Who can Apply?
The program is targeted to foreign startups, foreign entrepreneurs and non-resident Spanish entrepreneurs that have an innovative project with an already positive feedback from the market. The winning projects will have to constitute a company in Spain at the start of the program; if the company is already constituted, it cannot be older than one year.
To take part in the program, foreign startups established in Spain must meet the following requirements:
1. At least 10% of the startup's capital must belong to a foreign natural person or legal entity, or a Spanish non-resident provided that he/she is a natural person.
2. The startup must be formed or in the process of being formed when the assistance is granted. If the company has already been formed in Spain, it must be less than one year old.
A panel of experts from the Spanish entrepreneurial ecosystem will assess the projects to enter the competition. The evaluation will be conducted in accordance with the selection criteria listed below:
The projects will be chosen by 4 criteria:
· The technology the project incorporates and the extent to which it is disruptive (25%)
· The business plan and its economic-financial feasibility (25%)
· The product validation and growth potential (25%)
· The management team (25%)