Repsol selects eight energy efficiency projects in the second edition of its Entrepreneurs' Fund
Friday, Jul 26, 2013
The Minister for Employment and Social Security, Fátima Báñez, and the Chairman of Repsol and its Foundation, Antonio Brufau, today presided the presentation of the projects selected in the second edition of the Entrepreneurs' Fund.
Fundación Repsol has selected eight projects in the second edition of the
Entrepreneurs' Fund, designed to support the best business projects offering energy efficiency and saving solutions.
After their selection, these eight projects will begin the incubation process, for a maximum of 24 months, during which the Fund will provide technological, business and legal advice coordinated by a team of mentors, as well as financial support ranging from 6,000 to 12,000 euros a month. All of this will enable the winners to develop their project, adapting them to the needs of the market in order to make their companies more attractive to investors.
The Entrepreneurs' Fund has also decided to support two more projects with financial aid of 2,000 euros a month, in order to help them reach the maturity they need to begin the incubation process.
For their development and consolidation, the selected initiatives will have the use of the infrastructure of the Repsol Technology Centre and other centres and institutions, and Fundación Repsol will coordinate the process. The entrepreneurs will also be advised by Repsol's operational departments and have the external support they need to reach their goals. They will also have easier access to the market and the
business contacts needed to enter the commercial phase.
Antonio Brufau said that the Entrepreneurs' Fund is an especially important asset for Repsol, not just because it helps meet the energy needs of the future, but for its support for social development through funding R&D and the entrepreneurial spirit.
SIGNING UP TO THE 2013-2016 YOUTH EMPLOYMENT AND ENTREPRENEURSHIP STRATEGY
During the event, the Ministry for Employment and Social Security and Repsol signed a partnership agreement whereby the company joins the Ministry's 2013-2016 Youth Employment and Entrepreneurship Strategy.
The Youth Employment and Entrepreneurship Strategy seeks to make it easier for young people to join and to improve their situation in the job market. This is an open instrument to which Repsol adheres in order to contribute with its own initiatives to facing the challenge of youth employment. During the event, Fátima Báñez gave Antonio Brufau the seal accrediting the company's commitment to youth employment and entrepreneurship.
With the signature of this agreement, Repsol reinforces its commitment to job creation and the development of new talents, which in the last five years has resulted in 3,500 new jobs and 1,600 grants.
SUCCESSFUL SECOND EDITION, THE THIRD EDITION IS OPEN
In this second edition of the Entrepreneurs' Fund, 479 projects were received, 95% of them from Spain (proposals came from all 17 Autonomous Communities).
There were many different types of project covering every aspect of energy: prospecting, production, generation, transport and distribution and end use. The largest group of ideas, 44% of the total, related to renewables.
During the event, the opening of the third edition of the Fund was announced; this will incentivise energy efficiency and bioenergy, and will be open until 15 November 2013. This new edition will increase its scope to also support research, development and concept tests of new ideas. These projects will be supported by 2,000 euros a month for one year.