The Repsol Foundation has announced the six companies that will be joining its business accelerator, the Entrepreneurs Fund. This initiative was launched eight years ago in collaboration with Institut Cerdà. It supports innovative energy projects, with the aim of enabling them to get to market as soon as possible and, in this way, to contribute to meeting the challenges of the energy transition. Those selected will receive up to 144,000 euros of financial support and also training and business advice.

After an exhaustive evaluation and selection process by an expert jury six start-ups have been selected from among 649 proposals that were submitted in this eighth call of the Entrepreneurs Fund.

The selected projects will receive up to 144,000 euros for one year, with a possible extension for another year. In addition to the financial support, they will be accompanied during the acceleration stage by a team of mentors and will also receive technical and legal advice as well as specialised training appropriate to their needs. The startups will also have the possibility to test prototypes in industrial facilities and develop pilots in collaboration with Repsol professionals. This support does not imply any type of participation in the capital of the company or transfer of intellectual property rights by Fundación Repsol.

Selected Start-ups

The selected proposals stand out for their degree of innovation in the field of the energy industry and come from Canada, Norway and Spain.

  • Alerion Technologies (San Sebastian – Spain): intelligent drones with non-destructive technology (NDT) for inspection of industrial equipment and real-time data analytics.
  • ATOMSIM (Barcelona – Spain): B2B (business to business) platform to accelerate the discovery of new materials and chemical molecules.
  • Carbon Upcycling Technologies (Calgary – Canada): obtaining new quality materials and lower carbon footprint from CO2-derived discarded nanoparticles.
  • Compact Carbon Capture (Bergen – Norway): low-cost CO2 capture technology and compact engineering.
  • Linc World (Madrid – Spain): hardware and software solution to improve energy efficiency in any building.
  • Orchestra Scientific (Tarragona – Spain): production of highly selective CO2 membranes.

A remarkable aspect of this eighth call of the Entrepreneurs Fund is the high degree of internationalisation. About 50% of proposals were received from outside Spain, which represents an increase of 25% compared to 2018. Projects were received from 60 different countries and most notably from Canada and Norway.

Another highlight of the eighth call has been the maturity of the start-ups presented, with 55% in the pre-commercialization phase or even in an incipient sales stage. The Entrepreneurs Fund is ideal for these companies that are one or two years away from the market because they are at a development phase, when they have a technology or business model tested in a controlled environment, where they can benefit most from the type of help offered by the fund.

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