The Madrid City Council, through the Department of Economy, Innovation, and Finance, led by Engracia Hidalgo, has announced a new call for grants to promote social economy projects in the city of Madrid for 2025, amounting to 250,000 euros. Applications for the grants can be made through the municipal electronic headquarters between March 1 and March 31, inclusive. With this initiative and an upcoming funding call for project development in the sector, the City Council is contributing 700,000 euros to social economy this year.
The goal, as stated by Hidalgo, is to «create the right conditions for social economy to thrive, promoting the creation of opportunities for entities in the sector to start up and expand.»
Beneficiaries of the grants
Entities engaged in social economy activities that promote cooperation among businesses, carry out pilot projects for new social economy entities, open new lines of business, or change activities in existing social economy enterprises are eligible for these grants. The maximum grant amount per applicant entity is 20,000 euros, increasing to 25,000 euros for insertion enterprises.
This grant call is the first one published in support of social economy entities for 2025, and it will be followed by another call soon to be released by the Madrid City Council aimed at financing contributions to the social capital of cooperatives and labor societies, subsidizing a portion of the capital contribution whether financed with their own resources or through loans.
Both grant calls reflect the Madrid City Council’s commitment to supporting social economy and are part of the initiatives promoted by Hidalgo in favor of a sector that pursues general economic and social interests, prioritizes people, promotes local development, social cohesion, inclusion, and the creation of stable and quality employment.
Nearly 6 million euros to support 1,200 companies in five years
Social economy is a sector estimated to be comprised of 8,650 entities and 52,725 affiliates in 2022, representing 1.9% of total affiliates in the city of Madrid.
Since 2019, the Almeida Government has provided 5.6 million euros to support a total of 1,195 companies in the capital in areas such as sustainable transport, training, waste management, and cultural production and management.
