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With $3 billion, Canary Islands seek to join tech club

To most people, Spain's Canary Islands conjure up images of a beach chair and a swimming pool with a bar. But the islands, which are a state in the country, are trying to lay the groundwork to become a technology and development center in Europe.

Spain has given the islands $3 billion to jumpstart business in the region, but it has to be used over the next three years. Companies based in the islands, such as software developer Open Canarias, and government officials will pitch the concept at a symposium sponsored by Silicom Ventures, and angel investment group, on May 16th at the Computer History Museum. The symposium begins on May 16.