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Tenerife has launched 'Tenerife Space Horizon', an ambitious aerospace strategy aimed at establishing the island as an international leader in space, technological innovation, and knowledge economy. The initiative anticipates creating over 500 direct jobs and mobilizing approximately 79 million euros in investment over the next five years, enhancing the island's economic diversification.

The strategy builds on the scientific and technological work conducted on the island, leveraging the international reputation of the Instituto de Astrofísica de Canarias and advanced infrastructures like ITER’s supercomputer. Key objectives include developing space-related technological infrastructures, promoting research and innovation, strengthening the business fabric, and forming national and international alliances. Projects under this strategy include the Islas Canarias satellite constellation, a teleport, and the ESA BIC Canarias program.