BStartup 10 is an initiative of Banco Sabadell to provide robust support for 10 technology startups selected across Spain in establishing themselves in the market and growing:
10 projects a year will be selected, from all over Spain and in 2 rounds.
At each call we select 5 companies from among all those submitted. We invest €100,000 in each one. BStartup takes a holding of between 5 and 15% of the share capital. The investment is in part in cash (€70,000) and another part in kind (high performance program valued at €30,000).
At Banco Sabadell, a multidisciplinary team of BS Capital, Innovation and BStartup will work with you from day one to help you develop your business. And we have the collaboration of the Inspirit team, led by the successful entrepreneur Dídac Lee (named by the Founder Institute as Best European Mentor).
This team of professionals who are experts in business management, company building and fundraising will accompany you for 6 months on an intensive, customised High Performance Program that aims to consolidate and grow your startup.
And we will also study potential synergies between the products of all the Startups submitted and the innovation processes of the Bank to include them in our Open Innovation strategy, if it is in the interests of both parties. We could also become your client, as we are for many other Startups.
We have prepared a high performance program that will adapt to the key areas of your startup: product, sales development, team, funding. Focusing more on where there exist most deficiencies. We help you with the “company building” process.
- Validation of the product and definition of the development roadmap.
- Business training and seeking out clients.
- Support in recruiting.
- Accompaniment during round A of the fundraising process.
- Preparation for presenting your company to investors.
- Introduction to business angels, family office and venture capital.
- Support in arranging the investment, assistance in preparing and signing the shareholders’ agreement.
- Access to a network of important contacts.
Note: The program is based in Barcelona and therefore the selected companies transfer to this city for the work sessions every 15 days approximately. Strong focus on customisation and flexibility with daily follow-up.
Don’t forget to read the conditions that your company must meet to enrol in the program.
The items considered during the selection will be:
- The Company’s target market
Size of the market. Is it a solution that can be globally scaled up? Is it a growth sector?
- Competitive advantage.
Has the company designed an innovative, disruptive business model that is sustainable over time? Are the growth expectations of the business plan aligned with the market and competitive environment?
- Validation in the market and/or traction
Have they confirmed the initial market validations in terms of customers, metrics, investors, alliances, recognition…?
- Competencies of the founding and management team
We are seeking persons with the necessary talent and attitude to achieve success.
- Impact of the high performance program.The capacity for maximising the BStartup program for its characteristics and the momentum of the company.
21 December 2014
Close of call for submission of projects
End of January 2015
Announcement of the 25 semi-finalists
Start of February 2015
Announcement of the 10 finalists
Announcement of the 5 companies selected and High-Performance Program Kick off
- Startups from the digital/internet environment, focussed on business development in e-commerce, Mobile Applications, Social Platforms, Cloud, Big Data, IoT, Security, B2B software, matters relating to the financial sector, etc.
- Innovative product or business model.
- The company must be incorporated (inside or outside Spain).
- They must have at minimum an operating prototype to support the business idea and sales or potential clients will be positively valued.
- The product may not have been commercially active for over 24 months
- Scalable model that seeks a global impact.
- Entrepreneurial and team capacity to undertake the international expansion and development of the company.
- You must have at least one full time employee and preferably a paid team engaged in managing the business.
It will be valued if it has already received financing from private investors, business angels or similar. BStartup will enter the seed capital round and prepare the project to proceed to the following financial round. BStartup is open to co-investment with other investors.