Repsol and Fundación Repsol take part in the Spain Startup & Investor Summit 201409.10.2014
- The purpose of this meeting is to promote entrepreneurship in Spain.
- Repsol and its Foundation are helping Spanish startups and supporting entrepreneurs in the energy sector by way of its Emerging Business Division and the Fundación Repsol Entrepreneurs Fund.
- Vortex, Ledmotive, Powertrack, Focus and Ecomesh are the Fundación Repsol Entrepreneurs Fund projects that have been placed among the hundred finalists from the 3,000 proposals submitted to the competition.
Repsol and its Foundation are taking part in the Spain Startup & Investor Summit 2014, which is a forum for Spanish and international investors and entrepreneurs being held in Madrid on 8, 9 and 10 October.
Repsol and its Foundation take part in this meeting for entrepreneurs to discover and promote the entrepreneurial skills and abilities needed to launch business initiatives in the energy sector.
Repsol and its Foundation will have several stands at the Spain Startup & Investor Summit 2014, which will enable visitors to find out about the Company's activities in this field and some of its most representative projects.
Vortex, Ledmotive, Powertrack, Focus and Ecomesh are the Fundación Repsol Entrepreneurs Fund projects that have been placed among the hundred finalists from the 3,000 proposals submitted to the competition. Each one of the finalists will have the opportunity to give a lecture on their project, thus presenting it to the people attending.
On 9 October, the Repsol's Head of Emerging Businesses, Íñigo Palacio, participated in a lecture, during which he presented one of the startups in which Repsol is investing through the INNVIERTE programme with the CDTI. The company is called Scutum and is dedicated to designing, manufacturing and marketing electric scooters, strengthening its commitment to electric mobility.
Part of Repsol's strategy involves promoting new energy initiatives that will help to achieve a more diversified and less carbon-intensive energy supply. This is why it is keen to encourage entrepreneurship and help entrepreneurs in the energy sector via Emerging Businesses and the Fundación Repsol Entrepreneurs Fund.
The aim of the Fundación Repsol Entrepreneurs Fund is to help talent flourish and to encourage the development of innovative business projects that will make the entire energy chain more sustainable and boost Spain's economic development and competitiveness.
Closing on November 15, the fourth call for proposals of the Entrepreneurs Fund, which supports innovative energy efficiency and energy projects, is expanding its scope to also include projects involved in researching, developing and concept testing new ideas.
In turn, Emerging Businesses is Repsol's venture capital unit whose aim is to take a stake in innovative and technological startups that offer disruptive technology and complement Repsol's businesses.
As a result, in 2012 Repsol and Innvierte Economía Sostenible signed an agreement to jointly invest 21 million euros for undertaking joint investments in Spanish SMEs over the next five years. The purpose of these enterprises will be to develop innovative technological initiatives in the bioenergy, renewable generation, electric mobility, energy storage and energy efficiency sectors.