In December 2022, the Congress of Deputies definitively approved the Startups Law, as part of the Spanish Government's roadmap to digitize the country's businesses. Its objectives are, broadly speaking, to stimulate investment; attract talent; promote collaboration and cooperation between large companies, SMEs and startups, and between these and universities and research centers, as well as promote R D i (Research, Development and Innovation) also in the Administration.
To promote R D i, technological patronage is presented as a financing channel that takes advantage of the tax incentives that the legislation offers to these three disciplines. It is a financial instrument that channels private investment into research, development and technological innovation projects in exchange for short-term profitability, which can reach 35% in the case of legal persons and 47% in the case of individuals. physical in a period of less than ten months.
It is a financing instrument based on tax incentives that wants to promote private investment and economic recovery through technological innovation. With greater agility and with fewer requirements than other private investment channels.
With technological patronage, R D i companies that need financing to grow a project with a positive impact and that promotes research in Spain and people or investors looking for innovative development projects, wanting to contribute to research from social responsibility corporate, they can shake hands. And, according to the Corporation Tax Law (LIS), obtain tax credits.
Many research startups find themselves in a situation where it is difficult for them to secure their profits, which is essential to claim tax deductions. That is why they decide to use the technological patronage of I D i projects through structures based on the assignment of tax credits through the Economic Interest Groupings (AIE) scheme.
These AIEs, which constitute a company with fiscal transparency, must have one of the following corporate objects:
Patrons or investors are moved by altruism and social commitment: their only benefit is to obtain credits and tax incentives resulting from the projects in which they invest. They provide the capital and allow the startup to receive part of the cost of the project to develop it on behalf of their AIE, which they bill for their services. In other words, the AIE subcontracts the services of the R D i startup.
So whose project is it? Of the AIE, until it is dissolved, since it is the one that can apply the tax credits. The research startup therefore waives its deductions in favor of having a solid financing base during the development of the project and having a figure that allows them to jointly develop the project.
Each party involved gets a series of benefits:
The patrons obtain profitability by taking advantage of the tax deductions that are generated when carrying out the project under the scheme of an AIE.
Research and development startups have a direct financial injection. This injection is non-returnable and does not require endorsements, additional guarantees or capital increases.
The figure of a legal expert on startups and tax issues is essential. He will be the one who can advise to create a framework agreement, a scheme that exposes the operation of the collaboration structure between the startup and the AIE.
Through this agreement, for example, the amount of the investment is committed and, if necessary, its participation in the capital increase in the AIE.
In addition, it is necessary to establish a contract for the provision of services by which the AIE subcontracts the entire activity of the startup I D i and is registered as the owner of the results of the activity, remunerating the startup for the work carried out in a period of time. certain.
Professional advice is also key to correctly closing the collaboration project at a legal and fiscal level and to settle both the AIE and the taxes of each investor.
