We already know the new startups of Entrepreneurs Fund

20.09.2017
We already know the four ideas and the four selected projects that will be part of the Entrepreneurs Fund.

This initiative, which is already in its sixth year, aims to offer support to the most innovative energy and mobility projects so they can get on the market as soon as possible.

The presentation event was held on Repsol Campus and was attended by Antonio Brufau, Chairman of Repsol and of Fundación Repsol, and Ignacio Egea, Vice Chairman of Fundación Repsol.

The eight start-ups which will take part in the sixth edition of the Entrepreneurs Fund were chosen from the 354 proposals presented. Eleven finalist proposals made it through the rigorous evaluation and selection process. A jury then chose the eight most innovative applications — four in the projects category and another four in the ideas category.

The projects that are about to begin the acceleration programme will receive up to €144 000 over a 12-month period, and ideas will get €2000 per month for a year. Furthermore, the projects and ideas will have the assistance of a team of mentors who will support them during the acceleration stage, in addition to technical and legal counselling, specialised training adapted to their needs, and access to potential investors.

Selected ideas and projects

All the selected projects stand out for being particularly innovative in the fields of efficiency, digitalisation, and new materials in the energy and chemical industries; distributed energy generation and storage; and mobility.

The Entrepreneurs Fund separates projects into two categories based on type of support needed: one for ideas which need to undergo a maturation process and are awaiting validation of the proof of concept, and another for business projects that have a validated business model or technology, but have not yet fully entered the commercial phase.

The selected proposals come from both Spain and other countries. The lucky winners are

Ideas:

  • Bulgeone (Cantabria, Spain): the first tool to predict and discover in real time any possible bulging in refinery coker units. Currently, there is no tool that can perform this task, which means maintenance shutdowns are necessary.
  • Finboot (Barcelona, Spain): a digital platform to automate bank transactions, using so-called smart contracts. It allows contract execution to be verified automatically, simplifying the load on today's financial systems. 
  • Inanoenergy (Portugal): autonomous microgenerators that convert residual energy into electricity, more specifically to power sensors that monitor piping networks in industrial facilities.
  • Manganese Flow Batteries (United Kingdom): ultraefficient, manganese-and-hydrogen-based batteries that provide energy for longer at a lower cost.

Projects:

  • C2C-New Cap (Portugal): metal oxide superbatteries for energy storage, which allow larger amounts of energy to be stored more safely.
  • CE-BOND (Norway): a device to improve the integrity and safety of gas and oil wells by ensuring correct cementation.
  • Muon systems (Bilbao, Spain): A muon tomography system that allows blast furnaces and combustion equipment to be serviced without stopping production. This initiative received support from Fundación Repsol as an idea in the previous edition.
  • Place to plug (Tarragona, Spain): a unique, collaborative platform for the management and use of electric car charging stations. This online platform allows drivers to locate and activate both public and private charging stations from their mobile phones.

The Entrepreneurs Fund in figures

As part of its commitment to a more sustainable energy future, Fundación Repsol launched the Entrepreneurs Fund in 2011 with the aim of encouraging talent and supporting the best sustainable technological solutions in the energy and mobility fields. 

Since its launch, it has accelerated 36 start-ups, to which we can add the eight newly selected initiatives. All together, the accelerated companies have received almost €16.5 million in public and private investment and have created over 140 prototypes. In 2016, their collective turnover was more than €2 million.

The fund has received more than 2350 proposals over the six editions.

More information in fondoemprendedores.fundacionrepsol.com.