public aid. As Ortega concludes, "the important thing is not the amount of funds, but the capacity to manage them with strategic vision".
–IV Conference on the Financing of Innovation in the Canary Islands. Information published on the Grupo Prensa Ibérica website on 21 May 2025:
–The Canary Islands 'take off' as a global hub for investment in R&D&I. Article published by "La Provincia. Diario de Las Palmas", dated 21 April 2024:
–The Canary Islands strive to be the fastest-growing Spanish region in terms of innovation. Article published by "La Provincia. Diario de Las Palmas", dated 21 May 2025:
https://www.laprovincia.es/economia/2025/05/21/canarias-pugna-region-espanola-crece-117668516.html
–Miguel Ángel Ortega's LinkedIn profile:
https://www.linkedin.com/in/miguel-angel-ortega-chocomeli-34424b37/?originalSubdomain=es
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| Objective: to subsidize 100% of each business investment project. Interview with Miguel Ángel Ortega, managing partner of AF Innovación Canarias, published by El Día, dated May 25, 2025. |








































































