Rising StartUp Spain program (ICEX): published definitive list of selected applications
The ICEX has just published the definitive list of selected applications for “Rising Startup Spain Program 2017”. This is a program aimed at foreign Startups and entrepreneurs who contribute to fostering entrepreneurial activity in Spain through scalable and innovative projects.
This is a until nine month program from the start of the incubation period. It offers the following support services for Startups:
• Free workspace in Madrid and Barcelona, two hotspots for Startups
• Prize money of €10.000 to cover initial Startup expenses
• Easier access to Visa and Residence permits
• Instrumental Mentoring to help you connect with potential investors
To take part in the program, foreign Startups established in Spain must meet the following requirements:
– At least 10% of the start up’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.
– 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.
The maximum level of assistance is 10,000 euros per beneficiary. To receive this assistance, the Startup must incur minimum costs of 20,000 euros between the time at which the assistance is awarded and the end of the 6 month incubation period. These costs must include at least two of the following: Costs of constituting the Startup in Spain and feasibility studies.
Purchase and hire of technology and industrial equipment, instruments and/or material, Staff costs. Acquisition and registration of licenses, patents and trademarks. Technological consulting. Promotional expenses. Travel of company staff related to the company`s activity to attend events, courses and visits to customers and investors.