INDPULS STARTUP SUPPORT PROGRAM 2024

I. What is the Indpuls Startup Support Program?

The Indpuls Startup Support Program (the “Program“) is an initiative promoted by Associació Indpuls (“Indpuls”), which aims to support technological companies (the “Startups”) to accelerate their go-to-market and development of pilots with medium and large industrial companies.

 

II. Who are we?

Indpuls is an association founded in 2022 by some of the leading Catalan industrial companies which aims to foster collaboration and innovation between startups and companies in order to make the industrial sector a key asset for the generation of wealth and opportunities with a positive and sustainable over time impact on the territory. Indpuls is committed to supporting entrepreneurship and innovative initiatives to promote new business projects and facilitate their growth. To this end, Indpuls is launching the Program, which aims to facilitate the growth of Startups by offering them direct access to its partner companies and facilitating possible future collaboration agreements and investment opportunities among them.

III. Why are we launching the Program?

Indpuls is launching the Program with the aim of finding Startups for two challenges: CIRCULARITY and TRACEABILITY.

CHALLENGE 1: CIRCULARITY

The aim is to find Startups that provide technological solutions aimed at reducing environmental impact and the loss of value of products throughout their lifespan in the following areas:

  • New Biomaterials
  • Energy and resource efficiency
  • Increase in durability, repairability, or reusability of products
  • Enhancement of recyclability of products and their materials, waste valorization
  • Packaging with recycled materials
  • 3D Printing with sustainable materials
  • IoT in Waste Management
  • Artificial Intelligence for Sustainable Design, or
  • Biotechnology for Advanced Recycling.
CHALLENGE 2: TRACEABILITY

The aim is to find Startups with pioneering technologies to help identify raw materials, products, and assets, as well as ensure their traceability throughout the supply chain in the following areas:

  • Smart Quality Sensors
  • Blockchain
  • Nanotechnology
  • RFID (Radio-Frequency Identification)
  • Artificial Intelligence and Machine Learning in Data Analysis; or
  • Integration of Virtual Reality (VR) for Virtual Inspections among others.

In particular, the main objectives of the Program are the following:

  • Validation of the business model and value proposition to accelerate time to market; and
  • Intensive and short collaboration process among the Startups and Indpuls’ partner companies with potential for collaboration or investment results.

Considering the above, the expected results of the Program are (i) the development of proof of concept and pilot projects; (ii) the collaboration between Startups and industrial clients; and (iii) the identification of investment opportunities.

IV. What profile of Startups should join the Program?

The Program is aimed at all types of Startups (start-ups already incorporated, in early stage or in a growing stage), that are interested in collaborating with medium and large industrial companies in order to accelerate their go-to-market and development of a pilot, proof of concept or collaboration, and which are focused on the development of some of the following technologies:

  • New Biomaterials
  • 3D Printing with sustainable materials
  • Artificial Intelligence
  • Blockchain
  • Industrial IoT, or
  • AR, VR, MR.

 V. What does the Program offer?

The selected Startups will receive the following benefits during the Program:

  • Mentoring: Access to experts in different areas of Indpuls’ partner companies and Lead To Change, strategic partner of Indpuls;
  • Business opportunities: Ability to develop a pilot or collaboration with Indpuls’ partners;
  • Networking: Meeting senior executives from medium and large industrial companies in Catalonia with international presence;
  • Investors: Connecting with potential investors in the industrial ecosystem;
  • Visibility: Communication and participation in events; and
  • Prize: Two (2) finalist Startups will participate in a seminar on Strategy, Growth and Innovation that will be held in Boston (the “BostonSeminar”), organized by Lead To Change, strategic partner of Indpuls. The Boston Seminar is valued at six thousand euros (6.000 €) per person (the participation in the Boston Seminar will be limited to one (1) participant per Startup), and accommodation and flight expenses will be covered by Indpuls.

VI. Which will be the content and format of the Program?

The Program consists of an open call for Startups to participate in an intensive and personalized growth program that will be 60,00% held at Indpuls’ partner companies, in-person or remote, and 40,00% in management support for their growth (percentages are approximate). The content and format of the Program will be the following:

  • The selected Startups will participate in eight (8) individual or small group sessions, of which four (4) will be in-company sessions with industrial companies and four (4) will be sessions with Lead To Change.
  • The selected Startups will participate in two (2) joint sessions, which will be held at the beginning and at the end of the Program.
  • The Program will have a hybrid format, implying that the first and the last meetings or sessions will be held in-person and others will be optionally held in-person or online through videoconferencing platforms.

VII. What evaluation criteria do we take into account?

The Startups that will participate in the Program will be selected by the Evaluation Committee on the basis of the following criteria:

  • Company incorporation: It will be imperative that the Startup is properly incorporated;
  • Team: Previous experience will be valued, as well as a minimum team size of 3-5 people with the capacity to develop a pilot or collaboration, a pool of advisors in their sector and previous participation in an incubation or acceleration program;
  • Disruptive technology: Spin-off, deep-tech or technological background;
  • Clients: It is desirable that the Startup already has some clients or has developed some pilot projects;
  • Value proposition: The value proposition will need to be aligned with the challenges of Indpuls’ partners;
  • Collaboration: Potential for collaboration with one of the Indpuls’ partners will be valued;
  • Founding partners: It will be highly valued that the founding partners of the Startups are fully involved in the company;
  • Investment round: It will be positively assessed if the Startup has raised at least one investment round, if necessary;
  • Languages: Spanish and English proficiency will be valued;
  • Availability to travel: Full availability to travel to Catalonia; and
  • Commitment: Firm commitment to participate in the Program will be imperative.

VIII. Evaluation Committee

The evaluation committee will be composed of a multidisciplinary team with participation from:

  • One (1) representative from each of the companies associated with Indpuls;
  • One (1) representative from Lead To Change, strategic partner of Indpuls; and
  • The Chief Executive Officer of Indpuls.

The Evaluation Committee will select ten (10) Startups to participate in the Program. Once the Program has been completed, the Evaluation Committee will select the two (2) finalist Startups that will participate in the Boston Seminar.

IX.Application 1

Startups interested in participating in the Program may submit their application from March 28 to May 3, 2024 at 17:00 (CET, Brussels, Madrid time).

1 Dates are subject to change at the sole discretion of Indpuls.