Financial Motivation Line for Digital Entrepreneurs | digitization | technology

At the end of 2021, the Organization for Economic Cooperation and Development (OECD) presented some interesting data on entrepreneurship, which is the willpower to create companies that form the basis of the country’s wealth. In Spain, he said, there could be 608,000 more companies if it was young and employed the elderly Particularly women will have less difficulty with the finances, skills, or connections to turn their business ideas into a viable company.

We cross this data with the contribution of the digital economy to Spanish GDP, which is on its way to no less than 23%, according to Adigital and the Boston Consulting Group, and the conclusion is clear: tech entrepreneurship in general, but in particular by females. Entrepreneurship is a source of development whose main resource is human talent. You don’t have to import it, just use it better.

In economics, this usually means financial assistance. With this strategic purpose, the National Innovation Company (ENISA) designed the specialized Digital Entrepreneurs Program, which was born from the Ministry of Economic Affairs and Digital Transformation (MINECO), through the Minister of State for Digitization and Artificial Intelligence (SEDIA). With the aim of achieving the general benefit of society through the enriched digital economy with a greater presence of women.

The total funds for appropriations amount to 51 million euros. Since 2021, it has approved 138 transactions with a value exceeding 22 million

“Digitization 4.0 is not only important for the creation and continuation of new companies; it is also very important for Spain to be competitive thanks to companies that stand out worldwide for their quality, including small and medium-sized companiesStartups and expansion companies [compañías de base tecnológica ya asentadas en el mercado y con objetivos de crecimiento]José Bayon, CEO of the public agency ENISA, points out.

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But it’s not just about financing, it’s about doing it using the most efficient model possible in the relationship between investment outcomes. In this sense, ENISA starts from knowledge with reason. First of all, thanks to the accumulated experience, after supporting more than 8,200 companies from the beginning, which, according to Baiyun, means in-depth street-level knowledge. “We fully understand your situation because we feel your reality every day through the applications and loans we approve.” In addition, it is completed know how With sectoral studies sponsored by the entity to identify the economic, social and even personal keys to such a complex phenomenon as the establishment of companies.

specific actions

One of his benchmark reports, is Entrepreneurship Observatory in SpainWrite down some of these keys. For example, that fear of failure is the main barrier, and that better financing helps overcome this difficulty – 70% of entrepreneurial initiatives are launched with less than €30,000 of capital – and that only 15.6% of tech startups are either founded by women or 50% fewer medium- and high-value technology initiatives are led by women than are led by men. “This large gender gap in value-added entrepreneurship requires specific actions and policies,” Bayon explains.

Digital Entrepreneurs is one such initiative and its requirements and competency model are based on expert knowledge. For example, it doesn’t just focus on creating ex de novo A small or medium-sized company, but in a sensitive stage of development and consolidation, when companies often collapse startup companies. In this sense, the ENISA competency criterion selects projects that are outstanding in terms of technical and economic feasibility, as well as innovative business models or those with clear competitive advantages.

The large gender gap in value-added entrepreneurship requires specific actions and policies

Jose Bayon, CEO of the public agency ENISA

We’re talking about public money invested in wealth creation that closes the circle back to that same public money via taxes. Hence, another key requirement of the model is public transparency: the selected companies receive assistance linked to the Recovery, Transformation and Resilience Plan – which is funded by the EU Next Generation Funds – and are therefore committed to ensuring that the loan is seen throughout its trajectory. .

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The program also applies an open vision of female entrepreneurship. It is sufficient for one or more women to hold relevant leadership positions in the structure of shareholders, management bodies, or the management team of the SME. Plan for a wide range of amounts, from €25,000 to €1.5m. It includes a cross-sectional concept of digitization that extends to the entire economic fabric.

“When we talk about promoting digital transformation – stresses the CEO of ENISA – we are talking about opening the focus to strategic sectors such as agriculture, health, mobility, tourism or cultural industries and all branches of industry. This dual green and digital revolution must serve so that structural and sustainable transformations affect and permanent effects on the economy and society as a whole.”

Funding effect

ScrapAd is one of the companies that has received funding from the ENISA Digital Entrepreneurs line. It was partly founded in Eibar by a couple consisting of Sandra Montes and Samuel Ruiz, who are also well-matched in business, with a pioneering idea that combines digital with sustainability. for him the shop It puts producers and buyers of recycled materials, especially metals and ABS plastics, in contact with each other, making the process that usually generates logistical and service problems safer, cheaper and more flexible. Funding was key to realizing the idea and making it sustainable in time and space. It is a case of stimulating the economic ecosystem far beyond the local scale: the platform is already present in 71 countries for more than a thousand customers.

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