El Correo, Spanish newspaper, is the person in charge and organizer of this initiative, with the Basque Goverment, the Provincial Council of Biscay and Bilbao City Council as sponsors.
After analyzing 110 different projects until last June 30th, a professional committee studied them and selected 24. Half of them are industrial type and the rest are focused on health, marketing and e-commerce.
At the begining the number for the finals was 20 startups, they had to raise it to 24, “because of the quality of the projects”, said one member of the organization.
The 'chosen ones'
Servantrip is the only company based in Madrid chosen to present its project to the investors that will attend to the event. They present themselves as "the first international platform in the travel industry that allows travelers to book prescreened local professionals who offer services like tour guides, drivers, interpreters and lawyers".
The other participants come mostly from the northern side of Spain: 14 from Biscay, two from Navarre, another two from Valencia and the rest from Álava, Cantabria, Asturias, Aragón and one more from Switzerland.
According to the organizer's information, 80% of these innovative companies find themselves on and early development stage. The other 20% has found a way to establish in the market and get into an expansion stage. Five of them have more than 200.000 euros turnover and one of them even reaches 2 million euros.
Besides having a showroom inside the Euskalduna Conference Center during the days of the event, the 24 chosen companies will be able to benefit from a training plan specially for startups, that will be run by ESIC in the Bilbao Chamber of Commerce during the 4 weekends from September 9 and October 1.
The goal of the training plan is to prepare the leaders of the selected companies before their meeting with the investors and help them know the different aspects related to the funding process, such as how to face financing rounds, how to approach pitch presentations effectively or how to close partnership agreements.
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