A range of energy companies have helped form an initiative called Positive Energy+ to support Spain-based startups that have been affected by the Covid-19 pandemic.
Domestic energy utilities Red Eléctrica, Enagás and Iberdrola are participating alongside infrastructure and energy conglomerate Acciona, petroleum supply services provider CLH, UK-headquartered oil and gas supplier BP and EIT InnoEnergy, an energy investor backed by the European Institute of Innovation and Technology.
The companies will support startups developing energy-related projects in areas such as environmental sustainability, mobility, digitisation, telecommunications, industry 4.0 and social impact that support the mitigation of Covid-19 effects in Spain.
Participating startups will receive financing or access to resources from the corporates through their subsidiaries, corporate venturing units or technology divisions to fund project development.
Other corporate backers are welcome to join and startups have until April 19 to apply for the scheme.
Ascri, which functions as the Spanish venture capital and private equity association, has pledged support to the initiative as have accelerator operator Startup Olé, startup-focused media organisation El Referente and project finance platform Socios Inversores.
Look out for the podcast episode recorded by Global Corporate Venturing editor-in-chief James Mawson and BP Ventures managing directors David Hayes and Nacho Gimenez which will be released soon.
