Object:
This call aims at the establishment of the regulatory basis for the grant, in accordance with article 2 of the law 38/2003 of 17 November, General grants, to private entities of a percentage of the investment as seed Capital in companies of the city of Madrid.
The main purpose of this aid is to collaborate in the strengthening of companies with potential for growth and development in its activity,
as of stimulus for job creation and the generation of wealth, at the time that encourages entrepreneurship and generated an environment in the city of Madrid, allowing you to consolidate a solid, stable and competitive business.
Susceptible of grant expenditures:
They shall grant the acquisition of temporary holdings in companies carried out by the beneficiaries in the eligible period that will begin with retroactive effect from January 1, 2012.
Request grant of up to 50 per cent of considered eligible costs with a maximum of 100,000 euros for each investment individually considered. However, a percentage lower than the one requested as eligible expenditure if the pending credit proves insufficient in the annuity shall assign as a grant.
They should meet the following characteristics:
-Carried out in the «seed Capital» of companies, meaning, the temporary acquisition of holdings held in the early stages of establishment of a company, from the development of the idea, preparation of the business plan and implementation of the production process up to the early phase of the process, and requiring finance growth or consolidation.
-Companies with less than forty-two (42) months old.
-The companies that purchased temporary holdings must have headquarters in the municipal area of the city of
Madrid.
-Also you can treat foreign companies or the rest of the country which have located in the city of Madrid is one
part of the activity or direction of your business through a branch, and must provide copy of the timely communication of opening
or resumption of workplace activity carried out at the community of Madrid, or by opening a branch in the municipality of Madrid, and must provide appropriate supporting documentation.
-The percentage of participation acquired may not assume control of the company.
Amount:
The total amount of the credit to grant convened is 4.000.000 euros, divided into 1,000,000 euros annual contributions each of them during the term of four years.
However, and in accordance with article 19 of law 38/2003 of 17 November, financial returns derived from the profitability of investments or actions, as well as those obtained sale or how many financial operations are performed on them in the four year period since its acquisition, shall also apply to the fulfilment and development of the subsidised activity in the terms provided for in the present call for proposals.
Permanence:
The minimum term of stay of investment shall be four (4) years. Exceptionally, in companies in which if any of
the following circumstances, which may divest before the expiry of the minimum period and stated:
-Society in which has cleared more than half of the subscribed capital and more than one quarter of the same has been lost in the last twelve months.
-Society in which at least some of their members have an unlimited liability on the debt of the company, has disappeared
more than half of the equity, and more than one quarter of them has been lost in the last twelve months.
-Any undertaking which, in accordance with the regulations, eligible to undergo a procedure of contest
of creditors.
In such cases, will be the obtaining of the authorization by the competent authority for the resolution of the procedure, prerequisite
and must provide the statement of income of the investee, together with a report justifying of the decision.
Capital recovered in the divestment should be applied to the fulfilment and development of the subsidized and must invest in seed capital under the terms provided in this call within the calendar year in which occurs the divestment.
Application date: 30 November 2015.