A few weeks ago, the Ministry of Economic Affairs and Digital Transformation and the Ministry of Culture and Sports launched a line of financing of 7.5 million euros. The entity responsible for managing said annual figure is ENISA, dependent on the Ministry of Industry, Commerce and Tourism.
The institutions thus respond to the Executive’s strategy to promote the Spain plan Audiovisual Hub of Europe. “Small and medium-sized companies in the audiovisual sector, as well as cultural and creative industries, constitute a strategic sector of the national economy. These resources will help boost the growth of this industry throughout the value chain”as highlighted by the Secretary of State for Telecommunications and Digital Infrastructures, Maria Gonzalez Veracruz.
For his part, Víctor Francos, Secretary General of Culture and Sport adds that the generation of employment in a sector
like that of culture with high potential, strategic and intensive in human capital, is essential. That’s why,
We have paid special attention to those cultural and creative companies with the capacity to generate quality employment, which have their registered office in Spain, which undertake the necessary investments and carry out their business project, basing its activity on the generation of new products, processes or services”.
Jose BayonCEO of ENISA highlights that “This new line of financing aims to channel all the innovative potential
of culture, audiovisual creations, as well as videogames, betting on support startups and SMEs, contributing to their transition towards the digital market, to their sustainability in the territory and to the improvement of their competitiveness at an international level”.
Some loans without endorsement or guarantee
Thus, ENISA will receive for the financial year 2023 a maximum amount of 7,500,000 euros in two loans. One from the Ministry of Economic Affairs and Digital Transformation of 2,500,000 euros in charge of its budget, and another of 5,000,000 euros from the Ministry of Culture and Sports. These are its main features:
- Their financing has an amount between 25,000 and 1,500,000 euros, as well as a maximum repayment period of 10 years.
- In addition, the ENISA Audiovisual and Cultural and Creative Industries line does not need guarantees and does not dilute the capital of the companies financed, as in the rest of the loan lines provided by the National Innovation Company.
- Enough business projects technically and economically viableas well as having an innovative, novel business model or with clear competitive advantages.
- Those who want to opt for this new line must have their registered office in Spain, undertake the necessary investments and carry out their business project, basing their activity on the generation of new products, processes or services.
