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economic promotion in asturias

The Economic Development Agency of the Principality of Asturias (IDEPA) is a Public Body, dependent on the Asturian Regional Government..The IDEPA takes on the role of intermediary between companies and the different departments

from the regional and national government, company promotion entities, R&D&i support infrastructures, financial entities and finally, the agents that should intervene in a company project.

what is IDEPA?

The IDEPA is the main instrument for economic promotion in the region, which breaks down as:

Assessing the projects presented by companies and investors with the
aim of establishing the most suitable support system for each one.

Developing industrial infrastructures and promoting the R&D&i and globalisation of companies in the region.

Capturing new projects which strengthen the Asturian business fabric
and creating loyalty from investments made in the region.

support for investors

IDEPA has over 30 years of experience in supporting companies and entrepreneurs, as well as promoting Asturias as a location for investment. It provides companies with an analysis and aid service from a technical-financial division, offering specialized attention to new investors that wish to establish in Asturias throughout all phases of the project.

Methodology

ANALYSIS PHASE OF THE INVESTMENT/PROJECT

  • General information about the region and areas of interest for
    the company.
  • Specific information for the project: industrial land/ceiling,
    potential partners, human resources, training, financing and financial aid, industrial property, supplies and subcontracting, etc.
  • Help for investors during their visits to the region.
  • Representation and coordination of agendas with companies
    or institutions of interest to the investor.

IMPLEMENTATION AND DEVELOPMENT PHASE

  • Information about the necessary administrative procedures to follow.
  • Managing meetings with the competent governments.
  • Specialised advice in asking for financial aid and subsidies on a regional, national and international level.
  • Promotion of company participation in European programmes.
  • Intermediation with the sector, Cluster and company support
    entities and R&D&i infrastructures available in the region.
  • Advice in the design and financing of specific training programmes, especially for the incorporation of companies into information and communication technologies.

Singular infrastructures

FINANCIAL AID PROGRAMMES FOR COMPANIES

During 2016, the IDEPA designated funds of over 16 million euros to the promotion of businesses. The lines of aid are centred on supporting productive investment, R&D&i. globalisation, the promotion of Cluster, the creation of Technology-Based Companies (TBCs) and improving industrial
infrastructures, as well as specific programmes for locomotive companies.

DESIGN AND DEVELOPMENT OF REGIONAL STRATEGIES

The IDEPA is in charge of piloting the design of Strategies for the regional government, such as the RIS3- Research and Innovation Smart Specialization Strategy approved in 2014 and backed by the European Commission.

Estrategia RIS 3 2014 2020 para Asturias

Priority areas have been outlined within this framework: Advanced and sustainable materials; new production models; supplies; technology for networks; Asturias Industrial Steel Post; food and agricultural markets and; demographic ageing and quality of life.

INVESTOR SUPPORT ENTITIES

The IDEPA develops its activity in coordination with the following instruments of company promotion, taken part by regional administrations:

SRP.
Regional Promotion Agency of the Principality of Asturias

Public venture capital firm. Share capital participation and concession of loans, preferably participative.

ASTURGAR
Reciprocal Guarantee Agency of Asturias
Company financing via the concession of technical and financial guarantors.

CEEI Business and Innovation Centre European Business and Innovation Centre
Support for entrepreneurs and Technology-Based Companies. Company Incubator Management and Bio-incubator of the Technological Park in Asturias.

ASTUREX
Foreign Promotion Agency of the Principality of Asturias

International promotion of Asturian companies.