Have you heard about the Startups Acceleration Program? If you are an entrepreneur and you are currently in Spain, you can’t miss this initiative promoted by the Government. So, read on and find out more details about it!
Startup Acceleration Program
The Ministry of Industry, Commerce and Tourism recently published in the Official State Gazette the regulations linked to a new Startup Acceleration Program, whose main objective is to boost the growth and development of startups present in Spain.
In this sense, the aim is to provide personalized advice and continuous training to those involved in projects and ventures in the country.
The initiative is part of the Recovery, Transformation and Resilience Plan, and has a planned investment of 42.8 million euros, with the Escuela de la Organización Industrial (Fundación EOI) managing the grants to the entrepreneurs and startups involved.
In this regard, the rules governing the Startups Acceleration Program plan to support at least 6,100 startups before the end of 2023. And, for the moment, it has been announced that this will be carried out in 3 phases:
A training program
An acceleration program
The search for financing and connection with the business network.
The individualized advisory service will be provided by entities with experience in the sector to be addressed, in order to efficiently promote the development of entrepreneurs, both regionally and sectorially.
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Startups Acceleration Program performance
As we have already mentioned, the program will be developed on a regional or sectoral basis. What does this mean, you may ask? Well, it means that there are two types of actions:
The first corresponds to the development of regional acceleration programs, which will be supported by the different Autonomous Communities and adapted to startups belonging to sectors defined in the Regional Smart Specialization Strategies.
The second type of action refers to sectoral acceleration programs that have national coverage and are focused on the 10 driving sectors set out in the Spain Entrepreneurial Nation Strategy. In other words:
Cultural and music industries
Construction and materials
Energy and ecological transition
Banking and finance
Digital and telecommunications
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Other related programs
In addition to the Startup Acceleration Program, it is important to highlight the development of the Female Entrepreneurship Attraction Program in Spain, both of which contribute to the development of the business fabric and innovation in the country.
The latter is also part of the Recovery, Transformation and Resilience Plan and seeks to help 833 European women entrepreneurs to give visibility to their ideas within the current entrepreneurial ecosystem.
In addition, it was announced that the Escuela de Organización Industrial (EOI) is developing a program known as Activa Startups as part of the C13.I2 investment, which aims to promote Spanish open innovation and offer assistance to project representatives to get their ideas off the ground.
With regard to the strategies of each Autonomous Community, we are faced with the presence of various grants of up to 40,000 euros for SMEs and startups. Initially, the first calls are aimed at the Basque Country, Murcia, La Rioja, Catalonia, Castilla-La Mancha and Extremadura.
It is important to mention that these programs are aligned within the Strategic Framework SME Policy 2030, and the Spain Digital Agenda 2025; which makes it clear that there is a long-term perspective of effort and work to promote the Spanish territory as a business and growth territory in the SME sector.
The Startups Acceleration Program is a reflection of the fact that entrepreneurial projects are, nowadays, highly valued worldwide and Spain recognizes this by supporting them not only financially, but also through training programs.
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However, if you are still hesitating to start your own business in Spain, at TAS Consulting we accompany you in every step you need, whether you are a foreigner or already legally resident in the country. Do not wait any longer and schedule your first free consultation through our website!
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