Spain to Reform Financial Sandbox with ICO Line and Faster Deadlines

The Spanish government will submit a reform of the financial sandbox to the Council of Ministers on Tuesday, introducing a new credit line from the Instituto de Crédito Oficial (ICO) and reducing evaluation times by 30%. Over 40 of 117 projects have already been tested in real environments since the sandbox launched five years ago Source: lavanguardia.

Key Measures

The reform includes several major changes:

• Permanent open window: The current semester-based cohort system will be replaced by a continuously open application window, allowing companies to apply at any time Source: elmundoes.
• Reduced evaluation times: Assessment periods will be cut by about 30%, from six months to around four to four and a half months Source: infobae.
• Simplified guarantees: Guarantees will only be required when strictly necessary, removing a barrier for low-risk projects Source: lavanguardia.
• New ICO line: A specific ICO credit line will serve as a "rampa de entrada" (entry ramp) for companies needing funding, with details to be announced on July 29 Source: elmundoes.

Expanded Scope

The definition of innovation is broadened to include fields such as artificial intelligence applied to finance and asset tokenization. Thematic calls will address emerging regulatory challenges Source: infobae. Vice President Carlos Cuerpo stated the goal is to "give greater agility to innovation" while maintaining safety Source: lavanguardia.