The Fund of Entrepreneurs, presented last week by the Chairman of the Repsol Foundation, Antonio Brufau and its Vice Chairman César Gallo, is, says the foundation, “a step forward in the Foundation’s commitment to meet the concerns and expectations of society regarding energy and the environment”. The project is being developed in collaboration with the Cerdá Institute.
The Chairman of the Repsol Foundation, Antonio Brufau, pointed out that “it is the first private fund created to promote enterprising initiatives concerning energy saving and responsible use of energy and the transformation of these into business projects that generate economic activity”.
The call for projects will be open until 30 November and marks the beginning of a selection process in which five of the best enterprise projects and company plans relating to energy efficiency will be selected to be carried out in Spain.
Those who are selected will be given advice (technical, financial and legal) as well as financial support through a tutoring process which will begin once the winners have been publicly announced. As part of the process, they will be provided with market contacts and access to investment capital.
The aim is to attract business proposals and innovative projects focused on the development of the following: new processes, technologies, services, products and materials, storage technology, the operation of energy distribution and transport networks, and IT. When applied, these should result in improved energy efficiency and/or savings in energy consumption.
Each of the five projects chosen will receive technical, legal and financial advice and tutoring as well as a monthly allowance. The latter will depend on the project, but will range from 6,000 to 12,000 euros during the time necessary to complete, up to a maximum of 24 months. The process will be completed by providing access to potential investors to finance the development of the project.
The process of development and consolidation of the projects selected will be coordinated by the Repsol Foundation and will benefit from the capabilities and infrastructures at the Repsol Technology Centre and other private centres; the advice of the company’s operating areas, as well as the outside support needed to achieve the defined objectives. Those taking part will also be provided with access to the market and the business contacts needed to boost the marketing phase of consolidated projects.
Apart from creating economic activity, Repsol intends for the business projects sponsored by the Repsol Foundation Fund of Entrepreneurs “to provide added value, create employment in Spain, and to improve the sustainability of the Spanish economy and its ability to compete”.
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