ICO to launch new "technology transfer" category as part of the Fond-ICO Global programme
ICO chairman, Pablo Zalba, today announced at the Euromed Capital forum in Barcelona that the institute will launch a new technology transfer fund category as part of Fond-ICO Global. This initiative seeks to finance companies (spin-offs) that are set up to be dedicated to specific technologies developed fundamentally at research centres and universities.
ICO, through AXIS, its private capital management company, launched Fond-ICO Global four years ago to promote the creation of privately managed venture capital funds that invest in Spanish companies at all stages of their growth.
The new category announced today will be included in the tenth call to select Fond-ICO Global funds, scheduled to be launched in the first quarter of 2018. As part of the nine calls held to date, investments amounting to €1.424 billion in 64 funds have been approved.
In his speech, the chairman of ICO highlighted the importance of forums like Euromed-Capital "to analyse instruments that make it possible to address the issue of migration, one of the biggest challenges facing the European Union, from the financial system". In this regard, Zalba indicated that "promoting economic growth in home countries is essential". ICO was a pioneer in the development of financing in countries in the southern Mediterranean region, which can be seen in its 2005 participation in the launch of a private capital fund to promote the investments of Spanish companies.
Finally, ICO's chairman stated that "the current debate in the EU has demonstrated that the promotion of financing instruments other than just concessional instruments is the right way to promote investment projects, as can be seen in the recent approval of the European External Investment Plan".
In attendance at the Euromed forum were the Secretary of State for Innovation Carmen Vela, the French Ambassador to Spain Yves Saint-Geours, and the CEO of BPI France Nicolas Dufourcq, amongst others.