“Rising Up in Spain” – an acceleration program has been announced to attract talent and international entrepreneurs to Spain, created and managed by ICEX-Invest in Spain, whose mission is to contribute to reinforce and internationalize the entrepreneurial ecosystem in Spain.
The purpose of this call is to select fifteen (15) startups to participate, aimed at foreign entrepreneurs and startups who contribute to increasing entrepreneurial activity in Spain.
The Program will be run by ICEX-Invest in Spain in collaboration with the public and private sector to complement the offer of services for foreign entrepreneurs and startups interested in developing their projects in Spain.
The goals of the program are:
- To promote Spain and the Spanish entrepreneurial ecosystem internationally.
- To help attract talent and innovative entrepreneurial projects to Spain.
- To enable the return of Spanish entrepreneurs engaged in projects abroad and provide mechanisms for collaboration between Spanish and foreign entrepreneurs.
- To capture international funding for innovative entrepreneurial projects and increase specific investment opportunities in activities with high-added value in Spain.
The Rising Up in Spain is a program that will offer the following services to the startups participating:
- A specialized acceleration program delivered by an experienced accelerator and adapted to the needs of each startup.
- Access to a broad network of investors.
- Free workspace for six (6) months in leading incubators.
- Assistance in the process of creating the company in Spain (soft landing) with support in areas such as the formal constitution of the company, tax and labor assessment, etc.
- Visibility in media specializing in entrepreneurship.
- Support to attend investment forums specializing in obtaining finance for startups.
- Support to obtain visas.
The requirements for the startups participating in the Program:
- Participation in the Program with access to the services will be open to those foreign startups that intend to set up as a company in Spain and meet the following requirements:
- In the event that the startup has not yet constituted a company in Spain: At least 10% of the capital for the startup should belong to a foreign natural person or legal entity, or a Spanish non-resident provided that he/she is a natural person.
- In the case of a foreign startup, defined in accordance with section a), that already has a company constituted in Spain, this company may not be more than one (1) year old on the date of publication of this call.
- Participating startups should not find themselves in any of the following circumstances on the date of publication of this call:
- Having been convicted by final judgment to the penalty of the loss of eligibility for public subsidies or aid, or for corruption, bribery, and embezzlement of public funds, the exercise of undue influence, fraud and illegal collections or urban planning offences.
- Having filed for voluntary bankruptcy, having been declared insolvent in any procedure, being declared bankrupt, unless this has been acquired by means of a convention, being subject to judicial intervention or having been disqualified pursuant to Royal Legislative Decree 1/2020 of 5 May, through which the reworded text for the Bankruptcy Act is approved, and be within the disqualification period established by the insolvency decision.
- Having given rise, by being declared guilty, to the definitive termination of any contract entered into with a public administration.
- The physical person, the administrators of the corporations or those that legally represent the other legal individuals must not be involved in any of the circumstances of Law 3/2015 of March 30, of regulations on the exercise of Government or senior officials in the Administration, or Law 53/1984 of December 26, regarding incompatibilities of personnel in the service of the public administration, or be involved in any of the elected positions regulated by Organic Law 5/1985 of June 19, from the General Electoral System under the terms set forth therein or in the regional regulations governing these matters.
- Not being up-to-date with tax or Social Security payment obligations imposed by provisions in effect, as determined by regulations.
- Having tax residence in a country or territory legally classified as a tax haven.
- Not being up-to-date with the payment obligations due to the reimbursement of subsidies under the terms set forth by the regulation.
- Having been sanctioned by a final decision with the loss of the possibility of obtaining subsidies in accordance with General Law on Subsidies 38/2003 of 17 November or as established by any other legislation.
- Non-involvement with any of these circumstances should be maintained throughout the time the Program is underway. Any involvement after the company has been accepted for the Program will just cause for them being expelled.
For more information, visit https://www.investinspain.org/invest/en/rising/index.html