Startup Capital

By project DeepTechValleys

Published on 26 September 2024

Spain

Cataluña

About this good practice

Deeptech companies are built on a solid technological and scientific foundation, aiming to generate impact. Nowadays, technology is changing constantly, and risk and disruptiveness motivate these companies to compete in the market. However, they often face slow scalability and require long-term funding, which can be a barrier. This program’s mission is to support such startups by helping them access early rounds of private financing.

Through the program, companies are given up to €100,000 to finance key measures, from the administration and management of company operations to the development and marketing of products and services. Justifiable expenses include personnel costs, investments in materials and sites, leasing of space, and production of communication strategies, among others.

Not only this project aims to grant money to the awarded startups, but also includes the support and counselling of professionals and mentors during a period of time. Meanwhile, master classes about financing and management (like a Deeptech Bootcamp) are organized and companies are invited to attend to events (like 4YFN and Mobile World Congress) which can be great opportunities to create synergies and get to know other companies and future investors.

Resources needed

The Catalan government’s annual budget is €2M, providing €100,000 per startup (with €99,000 for funding and €1,000 for training by an ACCIÓ-accredited mentor).

Each year, 20 startups are awarded.

Multiple ACCIÓ departments are involved, including funding, innovation, marketing, and events.

Evidence of success

Between 2017 and 2023, 152 deeptech startups have received support from this program, totaling €12.4M. Two notable examples are Roka Furadada and Keybotic, both awarded €100,000.

Roka Furadada aims to reduce skin cancer and UV-related diseases, winning several European grants and targeting international markets. Keybotic develops robotics to enhance safety and productivity, also securing European funding.

Both startups have made significant strides since receiving ACCIÓ support.

Potential for learning or transfer

This program can be an example and can be transferred to other regions to promote technological progress and disruptiveness.

Why is it a good practice?
•Clear and specific niche: the grant is only given to deeptech startups in need for early-stage financing.
•Grant amount: 100.000€ can be very useful to set up a new business.
•Multiple sectors: the startups granted can be working in completely different fields.
•Funding coverage: the justifiable expenses covered by the grant considers multiple aspects of a company development as personnel costs, materials, marketing, etc.