Do you have an innovative project in the field of energy industry, mobility or circular economy? If yes, then you can submit your application to the 9th call for proposals of Fundación Repsol’s “Entrepreneurs Fund”, a business accelerator aimed at startups related to the energy industry and advanced mobility.
The Program support innovative startups working in solutions for the energy industry, new mobility and the circular economy, contributing to a more sustainable energy transition.
This program aims to accelerate startups working in any of the following scopes:
- Circular economy. Recycling and reuse of waste and reduction of greenhouse gas emissions in the energy and chemical industry. Technologies for plastic-to-fuel/plastic conversions and to produce biofuels, green hydrogen and biodegradable plastics.
- Technologies to obtain or use materials of greater added value or higher performance in the chemical industry, such as light-weighting solutions that fuel sustainable mobility, or packaging innovations.
- Technologies disrupting the current energy market and mobility space, such as energy storage, innovative electric charge solutions, bidirectional vehicle to grid charging technologies, new technologies or business models associated to the connected car and the autonomous car.
- Efficiency in operations in the oil and gas industry (exploration, production, refining, petrochemicals) aimed at improving safety, reliability and availability of industrial sites.
- Up to 120,000 euros/year
- Startups admitted in their program receive €5,000 a month (€60,000 along the year) for “ordinary” expenses.
- Startups can also apply for another €60,000 additional funds for “extraordinary” expenses.
- Program strategy is to concentrate their resources in a small number (6-8) of meticulously selected startups to which they give up to 240,000 euros in up to 2 years.
Financial contribution of Fundación Repsol
- Startups admitted to the Program will receive during the acceleration period a contribution of FIVE THOUSAND EUROS (€ 5,000) per month as ordinary funds.
- Additionally, admitted Startups may request up to a maximum of Sixty Thousand EUROS (€ 60,000) per year as extraordinary funds for strategic expenses to achieve the milestones of the Work Plan.
- The disbursement of this additional contribution will be subject to the exclusive decision of Fundación Repsol.
This Program is ideal for Startups that are close to reaching the market with innovative technology and/or business model solutions that have already been sufficiently demonstrated at the laboratory or other controlled environment.
- This Call is addressed to startups in pre-commercial or very early commercial stage with founders maintaining control of the company, that is, the majority of the share capital and voting rights, and therefore leading the startup’s financial and business decisions.
- Startups can have their registered office in any country. It is not necessary to move to any specific country.
- Repsol Group and Repsol Foundation employees may participate in this Call provided that the startups they promote are not directly related to the responsibilities of their current or previous positions at the Company.
- The applicants grant Fundación Repsol the right to evaluate the applications by itself or by the evaluators and judges it may appoint.
- The selection will take place between the months of March and June 2020, in successive phases. At the end of each phase, applicants will be informed if they continue or not in the selection process.
- The penultimate selection phase includes a visit by a member of Fundación Repsol’s team to each of the startups and a work session with recommendations for the startup to support its candidacy, including a Work Plan with milestones to be achieved in the acceleration period.
- Finalists will be announced in June and they must present their candidacies in Madrid before a Jury in charge of choosing the startups admitted to the 9th acceleration program. Travel and stay expenses in Madrid for one person per startup will be covered by Fundación Repsol.
- The Jury may decide to leave the Call void when it considers that the applications submitted do not meet the expectations and/or objectives of the Repsol Foundation.
- Last year, Repsol Foundation granted 9.5 million euros to social projects in the areas of education, integration of socially vulnerable groups, culture, science, employee volunteering and entrepreneurship.
- This accelerator program is one of Repsol Foundation’s flagship projects. Their mandate is to contribute to the energy transition process by supporting pre-commercial startups with high impact potential.
- Repsol Corporate Venturing manages a €85 million fund to invest in commercial-stage startups around the globe. They look at some 600 startups a year aiming at investing in some four to six of them.
How to Apply
Applicants can apply via given website.
For more information, visit Entrepreneurs Fund.