Karlovy Vary wants to apply for a subsidy for an innovation centre, the state has CZK 635 million

The Karlovy Vary Region plans to apply for a European subsidy for the Karlovy Vary Innovation Centre (KIC) in September. The investment in the development centre, which is to connect companies with research and development centres, is to amount to CZK 635 million and is to be financed in large part from the Fair Transformation Fund. The application still has to be agreed by the regional council, probably in September, announced regional councillor Patrik Pizinger (Local).

"The purpose is mainly to support small and medium-sized enterprises in the Karlovy Vary Region. It is to create a background for their innovation and their creation. In such an innovation centre, they will meet, for example, universities, the University of West Bohemia or the Czech Agricultural University, with whom they (the company) will be able to solve the development of their products. However, start-up entrepreneurs will also find facilities here, they will be able to rent an office or ad-hoc, for example, a conference room," Pizinger described.

The KIC will consist of three buildings with passive energy standards, which will be built simultaneously. The subsidy is expected to account for up to 65 percent of the total cost.

According to Pizinger, the model for the Karlovy Vary Innovation Centre is the similarly focused Tech Tower project in Pilsen, which also provides space for the development of companies. According to a feasibility study commissioned by the region, the complex should do without operating subsidies within three years if it can be filled to at least 50 percent capacity. But estimates suggest that there should be more interest. For the Karlovy Vary Region, the innovation centre should not represent additional operating expenses.

In addition to private companies, regional organisations such as the 4K creative agency, the Institute of Spa and Balneology and the regional energy agency should also find facilities in the complex. It also wants to cooperate with other entities that are dedicated to promoting entrepreneurship in the county.

If there are no problems and the county receives a subsidy for the construction, it could start next year. Construction is expected to take about a year and a half to two years. The first companies and universities could move into the new innovation centre at the end of 2026 or in 2027.

Source: CTK