Call 2024 - Entrepreneurs fund

Call addressed to:

asda

Technological and high-impact startups

Startups that have innovative technologies and/or business models with a minimum viable product and that are in a pre-commercial or early commercial phase.

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Registered companies

Companies whose founders hold a majority stake and make both technological and business decisions.

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Location in Europe

Located in any country in the European Economic Area, Switzerland or the United Kingdom.

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Impact

Startups with women on the founding team and the potential to generate social impact will be positively valued.


We are looking for innovative technologies that provide solutions to the challenges of the energy transition

    • Urban, industrial, and agricultural waste use.
    • Renewable or biodegradable industrial products.
    • E-fuels and biofuels.
    • Hydrogen: production, transportation, storage, and use.
    • Other.
    • Energy Management Systems for consumers and businesses
    • Industrial process efficiency
    • Residual energy use
    • Other.
    • Water saving in industrial processes.
    • Post-treatment of industrial waters.
    • Other.
    • Preservation, maintenance, and regeneration of natural spaces.
    • Integration of industrial activity in the environment.
    • Carbon capture by means of natural processes.
    • Other.
    • New ways to obtain energy.
    • Local deployment and distributed generation of renewable energies.
    • Monitoring and control of renewable assets.
    • New storage systems.
    • Integration, conversion, and connection with the energy system.
    • Environmental impact management.
    • Other.
    • Electric vehicle charging facilities and services.
    • Sustainable mobility management solutions.
    • Other.
    • New technologies for capturing, storing, and using CO2 (excl. natural solutions).
    • Carbon footprint management systems.
    • Other.


What do we offer you?

Up to 120.000€

in the form of convertible loan.

 

12 months of acceleration

with the support of a team of first-class expert.

 

Pilot tests with Repsol

you keep your intellectual property in all cases.

 

Visibility and networking

so that you know and they know you.

 


Why apply?

When someone talks about high-temperature electrolysis and computational chemistry, we don't glaze over. We say. Tell us more.
We believe in what we do: we share the commitment to sustainability, the energy transition, and high-impact startups.
We know what we're doing: 77 technological innovation startups in the energy sector have gone through our acceleration program with a 70% survival rate.
We're good at what we do. We have the equipment and the means to help you validate your technology and help market it. We engage with startups for at least 12 months to help drive their success.
We understand how to create impact and we can help you boost your startup's impact.

Don't be left with any doubts

We will be happy to answer any of your questions. Just send us an email at fondoemprendedores@fundacionrepsol.com

 

You can stay up to date by following us on social networks:
Linkedin, X, Instagram, Facebook and Youtube.

 

 

 


Frequently Asked Questions

  • If your startup develops an important innovation relevant to the energy transition, but you have doubts about whether it fit in one of the focus areas, we recommend that you to apply to the program. The process involves some time to fill in the application form, but we believe it is a good investment considering the benefits of being admitted to the program. We guarantee that your application will go through a thorough, professional and respectful evaluation process.

  • Yes, we do not place any restrictions on this, as long as the founders maintain control of the startup and the work plan is not adversely affected.

  • We believe we can best help startups that not only need funding, but also need high quality mentoring and testing to prove their innovations. If you don't think you need any mentoring, perhaps it serves your interests better to approach other financial support schemes or venture capital investors for your business project.

  • All the information we request in the application form is protected according to the terms and conditions of the call.

    Furthermore, your personal data is protected by Repsol Foundation´s Privacy Policy in accordance with current Spanish/EU legislation on personal data protection.

  • Yes, there are no restrictions on applying several years in a row, in fact, we encourage you to do so.  Many of our accelerated startups have been successful in accessing the program after several attempts!

  • Regardless of the scope of application and country of origin, we focus on those startups that offer an innovative, high quality technological proposal with scaling potential. However, we always seeking to maximize the value of our support, we believe that we can best help startups that have developed a Minimum Viable Product and seek to validate their technology and consolidate its deployment in the market. 

    Throughout the different phases, experts in specific areas will evaluate, among others, the fit of the startup with the requirements of the program, the quality and level of technological innovation, the applicability and scalability of the technological solution, the viability of the business model, the current and potential social impact, the talent of the team and their ability to scale the company, and finally, the possibilities for the Foundation to design a high-value acceleration plan for the company.

  • The selection process takes place between April and June, in successive elimination phases, as follows:

    1. Initial filtering to validate the fit with the requirements of the program. 
    2. Analysis of the general proposal, the technological proposal and the challenge to which it provides a solution. Discussion between evaluators and the Entrepreneurs Fund team.
    3. Evaluation of the potential of the technology and its viability in the market by experts from our TechLab and Repsol Group businesses.
    4. An online interview to go deeper into specific aspects related to the technology, the business model and the potential of the start-up team.
    5. In those cases where it is considered necessary, the evaluation may include a visit to the startup's facilities by the Repsol Foundation team.
    6. Pre-acceleration phase: a working session with experts and the Entrepreneurs Fund team to help entrepreneurs present their project in the final phase.  This support includes the identification of the startup's needs, the preparation of a work plan proposal, definition of the pilot, objectives and milestones to be achieved in the event of being selected.
    7. Final phase: The finalists will have to present their projects and answer the questions of a jury made up of experts and leaders in the industry who will select the finalists to join the 2024 acceleration program.
  • As an accelerator focused on the energy transition and impact, we choose to concentrate our resources and the dedication of our acceleration teams on a small number of startups (between 6 and 8 per year), in order to design a tailor-made, high-value proposition for each of them, hence increasing their chances for success.

    The selection process is designed in such a way that it also provides value to the candidate startups. They have the opportunity to have their technology and business model constructively evaluated, as well as to interact with both technology and business experts (starting from the third phase of the evaluation process).

  • The acceleration process consists of implementing an ad hoc work plan defined jointly by the startup and the team from the Entrepreneurs Fund, with feedback from experts, aimed at covering the specific needs for the validation of the technology, refinement of the business model, and mentoring of the entrepreneurs. The work plan is associated with an action plan and a timetable.

    Technological validation is usually associated with the execution of a pilot project with Repsol, although no limitations are established for carrying it out with third parties.

    The work plan establishes the objectives pursued within the acceleration, the activities and intermediate milestones to achieve them, as well as the deliverables and indicators to measure their progress.

    As a result of the technological validation and mentoring process, it is common to identify new lines of work and/or priorities, so the initial work plan may undergo variations depending on events as progress is made.

     

  • We are aware of the variety of startups we receive in the program and the different needs they face. For this reason, we have a wide network of mentors and experts that allows us to offer tailor-made accelerations.

    As a general rule, the acceleration teams available to the startups are made up of:

    • An acceleration project manager on behalf of the Repsol Foundation. This person is your focal contact person for developing the workplan and organizing the acceleration. 
    • Two senior mentors, with managerial experience in energy-related businesses, responsible for large industrial projects and corporate directors, who have received training in startup coaching and mentoring. These are dedicated mentors with flexibility and availability to support startups.
    • Repsol's active professional mentors. They offer technological support, information, and market knowledge:
      1. An expert scientist from Repsol's technology area (TechLab).
      2. An investment expert from the Corporate Venturing area.
      3. In addition, depending on the case, a Repsol business expert may join the team to coordinate the pilot and provide feedback on the applicability of the startup's proposal to the market. 
      4. We also facilitate access to experts in social impact to maximize the capacity of our accelerated startups to generate impact. 

    The teams are designed by the Repsol Foundation, trying to select those experts with the ideal experience to respond to the acceleration needs identified by the startup. In any case, a certain flexibility is maintained to adjust the teams if, once the work has begun, the entrepreneurs deem it necessary to achieve the acceleration objectives. In our program, we understand that mentoring should be a satisfying experience for the mentors and a valuable resource for the founders.

     

  • The priority of the acceleration program is to help startups in their technological and business development, so as an accelerator, we try not to divert their focus or direct the use of their generally limited resources towards tasks that do not go in that direction.

    You are the ones who set the timetable for consulting mentors. At Repsol Foundation, we only ask that you attend the follow-up sessions and prepare a monthly report, which we believe is essential to meet the planned objectives and to be able to provide the best support and mentoring to you.

     

  • Startups shall work according to the agreed schedule and turn to mentors for advice and support on specific aspects of the defined work plan.

    The startup meets on a monthly basis with the acceleration team in order to follow up on topics such as planned milestones, focus of the work, tests carried out, difficulties encountered, priority areas for support, progress made, changes in scope and the necessary re-planning, definition of next steps, company finances, and reporting on the use of funds. During these sessions, the acceleration team provides feedback and recommendations to the startup.

    Often, when an area of work is identified that requires more in-depth mentoring, ad-hoc working sessions are organized to address specific issues.

    In order to get the most out of the monthly meetings, you are asked to share a report with the above information prior to the monthly meeting, which will serve to document the technological developments achieved, as well as the assumptions and tests used.

    The program is carried out remotely, it is not necessary to move from where you are located. You may only be asked to attend occasional sessions or meetings organized by us.

     

  • Repsol and its Foundation do not obtain any rights over the intellectual property of the startup by its admission to the acceleration program. 

    In the case of being admitted to the acceleration program, a convertible loan of up to €120,000 will be negotiated with the option for Fundación Repsol to enter the capital of your startup with an equity stake of between 5-10%.

     

  • Before starting the acceleration process, the startup signs two agreements with the Repsol Foundation. First, the Regulatory Agreement, which sets out the conditions under which the acceleration takes place, which includes commitments on both sides and the development of an agreed work plan. The startups commit to the following:

    • To be diligent in complying with their work plan and submit a monthly report and a closing report at the end of the acceleration period, describing the progress of the start-up and explaining any deviations from the initial plan.
    • To use the funding received in the development of the work plan, and to keep and present the records that the Repsol Foundation considers necessary for verification of spending.
    • To inform the Repsol Foundation of any other grant, concession, loan or subsidy received, as well as any offer received from investors and/or any foreseeable change in the startup's shareholding structure.

    Second, the Convertible Loan Agreement is signed, which sets out the terms and conditions of the convertible loan.

    In addition, startups admitted to our program must have a civil liability insurance policy, including labor liabilities if the startup has employees.

    If the conditions require it, the startup can sign an agreement with Repsol that regulates the development of the industrial pilot. Startups are not restricted from accepting, negotiating or rejecting such an agreement, and the outcome of the negotiation will not affect their status in the acceleration process with the Repsol Foundation.

     

  • The disbursements will be made in two tranches. The first tranche is delivered upon signing the Regulatory Agreement and the second during the acceleration, on a date to be negotiated and subject to a series of milestones to be defined for each startup. The amount corresponding to each tranche will be defined in a Convertible Loan Agreement.

    The milestones will be defined based on progress towards the technological and business goals defined in a work plan.