This is one of the findings of the report prepared by ABAY Analistas for Kaudal on this financing mechanism.
Madrid, November 25, 2022. Kaudal, a company specialized in the financing of the R&D&I ecosystem through private investment, has published in this report the results of the study on the Socioeconomic Impact of Technological Patronage, prepared by the consultancy firm ABAY Analistas. The purpose of the study was to measure the effects that the use of this instrument has had on innovative Spanish companies, mainly SMEs and startups, as well as its impact on the R&D&I ecosystem and on the economy.
Technological Patronage is a means of financing based on tax incentives applicable to research, development and innovation, which allows new private investment to be channeled into said ecosystem.
“It is important for us to establish whether we are meeting the goals we have set for ourselves to foster the R&D ecosystem and its innovative companies through technological patronage. It is an instrument that is proving to be very effective for the development of R&D&I activities and that contributes to solving the financing problems faced by these projects in Spain. We believe that we must continue working towards strengthening effective and agile financing channels that allow us to tap the full potential and innovative capacity that we have in Spain”, stated Manuel García-Sañudo, CEO of Kaudal, during the presentation of the report.
The study highlights the maturity of the instrument and its effectiveness in meeting the R&D&I stimulus objectives for which it was designed and developed by the regulations in 2014. As stated in the published report, Technological Patronage has helped the companies that have used it to increase employment dedicated to R&D&I by 52%, as well as to increase spending on innovation by 108%.
As for the profile of the participating companies, SMEs or startups, 35% belong to the field of Health Technologies, 17% are involved in Artificial Intelligence, 12% in Advanced and Safe Food, 12% in Advanced Materials, 6% in Energy Technologies and 4% in Intelligent Transportation. This confirms the transversality of the instrument in all the sectors that are at the forefront of innovation.
87% of the companies surveyed consider that Technological Patronage has allowed them to attain results that they could not have achieved without resorting to this means of private financing.
In the Spanish environment, where private investment in innovative companies lags far behind that enjoyed by the leading countries in technology, R&D promotion instruments are necessary to boost activity. In addition to promoting projects that generate a clear economic value and social impact, they foster technology transfer to products and services designed to solve the problems of our society, driving their development.
In this regard, and according to data from the report, the participating companies conclude that the Technological Patronage instrument has allowed them to create a total of 3 spin-offs, 11 new science or technology-based companies or ventures, 106 new highly qualified jobs, of which 34% have doctoral degrees, 67% have university degrees, 37% are young people under 30 years of age and 64% are women.
About ABAY Analistas:
ABAY Analistas is a consulting firm specialized in economic and social analysis, which responds to the knowledge needs of public administrations, non-profit organizations and companies.
The professionals that comprise ABAY Analistas have a solid background in consulting on economic, labor and social issues. They have extensive experience in research and technical assistance projects related to the evaluation of public policies, projects and organizations, labor market, sector-specific analysis, SMEs, technological innovation, social issues and gender, which they provide to different public and private institutions at international, European and national levels.