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Castellón Órbita accelerator is looking for early stage Spanish startups, €100K in prizes

orbita accelerator castellon
Written by Tim Hinchliffe

The Órbita accelerator in Castellón is looking for outstanding projects to take them through a process of scalable and sustainable growth while guaranteeing them access to private financing, including €100K in prizes.

The Órbita accelerator is looking for Early Stage and Seed Phase startups in any sector with a maximum age of five years since their establishment or when their activities began.

Ten startups will be chosen for this edition and benefits include:

  • €20,000 equity-free for each of the top five winners
  • Elevating startups to another level
  • Obtaining private investments

Applications for the acceleration program are open until August 31, and the program will run between September 15 and December 15.

Those projects with high potential will be able to consolidate their growth by immersing themselves in an intensive acceleration program that promotes their progression and that gives  access to financing and private investment.

The Órbita Accelerator Selection Process

Pre-selection

Of all the applications received, 20 will be pre-selected, and only those that meet the requirements in the opinion of the selection committee, will move on to the actual selection phase.

Selection

The 20 pre-selected candidates will defend their project in a presentation before the committee, formed by members of the BIC, expert mentors, and investors.

The presentations will have a 5 + 5 format, with 5 minutes of presentation and 5 additional minutes for questions from the members of the committee.

Personal Interview

In the previous step the committee will select no less than 10 projects as finalists, which will go to the personal interview phase where they will have to explain their project in depth to the members of the committee, again, in a meeting / interview of not less than 30 minutes where the committee will decided their fates.

From this phase the 10 final projects that will be the participants of the final selection process will be selected and from which the five winners will be awarded a prize of €20,000.

Órbita Accelerator Investment Opportunities

The 10 projects participating in the selection process may present their proposal on the Investor’s Day, the final session of the program, where participants will have the opportunity to defend their projects in an Investment Forum, with the participation of the Business Angels involved. The session is also open for the participation of other investors.

If the project has progressed adequately and, as a result of its work, it arouses the interest of investors, the investment stage will be opened, which will be complemented by the search by the BIC of the public financing line that best suits the project to achieve a multiplier effect of the investment made.

Throughout the program there will be a Project Director, who will act as a tutor and consultant in all matters that need to be resolved both in relation to the project and to the entrepreneurs in any of the phases of the selection process.

On July 5 the Centro Europeo de Empresas Innovadoras de Castellón (CEEI) welcomed the presentation of the new Órbita Business Acceleration Program, jointly promoted by the CEEI and by the Diputación Provincial de Castellón.

About the author

Tim Hinchliffe

Tim Hinchliffe the editor in chief at Novobrief. Previously, he was a reporter for The Ghanaian Chronicle in West Africa, and Colombia Reports in South America. Principal at Espacio.