The Canary Islands are known as the natural research laboratories of the Atlantic. With a stable, yet diverse environment, the Canary Islands are the perfect place to install a biotechnology project.

Opportunities:

Due to the unique environmental and geographical conditions of the Canary Islands, there are many opportunities for product testing, test markets and pilot tests of products. One example of a test carried out due to the biodiversity is testing 100% energy self-sufficiency on the island El Hierro. The rich biodiversity allows many sectors to benefit from the natural conditions such as pharmacology, nutrition and energy. Furthermore, as the islands are surrounded by the sea, there are many opportunities in the preservation of marine biodiversity, aquiculture and oceanography.

International cooperation:

Thanks to the numerous opportunities that the Canary Islands offer, international cooperation between several companies occurs when testing and aiming for a similar result. For example, international companies are cooperating to test how to use renewable energy to provide electricity in villages and isolated rural communities in West African countries. Due to its strategic location between Europe, America and Africa, international cooperation is encouraged. 

Financial incentives:

• The Canary Islands has the lowest corporate tax rate in Europe at only 4%.
• The Canary Islands offer R&D tax credits of 45% for research and development in technological innovation.
• Reserve for Investments in the Canary Islands (RIC)- up to 90% tax relief
• Deduction for the creation of subsidiaries or permanent establishments in Western Africa
• The Canary Islands have their own Economic and Tax System (REF) which is fully approved by the EU and applies double taxation conventions and fiscal transparency.