With a capital injection of 10 million euros, the Barcelona City Council created a new fund to invest in startups in the DeepTech sector.
The Barcelona City Council will advance a round of financing with a public-private fund with an initial amount of 10 million municipal euros. The objective is to seek private equity investment partners in order to reach a total amount of 30 million euros.
The capital will be allocated to the DeepTech sector in Barcelona, a sector born out of research centers and universities.
It is in these spaces where we work with high technology in search of innovative solutions that meet the current and future demands of society in the technological field.
Investment for DeepTech startups
The announcement of this capital for DeepTech projects was made during the first Barcelona Deep Tech Summit, a space that served to connect the scientific community with the entrepreneurial community.
For his part, Jaume Collboni, first deputy mayor of Barcelona, said that this capital injection seeks to retain and value the talent of companies where there is business innovation.
He added that “the innovations that emerge from these companies, which are based on science, are aimed at improving people’s well-being. They also have a high impact on the climate, on human health, on the fight against diseases and on energy savings and efficiency”.
This type of support mechanism is the best way to retain the talent that emerges in the universities and to make the projects that are born in the city in these institutions of knowledge a reality.
This new fund will be joined by another fund that the City Council already has together with Barcelona Activa.
This is “Barcelona Accelera”, a funding mechanism for startups that is also being promoted with a sum of 10 million euros of public origin and is expected to reach 50 million euros of private capital, to strengthen Catalan entrepreneurship.
First Barcelona DeepTech Summit
The event was also attended by the Minister of Science and Innovation, Diana Morant, and was attended by more than 500 national and foreign participants, as well as expert and prominent speakers representing Meta, NASA, ABB Robotics, Nestlé, among others.
Within the framework of the congress, an investment forum was held with the participation of important Deep Tech start-up funds.
Likewise, the startup “Qilimanjaro Quantum Tech” (derived from the Barcelona Supercomputing Center (BSC-CNS), the University of Barcelona (UB) and the Institute of High Energy Physics), was awarded by the Barcelona Deep Tech Awards, as the best deep tech startup in Catalonia.
The award will enable them to participate in the international benchmark congress “Hello Tomorrow” to be held in March 2023 in Paris.
