Last year, the Repsol Foundation’s social investment amounted to 9.5 million euros. Its projects benefited more than 186,000 people, mainly in Spain and Latin America. The investment went mainly to projects related to entrepreneurship and social development. In 2019 it launched a social investment fund worth 50 million euros.
In 2019 Repsol and its Foundation reinforced their social commitment and sustainability by launching last June an investment fund. Its social impact of 50 million euros for investment and the development of a portfolio of social companies focused on energy transition. The inclusion in the labour market of vulnerable groups in Spain.
Reference in social investment
Through this fund, Repsol and its Foundation enter the sector of investment with a social impact. Which until now underdeveloped in Spain. In this way, they consolidate their position as a benchmark in social investment in our country. Where there are still 8.5 million people at risk of exclusion.
Repsol Foundation with entrepreneurs
In addition to the creation of this fund, managed through the company Repsol Impacto Social, the initiatives developed by the Foundation include its acceleration programme Fondo de Emprendedores (Entrepreneurs’ Fund). Firstly it launched in 2011. This programme, which is now in its eighth year, supports the most innovative technology-based projects. In the field of the energy industry, mobility and the circular economy.
As Eduardo García, Director of Entrepreneurship at Repsol Foundation, points out, “our objective as a startup acceleration program is to help the projects we support become market realities in the shortest possible time. What we are looking for is business development, so that their technologies and innovations contribute to a sustainable energy transition.
One of these realities is Finboot. It is a startup which specializes in the development of blockchain solutions that, after acceleration by the Entrepreneurs Fund, received an investment from Repsol Corporate Venturing and became the energy company’s supplier with its Blockchain Blocklabs solution, developed together with Repsol Technology Lab professionals.
Boosting the energy of entrepreneurs
In July, the new selected startups appeared and will become incorporated into this business accelerator, which is now in its eighth edition. After an exhaustive process of evaluation and selection of the 649 proposals presented, ten companies were finalists, among which an expert jury selected six to become part of the Repsol Foundation accelerator.
The proposals selected stand out for their degree of innovation in the field of the energy industry. They come from Canada, Norway and Spain.
(Featured Image By Unsplash)
First published in cambio16, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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