The project, put forward by the Balearic Ministry of Economy, Finance and Innovation, is called the System for Support of Tourist Innovation in the Balearic Islands (SAITUR). It will cost 4'680'000 euros, half of which will be paid by the Ministry and the rest by the European Regional Development Fund. The objective of the initiative is to combine the activities of the tourist sector and the innovation system. All of this is being proposed on the basis of respect for and protection of the environment, the new demands made by globalisation and the education of society in the care of the environment. The programme will last for 24 months and among its principal objectives is the creation of a centre of technological research and development. This will focus on tourism with reference to regional, national and international areas and the systematic stimulation of entrepreneurial initiatives through the creation of a virtual incubator for tourist companies. It is expected to contribute to the economic diversification of the islands and stimulate interaction within the tourist sector with regard to information technology and technologies of communication, construction and renewable energy, amongst others. The project will also seek to join together tourist working groups which will enable them to consolidate the sector as the hub of the internal economy. With reference to the regional innovation system it will encourage a network of cooperation and exchange of ideas.
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