We launch the 10th Call for proposals for the Entrepreneurs Fund14.01.2021
Those entrepreneurs who would like to apply can begin presenting their projects today until March 3, 2021 by filling out a form available on the website, fundacionrepsol.com.
Each year, the Entrepreneurs Fund supports between six and eight different companies in the pre-marketing phase, giving them the boost they need to enter the market as soon as possible. They are common in that they are all developing innovative ideas that contribute to a more sustainable energy transition.
The projects that are chosen will receive financial support of up to 120,000 euros for a year, guidance from a team of expert mentors that will accompany them throughout the acceleration phase. When possible, these startups can also test prototypes in industrial facilities and develop pilot tests in collaboration with Repsol professionals. This support does not imply that the Repsol Foundation buys into company shares nor will the company need to cede any intellectual property rights to the Foundation.
The acceleration process has a duration of one year, beginning in September 2021.
Who can participate?
The Repsol Foundation call for proposals is open internationally to small and medium-sized technology businesses in their pre-marketing phase that work on innovative solutions in the following areas:
- Low carbon emission technologies and the circular economy.
- Biotechnology for sustainable energy solutions.
- Products and services based on renewable energy and advanced mobility.
- Digital technology for optimizing assets in the energy industry.
- Nanotechnology solutions for optimizing assets in the energy industry and improvement in product properties.
Committed to innovation for the energy transition
The Entrepreneurs Fund is part of the Repsol Foundation's strategy on energy transition and society and responds to Repsol and its Foundation's commitment to innovation and technology as keys for combating climate change.
Through its acceleration program, the Foundation seeks to effectively support entrepreneurs whose innovative ideas contribute to making the energy transition more sustainable. Since its start in 2011, a total of 60 startups have already been supported. Likewise, these companies have received more than 90 million euros of public and private financing, have created 330 new jobs, and have reached a success rate of 76%, which is especially high for the industrial sector.
Additionally, the Repsol Foundation's investment fund, Repsol Social Impact, supports the development of companies that work toward energy transition and that also generate employment opportunities for groups at risk of social exclusion. With funding of 50 million euros, it is the largest investment fund in Spain in the fight against climate change; and its goal is to become a leader of impact investment in Spain and Portugal.
Repsol Social Impact has already invested in: Grupo Sylvestris, dedicated to reforestation; Koiki, working in sustainable last-mile distribution with parcel delivery by vulnerable populations; GNE Finance, specialized in environmentally-sustainable urban rehabilitation in vulnerable neighborhoods; SAEMA, focused on the recovery and recycling of plastics and other packaging; and together with Ilunion, in Recycling4All, specialized in the large-scale industrial recycling of electric and electronic devices.