Spanish Community Financially Supports New Technologies

Maja Mazur
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The Spanish autonomous community of Aragon decided to grant over 12 million euro for the development of Industry 4.0 which includes new technologies like blockchain and artificial intelligence.

Money money money

Let’s be honest – funding is really important when it comes to science and new technologies. The research is expensive and up until the final product becomes profitable in some way, the scientists and creative teams need money. This is where global concerns like Facebook and government units come to the rescue. Donating significant amounts of money to fund startups and other initiatives, contrary to the appearances, pays off quite well.

Just yesterday, we reported about Californian University of Berkeley investing in blockchain startups. Now, we have another great news. It seems like getting involved in initiatives like this is becoming some kind of a trend. Hopefully, it will help blockchain and other new technologies grow and develop further.

Spanish Grant

On 12th of February, a local Spanish media outlet informed that the government of Aragon decided to give over 12 million euros for research within Industry 4.0. This term includes, among others, blockchain and artificial intelligence.

Turns out that the final amount of money is reportedly twice as much as previously planned. The idea was co-funded by the European Regional Development Fund (ERDF). It is a part of the Operational Program of Aragon for 2014–2020. Donated money will be used for the development of upcoming projects, analysis and industrial properties.

Education first

The program will also include education and promotion of the 4.0 Industry. The idea behind it was to attract investors and aspiring startups from various business sectors, like fintechs, research centers and other firms working with new technologies. The gifted funds will help businesses grow and adopt new technological solutions. This will eventually lead to increasing the level of digitalization.

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