With the ‘Santander X Global Challenge-Countdown to Zero’ initiative, it is aimed at startups and scaleups from 11 countries
MADRID, 12 Jul. (EUROPA PRESS) –
Banco Santander has launched a global challenge for startups and scaleups from 11 countries, including Spain, to find innovative and sustainable solutions for the world of the automotive industry in mobility, logistics and transport, and carbon emission compensation alternatives, supported by the Formula 1.
Santander has reached a collaboration agreement with Formula 1 to promote sustainability initiatives for three years that contribute to the sustainable development of the automotive industry. In this first year, the initiative will consist of the launch of the ‘Santander X Global Challenge-Countdown to Zero’, in which Formula 1 will play a relevant role as part of the jury of the call and promoting the most outstanding initiatives.
The collaboration aligns with F1’s commitment to achieve net-zero carbon emissions by 2030 as part of its sustainability strategy, which includes the introduction of 100% sustainable fuels by 2026 and innovations in transport and logistics that will improve the reduction of emissions.
The Santander X Global Challenge-Countdown to Zero call will be open until September 8 at ‘www.santanderx.com’ and both startups and scaleups may present their projects linked to one of these three categories: ‘On the track’, projects related to the future of sustainable mobility with zero emissions; ‘On the move’, solutions that increase environmental sustainability in the field of logistics and transport, whether by road, sea or air; and ‘Balance to zero’, to generate innovative alternatives for offsetting the carbon footprint.
The Director of Communications, Corporate Marketing and Studies of Grupo Santander, Juan Manuel Cendoya, said that Santander X is helping thousands of entrepreneurs to take their ideas further and faster. “This agreement with Formula 1 takes that support to a new level, creating opportunities for companies to join forces with one of the world’s most innovative sports and support the transition to a low-carbon economy. We are delighted with this program and welcome We wish all entrepreneurs much success,” he said.
For Javier Roglá, global director of Santander Universities, the green transition is the “most urgent” challenge that companies face. “And in which innovation and the entrepreneurial fabric play an enormously important role. At Santander we have maintained a firm commitment to entrepreneurship for 25 years. Last year we supported more than 23,000 emerging ventures, micro-entrepreneurs and SMEs to obtain training and connect them with the resources they need,” he said.
For his part, Brandon Snow, commercial director of F1, has pointed out that: “As Formula 1 continues its journey to reach net zero carbon emissions by 2030, it is great to collaborate again with Santander, which has a longstanding relationship with sport. This challenge, and our collaboration more broadly, celebrates what makes sport so special through technology and innovation as we seek to create a more sustainable world.”
The participating projects will go through different evaluation processes until reaching the final phase in which the 20 best solutions, 10 startups and 10 scaleups will compete, presenting their initiatives in October before an international jury made up of experts from different sectors, including a member from F1.
Finally, the six winning projects will be chosen, who will receive 120,000 euros in prizes: 30,000 euros for the three winning startups (10,000 euros each) and 90,000 euros for the three best scaleups (30,000 euros each). All of them will have access to Santander X 100, the exclusive global entrepreneurial community of Santander X’s most outstanding projects, which connects them with the resources they need to grow, including: advice and training, capital, clients, talent, networking and other valuable resources.
The winners will present their solutions to F1 managers and will have the support of Formula 1 in promoting their solutions, both on its official social networks and on the official website www.formula1.com.
Banco Santander has a historic relationship with Formula 1 as a collaborator of this sport from 2007 to 2017. It is currently an official sponsor of Scuderia Ferrari, with which it has signed a new alliance since this season and which, as part of the agreement, will offer a wide range of solutions to support Scuderia Ferrari’s plans to become carbon neutral by 2030. The bank had a previous eight-year partnership with Ferrari from 2010 to 2017.