Sodercan launches two new lines of aid totaling 4 million to promote business R & D and 'starp up'


Iciar Amorrortu, Eva Díaz Tezanos and Marta Domingo GOVERNMENT OF CANTABRIA

The Society for the Development of Cantabria (Sodercan) will launch next week two new aid convocation, amounting to 2 million euros each, directed one of them to support R & D projects in the business field and the other for ‘ starp up ‘and young companies.

These two new calls, already approved by the Board of Directors of this public company and that will be published next week, have been presented this Thursday at a press conference by the Vice President of Cantabria and President of Sodercan, Eva Díaz Tezanos; by the director of this company, Iciar Amorrortu, and by the general director of Universities and Research, Marta Domingo.

The new call for business R & D will finance between 25 and 80 percent of projects with budgets that should be between 50,000 and 200,000 euros and lasting between one and two years.

Through the call, it is intended to contribute to diversify the current business fabric towards new products with high added value; to increase the productivity of companies and to promote the transfer of technology from research organizations and technology centers to companies in the region.

Any active company at the time of submitting the application and which develops industrial research or experimental development projects may benefit from this call.

The aid will be used to subsidize personnel expenses, equipment, exploitation materials and also technical assistance and contractual research.

Applications may be submitted from the day following its publication on the Sodercan website until October 4 of this year.

This call is compatible with other Sodercan help lines for innovation, with the exception of existing ones for the promotion of large R & D projects and for the circular economy, as Amorrortu has pointed out.



The other call, called ‘Start Up capital Cantabria’, will provide convertible participatory loans that may be between 25,000 and 250,000 euros, depending on the stage of each business project, establishing three variants: ‘Seed’; ‘Start’ or ‘Expansion’.

With this new program, which had

With this new program, which had

the venture capital sector in Cantabria is to be strengthened by providing capital and financing to start-up or early-stage companies, since it is considered to have a “key role in promoting technologically advanced new companies” and at the time of ” revitalize “the productive fabric of the community.

It is sought that in Cantabria not miss “any entrepreneurial initiative” and “no opportunity is squandered to create wealth or employment.”

The ‘Seed’ variant is aimed at financing projects in a phase prior to mass production (research, development or design phase), in which loans of between 25,000 and 50,000 euros will be granted; the so-called “Start-up”, with contributions of between 50,001 and 150,000, is designed for those in a phase that goes from the first commercialization of the product or service until it reaches a point of equilibrium), and that of ‘Expansion’ is for those that are already in the growth phase or, even, already generating benefits.

In this case, the amounts of the loans can range from 150,001 euros to 250,000. In this modality, a takeover of shares has been established in which Sodercan will not contribute more capital than the entrepreneurial team or more than 45% of the project’s budget.

This new aid program is compatible with other Sodercan lines aimed at promoting entrepreneurship.


Díaz Tezanos explained that these two new calls come to complement other calls of Sodercan this year to help innovation and entrepreneurship development that are already underway, worth 3.3 million and 1.3 respectively, most of which are still open. Now adding these two developments, the aid in both lines will reach 8.6 million euros.

In his opinion, these new lines “reinforces” the commitment of the Government of Cantabria and Sodercan with the support of the Cantabrian business sector to make it more competitive and better positioned in the market.



Also the vice president has referred to another program: the one aimed at supporting women entrepreneurs, the so-called PAEM, which is a collaboration between Sodercan and the Santander Chamber of Commerce, co-financed by the European Social Fund.

This program aims to promote self-employment and women’s business activity, especially through business advice and guidance; support for women’s entrepreneurship processes or inform them about financing formulas.


Headquarters of banks Caixabank and Sabadell AGENCIES


Caixabank y Sabadell


The clients of the banks that are based in Catalonia are worried about the effects of a declaration of independence in their credits and deposits.

What happens to the money I have in those banks?
It is the million dollar question and the reason why many customers of CaixaBank and Sabadell are closing accounts in figures that are not being detailed by these two entities. “The leakage of deposits is taking place, although not at alarming levels,” Javier Flores, analyst at Asinver, explained 20 minutes ago.

Are my funds safe?
It depends on whether the real independence of Catalonia is carried out or not. There are two cases. One, that of the accounts opened in Catalonia of any entity, not only Catalan: a corralito decreed with independence would affect all deposits even if they are from a bank that has its headquarters in another community. BBVA, among them, would be among the most vulnerable because after buying Unnim and Catalunya Banc, the entity chaired by Francisco González owns 30% of the branches there and 21% of its credit portfolio. The other scenario is the accounts opened in other regions: these, although they are from CaixaBank and Sabadell, would be safer.


And if there is independence?
That Puigdemont goes out on the balcony and declares independence unilaterally is useless if the international community does not recognize you as a State. But, what if I got this support? “Then the banks that had their headquarters in Catalonia would risk being nationalized”, warns Flores, which precisely circumscribes the change of address of Sabadell and CaixaBank to avoid a nationalization.

Would there be a playpen?
It is the fear of many citizens and the rumor spread these days on social networks. “The corralito will necessarily be produced if the independence is formalized”, explains this analyst. “But the panic and the flight of deposits towards Andorra, France and Spain would be in the whole banking, not only the Catalan”.

And what about my mortgage if another currency is created?
The formal independence and the birth of a “Catalan crown” is still land for the fiction economy. But if it occurred, according to Flores, “it would be a luck for the indebted” because the leakage of deposits from Catalonia would force a depreciation of the new currency to recover competitiveness … and that would facilitate the return of the loan signed in euros.

But those two banks have fallen a lot in the stock market …
That is another subject. A massive withdrawal of money in Catalan banks would affect the solvency of CaixaBank, Sabadell and even the Caja de Ingenieros, based in Caspe street in Barcelona. And we already know from Popular what happens if a bank loses liquidity in jets. “The Deposit Guarantee Fund protects up to 100,000 euros of clients’ money,” Flores recalls. But of course, it only protects the funds of banks in the European Union. If Catalonia leaves the club, the Catalan bank loses the umbrella. Hence the changes of venue. The association of banking users Adicae criticized yesterday however that the “precipitate flight” of Sabadell “generates alarm”.

So, do I calm down?
“Nowadays, any depositor can be at ease in a Catalan bank, Bankia or Santander”, says Flores. Yes, a peace of mind up to the mentioned 100,000 euros deposit limit … and whenever a bankruptcy does not catch the entity with its headquarters in Catalonia and outside the shelter of the Guarantee Fund and the EU.

Why CaixaBank and Sabadell went up on the stock market this Thursday?
Exact. Investors welcomed the fact that the Sabadell moved its headquarters to Alicante and in the last half hour of the session the titles skyrocketed from a growth of 3.16% to another of 6.16%. The possibility that CaixaBank imitates it increased its share by 4.93%.