The initiative, promoted by the Department of Commerce and Business Support, seeks to foster innovation and competitiveness within the sector. Aid will be channeled through business associations, federations, and confederations.
The initial allocation is 320,000 euros, expandable by an additional 50,000 euros, with each project eligible for up to 50,000 euros. Funding can cover 100% of eligible expenses, provided the minimum project budget is 25,000 euros. The goal is to provide resources for transformation, innovation, and business management improvement.
The call for applications establishes that initiatives must have a direct impact on the business fabric, prioritizing those focused on modernizing management models, incorporating digital tools, and implementing sustainability criteria aligned with the Sustainable Development Goals (SDGs).
Councilor Krysten Martín highlighted that the program aims to enhance the competitiveness of the productive sector through innovation, enabling local businesses to access modernization tools and sustainable practices for market competition. This initiative is part of the Tenerife Island Council's strategy to support the local economy and strengthen proximity commerce.
