100+ Spanish startups respond to global industry challenges set by 13 corporations

- April 3, 2018

Heeding the call of the ANCES Open Innovation challenge to provide solutions pressing global issues, over 100 Spanish startups will compete for cash prizes and potential partnerships.

The ANCES Open Innovation challenge aims to provide solutions to “trending topics in our global economy, such as digitalization, industry 4.0 or circular economy; as well as new models of relationship between clients and customers (big data, fintech, renewable energies, etc.).”

Some 107 startups in Spain have responded, and the finalists will be announced on April 6.

Those who make the cut will then head over to the final event on April 19 at the BBVA Open Space in Madrid.

The challenges were set forth by 13 major corporations in Spain in order for startups to provide services or products that meet specific criteria for each of the 13 corporations.

Each of the 13 corporations will select the three solutions that they consider most appropriate, and those startups will have the opportunity to defend their proposals in the final event. The winning proposal will be decided on each challenge.

The winner will receive a prize of €500 and the possibility of continuing the relationship with the corporation that laid down the challenge.

The 13 big corporations that came up with the challenges include:

  • Aertec
  • BBVA
  • BSH
  • Estrella de Levante
  • Euskaltel
  • Iberdrola
  • Iberostar
  • Gonvarri
  • Grupo Huertas
  • Soltec
  • SPC
  • Vegenat
  • Sacyr

Together, these companies represent diverse sectors such as industrial, finance, transport, agrifood, and tourism, so each challenge issued is aimed at providing solutions in these areas.

According to Cristina Fanjul, vice-president of ANCES and coordinator of the program, the presented challenges represent a sample of the young Spanish entrepreneurial talent that comes with creativity and innovation.

Fanjul is also an expert evaluator at the international SME Instrument, Horizon 2020, which is the biggest EU Research and Innovation program ever with nearly €80 billion of funding available over 7 years (2014 to 2020) – in addition to the private investment that this money will attract.

The ANCES Open Innovation challenge is an initiative of the Asociación Nacional del CEEIs – ANCES — and 13 companies for the development of an innovative program.

It is also part of a context of open innovation, allowing more established companies to interact with the entrepreneurial ecosystem and advance their technological challenges.

This association started its activity at the European Business and Innovation Center of Malaga BIC Euronova more than 20 years ago and has a team of more than 550 expert professionals spread across its offices in Spain, the United Kingdom, Portugal, Colombia, and the United States.

Tim Hinchliffe

Tim Hinchliffe the editor in chief at Novobrief. Previously, he was a reporter for The Ghanaian Chronicle in West Africa, and Colombia Reports in South America. Principal at Espacio.