Supporting innovation for the energy transition
Entrepreneurs who are interested in taking part can apply from today to March 4 2020 through a form available at fundacionrepsol.com.
The Entrepreneurs Fund supports between six and eight companies in the pre-commercial phase each year, giving them the boost they need to become market realities. What they all have in common is that they are developing innovations that contribute in some way to a more sustainable energy transition.
The chosen projects will receive up to equity free 120 000 euros a year in funding and advice from a team of mentors. In addition, the entrepreneur teams will be able to reach the Repsol experts and even carry out pilot trials at the energy company's facilities.
We do not ask for any share of the companies' capital or intellectual property rights in exchange for this support.
The acceleration process lasts for one year, and may be extended for a maximum of 12 months.
Who can participate?
The program is aimed at small-and medium-sized technology companies worldwide, as the teams do not have to relocate in order to take part.
Repsol Foundation's accelerator program supports startups that work on innovative solutions in different areas:
- The circular economy.
- Technologies to obtain or use materials of greater added value or higher performance in the chemical industry.
- Technologies disrupting the current energy market and mobility space.
- Efficiency in operations in the oil and gas industry.
Committed to innovation for the energy transition
Through the Entrepreneurs Fund, Repsol Foundation seeks to effectively support entrepreneurs that contribute towards a more sustainable energy transition with their innovations. To date, a total of 54 startups have been accelerated over eight editions.
Furthermore, Repsol Foundation has an investment fund, Repsol Social Impact, focused on companies that work towards energy transition and that also generate employment opportunities for groups at risk of social exclusion. Initial investments have been made in Koiki, a sustainable last-mile distribution company, and Sylvestris, a reforestation and environmental consultancy company.
Repsol Social Impact is the largest investment fund linked to the fight against climate change in Spain, with an endowment of 50 million euros. It marks the entrance of Repsol and Repsol Foundation in the impact investment sector, with the objective of becoming leaders in Spain and Portugal.