The Next Generation EU funds are a set of financial aid programs provided by the European Union to its member countries with the aim of boosting the economy and promoting economic development.
Thanks to these European funds, various professionals and companies have gained access to extraordinary funding that has enabled them to achieve their goals.
Would you like to be one of them?
1. What are the Next Generation EU funds?
Next Generation EU is a special instrument created by the European Council in July 2020 to invest in a shared future. Thanks to these European funds, the European Commission was able to issue up to 750,000 million euros in its own debt.
This amount is divided into two major instruments:
2. European MRR (Recovery and Resilience Facility) Funds
A total of 723,800 euros falls under this category. More than 53% is allocated to loans, and the remainder to grants.
Its purpose is to invest in reforms within member states and thereby promote a strong and sustainable economic recovery.
3. REACT-EU Next Generation Fund
With a budget of 50,600 million. Its objective is to promote cohesion and support European regions. Spain is allocated 12,400 million euros, and the Autonomous Communities are responsible for managing these funds.
In total, the amount allocated to Spain over a six-year period amounts to 140,000 million euros.
Don’t you think you deserve a share of these funds?
3.1 Main Areas for the Allocation of These European Funds
In the context of Spain, extraordinary funding from European funds has been allocated to promote development in four specific areas:
– Digital transformation.
– Green transition.
– Social and territorial cohesion.
– Equality.
The government is responsible for managing and distributing these funds. To this end, it works in collaboration with the autonomous communities and local entities.
4. How can you obtain grants from the Next Generation EU funds?
If you are self-employed or own a business, you are a potential recipient of Next Generation funding.
The terms of the grants outline three possible ways to access these subsidies:
1. Bids for construction contracts, that is, indirect investment.
2. Grants, subsidies, or calls for proposals through the autonomous communities.
3. Direct contributions from government ministries.
4.1. Application Timeline and Digital Kit Voucher
The administrative procedures designed to ensure fairness and transparency in the distribution of funds are governed by strict dates and deadlines.
The European Union has set 2026 as the deadline for this distribution, which will take place in two phases:
– Between 2021 and 2023, 70% of the total will be distributed.
– Between 2024 and 2026, the remaining 30% will be distributed.
For example, one of the most accessible options for businesses is the so-called Digital Voucher. These are investments offered by the government through the Digital Kit, aimed at promoting the competitiveness of Spanish businesses.
In the specific case of the Digital Voucher, the call for applications is organized according to the following three categories of businesses:
– Segment 1: Businesses with 10 to 49 employees. The call for applications opened in March 2022.
– Segment 2. Businesses with 3 to 9 employees, available starting September 2, 2022.
– Segment 3: Entities with 0, 1, or 2 employees, available starting October 20, 2022.
5. How to Apply for Next Generation Funding
Would you like to receive European funding through the Digital Voucher program?
The process is simple. The first thing you need to do is access the Acelera pyme portal, register, and complete the published questionnaire. The questions focus on your business’s current status in terms of digitalization. They are not binding but rather provide an assessment of your initial status.
Next, you can apply for your Digital Voucher. Within a few weeks—or at most a few months—you’ll receive approval for the grant, unless you need to correct any details.
Funding amounts vary depending on the number of employees, ranging from 2,000 euros for the lowest category to 12,000 euros for the highest. Once the corresponding amount has been granted, you choose which technology solutions you want to invest in and select a Digitalization Agent.
These professionals, certified by the system, will be responsible for carrying out the work. They will develop the digitization projects and handle the administrative procedures before receiving payment directly from the government. Therefore, you won’t have to worry about most of the paperwork; you’ll simply receive the digitization services you need.
The conclusion is clear:
Don’t hesitate to apply for Next Generation EU funds.
Keep in mind that if you don’t apply for your share, those funds will likely end up strengthening your competitors.
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Image by pch.vector on Freepik
