Spain’s conservatives want private funding to offset cuts

Spain’s right-of-centre government wants to encourage private funding of research to offset budget cuts.

Economy minister Luis De Guindos, who is responsible for research and innovation, says private investment could “minimise the damage” caused by several years of budget reductions. “Venture capital will play a very important role”, in particular to boost small businesses doing health, energy and transport research, De Guindos told the Congress of Deputies, the Spanish parliament’s lower house, on 7 February.