The 6 operations executed under the Guarantee Fund programme have received an average of almost €90,000 in support.
50% of the projects financed through the fund are led by women.
The Guarantee Fund programme, launched thanks to the collaboration between the Department of Local Economy and Employment, through Fomento de San Sebastián, and Elkargi, has financed a total of six operations in 2023, with an average of 87,600 euros of support per operation. This amount represents an increase of 20.3% compared to last year's average. The selected projects are dedicated to Health, ICT and 4.0 industry sectors. In addition, in 2023, 50% of the financed operations were led by women.
Since its start in 2016, the collaboration between the two entities has supported 30 projects with a total of 2,167,000 euros. The evolution of the program is positive, with an annual increase in both the quantity and the quality of the projects. For Fomento de San Sebastián, it also means reinforcing its commitment to collaborate with strategic agents of the entrepreneurial ecosystem, such as Elkargi, which makes possible to promote and support innovative entrepreneurial projects.
Ane Oyarbide, Councilor for Local Economy and Employment, pointed out that "the results show the work that the City Council along with Fomento San Sebastián is doing to ensure that there is no entrepreneurial project, no startup, that does not have the necessary support to consolidate and provide wealth and quality employment in our city. The promotion of such programas amounts to 12.5M in the last ten years".
The director of Elkargi in Gipuzkoa, Rakel Martín, emphasized that "we continue to strengthen our ongoing commitment to the entrepreneurial ecosystem. We consider that Public-private collaboration and accurate knowledge about the projects are key elements to consolidate our support with real funding". Martín highlighted the long history of collaboration with this ecosystem, and the "Elkargi spirit" which is "focused on understanding their needs and providing customized solutions".
The programme supports the startups in the first complicated phase of development, when they need capital to start off their initiatives, as well as in a second phase of growth allowing them to consolidate their business. Fomento de San Sebastián selects entrepreneurial projects with growth potential and refers them to Elkargi so that, after their professional assessment, they can access the Guarantee Fund.
The programme is part of Fomento de San Sebastián's commitment to entrepreneurship. Since 2015, the entity has invested €12.5M in this type of programmes, doubling the average annual investment in the last two years, reaching €2.5M in 2023. Each year, Fomento de San Sebastian supports 300 projects: 20% of them are innovative, 26% belong to the field of biosciences and health, 49% to 4.0 Industry services, and the remaining 25% are linked to energy and new materials.
Regarding the year 2023, 4 out 6 funded projects were related to health and biosciences. A sector that, according to the Technology Employment Map published in February by the COTEC Foundation, has experienced exponential progress in San Sebastian, multiplying by eight the number of affiliates in the period 2016-23 (from 25 to 526 affiliates).
This collaboration allows us to continue enhancing the development of startups that contribute towards making San Sebastian a city of technological entrepreneurship. The Entrepreneurial Activity Rate (TEA) of San Sebastian, with 6.6%, is above the Basque autonomous region and national average (6%).
Description of the projects funded during the year 2023:
- VERIS BEHAVIOUR. Startup that uses Virtual Reality and Neuromarketing to develop immersive projects that help companies to understand the preferences and the needs of their customers.
- SYSTEMILEC WEALTH. SABELEC project. Development of a product that aims to prevent pressure ulcers and improves the well-being of the patients.
- HEALTH PRO SL. Technological company that uses Virtual Reality to train professionals of the health sector.
- ZOLA SISTEMAS SL. Health sector professionals using virtual reality.
- DIGIZEN. OKencasa project. Support system directed to caregivers and families of senior dependant persons. It allows to inform and alert the family about the state of the person.
- ENKI TECHNOLOGIES SL. ENKITEK Project. Automation of cultivation processes in vertical gardens. Process automation using AI, robotics, and a monitoring interface.