Invest in Spain: Attracting Foreign Business




Episode Loading...




PharmaTelevision requires Javascript enabled and Adobe Flash Player to watch our programmes. If you do not have Flash installed, you can download it for free from the Adobe Flash homepage.

Improve your Internet experience and start watching exciting new video content.

Video title: Invest in Spain: Attracting Foreign Business
Released on: April 06, 2010. © PharmaVentures Ltd
Share/save this page:
Email
Bookmark
Facebook
Twitter
LinkedIn
Follow us:
RSS
Twitter
  • Summary
  • Transcript
  • Participants
  • Company
In this episode of PharmaTelevision News Review, Fintan Walton talks with Ana Arias, Life Science Manager at Invest in Spain. Filmed at Bio-Europe Spring 2010 in Barcelona, Spain, they discuss:

• Invest in Spain's mission to attract foreign companies to Spain

• Why foreign companies should invest in Spanish business

• Grants available for companies coming in to Spain

• Spain's attraction from a skillset and educational point of view

• The types of company that Invest in Spain is targeting

• Invest in Spain as a nationwide programme

• Invest in Spain's targets over the next 5 years

Invest in Spain's mission to attract foreign companies to Spain.
Fintan Walton:
Hello and welcome to PharmaTelevision News Review here in Barcelona at BioEurope. On this show I have Ana Arias, who is Life Science Manager at Invest in Spain based in Madrid, welcome to the show.
Ana Arias:
Thank you.
Fintan Walton:
Ana Arias, Invest in Spain obviously is a very important national body that is trying to bring in investment into Spain, what is your role? What is your purpose in Invest in Spain ?
Ana Arias:
Invest in Spain as you've said before, we are a leading organization a national organization belonging to the Ministry of Industry. And our mission is to attract foreign companies into Spain to set up their business in Spain and to expand their business into in our country. So our main focus is to help these companies to come into our country and to be happy here and to continue expanding their business.
Why foreign companies should invest in Spanish business.
Fintan Walton:
So why should a company invest in Spain?
Ana Arias:
For a micro economic point of view I don't know because may be Spain is not the very well known because of micro economic points of view we are for example the 9th largest economy in the world or the 6th largest exporter in the world. Regarding tourism for example we are the 3rd in the world after France and USA in tourism. But from the biotech, pharma, life science point of view you know we have a very good position in the world, regarding pharma we are the 5th in the European Union largest market and the 11th in the world. We have a very good balance between basic science so for a company who wants to for example to make clinical trials in Spain, Spain represents a good balance between basic sciences, we have very good skill and work force. We also have a very good net of university that are concerned to hospitals so for a company that wants to come to Europe, Spain will be a perfect place to have basic science, human resources and plus we have our logistics, we are very well connected to Latin America we also got east oriented counties Europe and also North of Africa and apart from that we have a very good incentives programs provided from the European Union and from the Spanish Government. So for example a company who is willing to enter into Europe can just for example one region in Spain for example (indiscernable) to show whatever one of the fourth of the competitive federal establishes and we can also the European Union and the Government can benefit this company until a 40% of the project with grants , so it's a"
Grants available for companies coming in to Spain.
Fintan Walton:
So this an inward company coming into Spain?
Ana Arias:
Yeah.
Fintan Walton:
Who's gonna conduct say research and development if they wish to do that.
Ana Arias:
Yeah, yeah.
Fintan Walton:
Will get up to 40% in grants?
Ana Arias:
40% yeah, not only there at the grants, there in the grants because we just a part for example we Invest in Spain have a technological fund that gives direct aid subsidiaries to companies that makes any kind of activity in R&D. We give direct aids so a company can get benefit from this direct aid plus the other finance that government and EU gives to the company until a maximum of 40% so it's very convenient for a company. So if a company is looking for like a balance between human resources skill, technological and hospital university atmosphere of translational research and healthcare system plus aids plus quality of life that is also important to live for our business women and business men Spain could be good for them.
Spain's attraction from a skill set and educational point of view.
Fintan Walton:
I suppose one thing is having the financial inducement which is obviously there the other is to make sure you get the right skill sets that's one of the key thing so how would you how is Spain ranked in the rest of the Europe in terms of it's education and skill force?
Ana Arias:
For example we have the in terms of scientist output we have 7000 scientist only in biotech regarding publications we are the fifth in biochemistry and biomedical publications. And just to show update just an information we published many, many new information many publications and 60% of those publications have been mentioned by and used by US patents.
Fintan Walton:
Right.
Ana Arias:
So apart from that we have for example we have 80 universities distributed in all over Spain and have more than 30 technological centres. We have more very important centre like the European Observatory for Biotech here in Barcelona or the European Stem Cells (European Stem Cell Network) in Sevilla so we have and those observatories and those centres choses chosen places where scientist and skilled people are, they then go along to (indiscernable) yeah.
The types of company that Invest in Spain is targeting.
Fintan Walton:
Okay. So obviously you are trying to bring companies into Spain?
Ana Arias:
Yeah.
Fintan Walton:
What who are the type what type of companies are you targeting? What type of companies do you want to bring into Spain?
Ana Arias:
Into Spain, well regarding this sector because Invest in Spain not only cover this biotech pharma sector covers all other statistic sectors IT, energy, life science, automotive but regarding this biotech sector we are not only considering whether multinational, whether a small companies for us it's the same. Our focus is that their main purpose in Spain is to have R&D activities to give some kind of value to the local to the national business climates of the national companies, so we are focused in those companies who are willing to make any kind of R&D activity in Spain. Small, multi-nationalized for example we have been recently this January have been in a very good project with GlaxoSmithKline that have chosen Tres Cantos in Madrid for the new facility for investigating tropical diseases and malaria, so they were between UK and another country and Spain and finally they have chosen Spain. GlaxoSmithKline is a very good, very good example, another example could be a small company called Nanologica for example it's very new one, it's a Swedish company. It's the 5th more important in nanotech and has moved from Sweden to Malaga south of Spain because Spain has a very good centre there called Bionand( Andalusian Center for Nanomedicine and Biotechnology) they are going to collaborate with them to cooperate and make R&D activities, so Nanologica this is more or less I think 10 or 15 employees, GlaxoSmithKline I don't know how much that.
Fintan Walton:
Very big corporation.
Ana Arias:
So yeah, yeah, yeah, we don't distinguish between big and small.
Fintan Walton:
Okay.
Ana Arias:
The core of business.
Invest in Spain as a nationwide programme.
Fintan Walton:
Right. Now the other thing with Spain is you got all these various regions you've got the but you are obviously a national body you are working at a national level you are based in Madrid, so how would you work with the regions? We are based here in Catalonia for an example in Barcelona do you does Invest in Spain work very closely with the Catalonian local government?
Ana Arias:
Yeah sure, we are based in Madrid just for by accident or because we are near the government that's not the important point, but we work with all their regional agencies like Accio for example here, from Madrid there were 17 regional agencies, we work in line with them coordination with them so if there is a company willing to coming to Spain we work with all of them in order to present the company, the best option for the company, so each of the regions present the offer. So it's like every, every of the 17 applies for this project. So with they compete between them, we compete to give the best offer in terms of scientist, aids, location, infrastructure whatever, so we are we work with them and once the company has decided one or two or three we accompany we go with the company to visit each of the regions with the local agency in order to know what is the best and to try to end until they chose the one, yeah.
Invest in Spain's targets over the next 5 years.
Fintan Walton:
So looking into the future what's your objective, what would you like to see in the next five-years for Invest in Spain , what sort of achievements would you like to see happen so that you can say we've we at Invest in Spain have done well to bring in business?
Ana Arias:
Well we have many, first of all we have to let off the crisis to spread and when the crisis has gone, but I think biotech could be a good instrument, a good sector to stop the crisis or not to have the crisis so strong here in Spain.
Fintan Walton:
Sure.
Ana Arias:
The first our first aim would be to the government the Spanish government to invest more in R&D Spain in order that we can attract more investment companies to collaborate with those companies or those technological centres that makes activity in R&D and another point would be to attract more companies here but sometimes it's difficult you know because it's country we compete between with another country in terms of tax rules and incentives so those are so our main focus would be to government to invest in R&D to attract R&D activities in Spain, foreign activities and also venture capital, foreign venture capital to Spain that we need to have more here in Spain.
Fintan Walton:
Sure. Ana Arias, thank you very much indeed for coming on the show. Thank you.
Ana Arias:
Thank you, thank you.
Ana Arias
Life Science Manager
Ana Arias is working as Life Science Manager at Invest in Spain .
Invest in Spain
Invest in Spain (The State Company for the Promotion and Attraction of Foreign Investment, plc.) is a public corporation.The creation of The State Company for the Promotion and Attraction of Foreign Investment, plc was approved by ministerial decree on 22 July 2005 and officially chartered on 17 October 2005. It is part of the Secretariat of State for Trade in the Ministry of Industry, Tourism and Trade.