How to finance the technological investment of your winery?
On 3 November, our colleague from the Investment and Innovation Projects area, Ricardo Zazo, took part in the online seminar “How to finance your winery’s technological investment”, to explain the different direct and indirect R&D&I subsidies currently available and of interest to entities in the wine sector.
From the PASVE, managed by the MAPA, to some CDTI aids, without forgetting the tax incentives applicable to R&D&I projects carried out, were the main programmes addressed during this training activity of the Wine Technology Platform.
Our head of the Investment and Innovation Projects area, Ricardo Zazo, gave the webinar “How to finance the technological investment of your winery” organised by the Wine Technology Platform, within the framework of the training and capacity building plan of the SISVITIMAD project.
During this training activity, which was attended by 48 participants, Ricardo Zazo addressed different types of direct and indirect aid for technological investments in the wine sector, highlighting some of the most relevant since, as he himself stated, “there is a large amount of funds available to finance investments in wineries“. He added that these funds are channelled through different financial instruments, which are increasingly subject to more rigorous technical and economic requirements and justifications, “which is why good investment planning is the basis for achieving both approval of aid and success in receiving it“.
He began by commenting on the Support Programme for the Spanish Wine Sector (PASVE) which, managed by the Ministry of Agriculture, Food and Fisheries, is channelled through the Autonomous Regions. This aid finances any type of investment in a winery, including civil works, at any stage of the wine production or marketing process. It is a competitive aid in the form of a direct subsidy, which varies depending on the size of the company and its location.
Ricardo Zazo then discussed two types of aid managed by the CDTI: the Innovation Direct Line (LIC) and the Expansion Direct Line (LICa). While the former finances innovative projects that include investment and expenditure for their implementation, the latter focuses on the acquisition of innovative assets. Both take the form of a privileged loan with a subsidy component which, in the case of LICa, will vary depending on the type of company and its location. In the latter case, moreover, companies operating in the primary sector are excluded.
Indirect aid: tax incentives
As a final touch to the first section, Ricardo dealt with indirect aid, which, as he stated, in many cases are “the great unknown” but of great interest to the wine sector. These are tax incentives for carrying out R&D&I projects, which are directly applicable to corporate tax and, therefore, not subject to a system of competitive tendering.
“This is an incentive for business innovation in all areas of the company and regardless of its size“, according to Ricardo Zazo, “although it is a mechanism that is rarely applied in Spain, mainly due to its complexity“.
Finally, he presented a practical case study – a fictitious one – by means of which the attendees were able to learn how to apply the direct and indirect aid previously described to the wine sector.
Did you miss it?
If you were unable to connect on 3 November, the full video of the session is available at the following link:
You will also find available the full presentation that our colleague Ricardo projected during his speech.
SISVITIMAD, the boost for R&D&I in the wine sector in Madrid
The “Master Plan to boost the innovation system in the wine sector of the Community of Madrid” project, SISVITIMAD, is an initiative of the Wine Technology Platform that aims to consolidate itself as a wine cluster in Madrid to boost R&D&I in the sector.
With the launch of this project, the PTV aims to help the Madrid wine sector to position itself, nationally and internationally, as a new wine reference that values the differential characteristics of its climate, soil and varietal richness, incorporating R&D&I as a key tool for its future development, promoting collaboration and technology transfer between all the agents involved in innovation in the sector.
All this is carried out through a work plan that, between 2020 and 2022, is based on four activities: R&D&I technological diagnosis, wine innovation plan, training, dissemination and internationalisation plan and collaboration plan in technological networks and platforms.
SISVITIMAD has a total budget of €314.801 and has been financed with €157.400,50 50% by the Regional Ministry of Science, Universities and Innovation of the Community of Madrid and the European Regional Development Fund (ERDF 2014-2020).
