• Novara Capital Group

Tenerife, an innovation center in the Canary Islands

If we take a look at how the Canary Islands are trying to improve the Innovation, we have to talk about InTech Tenerife.


INtech Tenerife is an organization created in 2006, which aim is to help to diversify the economy of Tenerife by developing the Innovation Culture as the axis of competitiveness improvement. INtech promotes technological and innovative entrepreneurship, startups, and research.



The vision is to make INtech Tenerife a Global Technology Hub and, a worldwide reference in technology, research, and innovation, where dreams and projects can grow.


Their main objectives are:


Create innovative spaces that encourage cooperation, knowledge exchange and technologies between research institutes and companies.Foster technology transfer, new technologies development, and industrial promotion in Tenerife. Create activities that stimulate the creation and successful development of innovative and technology-based companies.Find investment to promote Innovation, research, knowledge and technology.


Spaces to stimulate Innovation:


INnovaparq Recinto Ferial: Rent Offices for business and entrepreneurs located in Tenerife.


INnovaparq ULL: Offices located at Universidad Laguna (Laguna University) for students, research, technology-based and scientific companies related to the university, students, and teachers.


INfactory Darsena: 3 floors building with offices in rent for 2 or 3 years. It focuses on entrepreneurs and recently created companies that have potential application to the maritime and port sector and, have to be innovative, technological or knowledge-intensive.


Coworking Darcena: Collaborative spaces for entrepreneurs.


IACTEC La Laguna: It is a technological center linked to the Instituto de Astrofísica de las Islas Canarias (Institute of Astrophysics of the Canary Islands-IAC), which leases workspaces for activities related to astrophysics, space and scientific instrumentation for sectors such as medicine, safety, and the environment.


Nanotec Technology Center La Laguna: Scientific and technological center with three modules: "Nanomac", for R&D&I activities related to nanotechnology, advanced materials, energy and water; "Sustains", destined to R + D + i activities in sustainability, environment and climate change; and a third module of spaces for the promotion of synergies between knowledge and R & D.


Under Construction:


High-Tech Incubator La Laguna: for Astrophysics and Space, and coworking space. Specialized for Astrophysics and Space, and it also will work as a coworking space. Financed by the Cabildo de Tenerife for 3 million euros and will be completed in 2021.


INtech Tenerife: Rent Offices for business and entrepreneurs. Its construction is in Phase 1 of Santa Cruz project.


Multi-companies building: Phase II for the Santa Cruz Project and consists of the multi-company building, and intended for the installation of large companies, multinationals, etc.


INtech Granadilla: In this spot is the Instituto Tecnológico de Energías Renovables de Tenerife(Technological Institute of Renewable Energies of Tenerife-ITER), and in the same space, there will be an INTech building planned as a Scientific and Technological Hub, which is currently under the projection phase. It will be directed to Renewable Energies, Environment, Earth and Cosmos.


INtech has different projects to support entrepreneurs and start-ups. Its most famous program is Tenerife Invierte, whose main objective is to identify different innovative business projects, help them develop with specialized mentoring and subsequently, obtain financing.


They also have programs that help develop new projects, from the prototype stage to a development phase: WomenIN and Innovation Fast Track. They are the organizers of TLP Weekend Tenerife an event specialized in video games. For this sector and audiovisuals has the Anímate program which aims is to train and educate for animation, 3D and Video games, also encourage creativity and include all the equipment needed.

Among its innovation projects are:


Imagine 7 Islands is an innovative program to generate disruptive ideas in the tourism sector for the 7 Canary Islands.


Fi2 Futurismo, a day with two sessions in which there are People Talks, Workshops, diverse Minitalks and round-tables that work under the Pitch dating technique.

Innovation School for child and youth population of Tenerife, a competency-based learning program complementary to formal education and, in close cooperation with the educational institutions of the island.


As we can see, there is a big effort from the Canary Islands to foster the entrepreneurship and the Innovation. If you are seeking a new place where you want to create a company, this is the right place. Nevertheless, if you are doubting about where to set-up a subsidiary or re-locate your business, the islands offer the best for you, from Innovation, R&D, audiovisuals, etc. With the Tax Incentives, you can maximize your profits.


We can also highlight the quality of life, weather and talented people that make the Island the perfect destination for your project.


Our consultants will be glad to talk with you and guide you through the process.


Information extracted from:

https://www.intechtenerife.es

Novara Capital Group is an international tax & capital investment consulting firm. We specialise in Corporate Structuring, European Union Tax Incentives, IP Positioning, and Transactions / M&A. We provide intelligent corporate structures, advice, and an integrated service which cross delivers in businesses. We advise companies globally to accelerate international growth, optimise net profits, and enhance equity value leveraging Intellectual Property and Licences. Our in-house experts specialise in International Tax Law, Company Law & Cross Border Jurisdiction, Investment & Asset Management, Mergers & Acquisitions, and Operational Management.


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