Promoting the expansion of the business network is one of the key objectives for boosting the economic development of Galicia. With the intention of making possible the materialisation of innovative projects in our territory that contribute to this end, the Xunta de Galicia provides Galician companies with different resources and tools, such as the Galicia Innova Tech Fund.

What is the Galicia Innova Tech Fund?

With a capital of 24 million euros, Galicia Innova Tech leads the financing of technology-based projects in our community. It is one of the venture capital funds managed by XesGalicia, in which the Galician Institute for Economic Promotion (Igape) and the Galician Innovation Agency (Gain) participate. It is a fund aimed at innovative business projects, especially those resulting from the valorization of the knowledge generated by the different agents of the Galician R&D&I system.

Among the projects financed by the fund are more than a dozen companies, some of them spin-offs of Galician universities, in sectors as diverse as biotechnology, nanotechnology, deep-tech or aeronautics.

Two of the companies recently financed by the fund are Libera Bio and Celtarys Research:

• Libera Bio focuses its activity on the development of personalized cancer treatments based on a new nanotechnology, known as MPN Technology, which allows the selective delivery of biological drugs (such as monoclonal antibodies) to tumors and metastatic cells.
• Celtarys Research focuses its activity on the development of fluorescent tools for the discovery of new drugs, using proprietary technology.

In addition to direct investment in companies, and with the aim of further boosting the entrepreneurial ecosystem through collaboration with the private sector, the fund has agreements with several of the main private fund managers nationwide. Thanks to these agreements, it is possible to increase the possibilities of access to financing for Galician companies with an innovative base.

What are the requirements for companies that apply?

• They must be business projects with a marked innovative character.
• Preferably initiatives that have their origin in the Galician R&D&I system.
• The management team of the applying company must have proven management skills.

How does it work?

The fund works in the same way as any other venture capital fund on the market. The fund's management company, XesGalicia, will analyze the project and, if approved, will proceed to finance the projects through temporary and minority stakes in the companies' capital stock.

How to apply?

If you think that the Galicia Innova Tech, FICC fund is for you, submit your project by filling out the form on the XesGalicia website. This is a permanent line, so you can apply at any time.