SRP wants to encourage the entrepreneurial spirit and promote the creation, promotion and consolidation of entrepreneurial initiatives in Asturias.
To this end, we offer innovative Asturian entrepreneurs, or those who want to set up in Asturias, the Asturias Startup Fund, endowed with 4.5 million euros, aimed at supporting the creation and growth of highly innovative companies with their own unique product, service or technology. The Fund contemplates both the financing of startups in the development and validation stage of the business model, minimum viable product / service (Phase I) and startups in the growth stage that have already demonstrated market traction (Phase II).
Call open for aplpicatins from May 10th to June 30th, through the link https://www.startinasturias.es/convocatoria/
Outstanding features of these loans
- Financial tool: convertible equity loan
- Co-financing of the investment by the company itself, its promoters or third parties, with an amount of at least 25% of the financing.
- SRP financing between €50,000 – €100,000 in Phase I and up to €200,000 in Phase II.
- Terms: 4 to 6 years for startups in Phase I, and 5 to 7 years in Phase II.
- Fixed interest: depending on the valuation of the project (between Euribor + 3% and Euribor + 4% in Phase I and between Euribor + 2% and Euribor + 3% in Phase II).
- Variable interest: depending on the company’s results.
- No arrangement, study, early repayment, etc. fees.
- Guarantees: no guarantees
Download Asturias Startup Fund Sheet
The promoters will be advised by the European Business and Innovation Centre of the Principality of Asturias (CEEI) for the design of the business plan.
The fund is supported by an Advisory Committee made up of renowned experts in the fields of business, investment, innovation and technology.
SRP participates in the Start in Asturias initiative, an IDEPA Group programme to help you create, develop and grow your startup in Asturias. The five entities that make up the Group provide you with a set of highly specialised services to make your path easier and allow you to focus on what really matters: your project.