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Incentives for the Spanish Biotechnology Industry

Incentives-for-the-Spanish-Biotechnology-Industry.jpgA growing industry in Spain is the biotechnology sector, which became very attractive to both local and foreign investors. The expansion of this field can be seen in its share increase observed in the Spanish Gross Domestic Product (GDP). For example, in a period of only six years, the biotechnology sector increased from 2.98% GDP share (in 2008) to 10.35% (in 2014). Investors who want to open a company in Spain in this field can receive legal assistance from our team of lawyers in Spain, who can help businessmen obtain licenses available for this sector. 
 

The sub-domains of the biotechnology field in Spain 

 
Biotechnology in Spain is comprised of many sub-sectors, represented by companies which manufacture various products addressed to specific industries. 
 
Biotechnology in Spain can be useful for the health industry, which benefits from products necessary for molecular diagnosis or for therapies ranging from cosmetics industry, vaccines to oncology. Biotechnology is a field that addresses to the agricultural industry in Spain, providing research and development projects in areas related to foodstuffs, environment or agriculture. 
 
Those who want to register a company in Spain in this field can set up a business in the industrial biotechnology sector, that means investing in sustainable technologies that do not harm the environment. The field also refers to aquaculture, in the conditions in which fish products are overexploited and new systems have to be created in order to reduce the current situation. Our team of attorneys in Spain can offer assistance on how to invest on the biotechnology market
 

State incentives for biotechnology companies in Spain   

 
Innovative companies operating in the biotechnology industry addressed to the health sector are sustained through a funding which can vary from EUR 500,000 to EUR 3,000,000. 
 
Pharmaceutical companies in Spain are sustained by a joint programme of the local Ministries, which are creating measures to increase the competitiveness amongst businesses operating on the local market. 
 
For more details about the incentives offered for biotechnology companies operating here, please contact our team of lawyers in Spain.  
 

Comments

  • Eddy 2016-11-06

    The biotechnology sector is a very exciting industry, because new products are developed on a current basis and they are very useful for other local or international sectors and that's why I believe that governments should sustain this sector through various incentives or programmes addressed to investors.

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