New call for proposals for the Entrepreneurs Fund
Fundación Repsol is initiating the 8th call for proposals for the Entrepreneurs Fund, an accelerator program to support the best startups offering innovative solutions in the scopes of energy and chemical industry, advanced mobility and the circular economy.
Entrepreneurs who are interested in taking part can submit their proposals until 4th March 2019 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 in the shortest possible time. 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 144,000 euros a year in funding, in addition to specialized training and mentoring from a team of mentors. In addition, the entrepreneur teams will be able to reach the Repsol experts and even develop tests at the energy company's facilities.
This support is equity-free, and it does not imply any transfer of shareholding or intellectual property of the company.
The acceleration has a duration of one year, which may be extended for a second year with the same conditions.
In addition, the Entrepreneurs Fund has a way of supporting startups that need more development time, the Ideas category. In these cases, the Foundation offers 2,000 euros per month for 12 months, in addition to the same mentoring and training received by the rest of the more mature projects
Who can participate?
The call is intended for small and medium-sized businesses, but participation is also open to people who have not yet formed a business.
The Entrepreneurs Fund is a global initiative open to entrepreneurs from all over the world, since it is not necessary to travel to a particular workplace on a continuous basis.
Fundación Repsol's accelerator supports startups that work on innovative solutions in different scopes:
- Better efficiency in the energy and chemical industry.
- Digitalisation and mobility, with innovative proposals that create more value for people.
- Circular economy and biotechnology.
- New materials for the energy and chemical industry, construction, home, or transport.
- Distributed energy resources.
- New oil and gas exploration and production technologies.
The Entrepreneurs Fund in figures
Through the Entrepreneurs Fund, Fundación Repsol seeks to effectively support entrepreneurs whose innovations contribute to building a more sustainable energy model.
In its seven editions, the Entrepreneurs Fund has accelerated 48 startups, which in turn have raised more than 20 million euros in investments and funding and registered more than 100 patents.
The Entrepreneurs Fund has received more than 2,700 proposals since its creation in 2011. The startups selected in this call for proposals will be announced in July, 2019.
Last year, a total of seven startups were selected that stood out for their innovations in the areas of the call. One of them came from Portugal, another one from the US and the rest from the Basque Country, Catalonia, and Cantabria (Spain).
For more information and to read the terms and conditions, please visit fundacionrepsol.com.