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Banco Santander is launching a global challenge for startups and scaleups from 11 countries in order to find innovative and sustainable solutions for the automotive industry in different areas: mobility, logistics and transport, and carbon offset alternatives, supported by Formula 1®.
Santander has signed a three-year collaboration agreement with F1® to promote various sustainability initiatives. As part of the sponsorship collaboration, they've launched Santander X Global Challenge | Countdown to Zero, an open call for startups and scaleups driving the race to net zero. It will reward and support innovative solutions to the sustainability-related challenges arising from carbon emissions and will drive accelerated progress towards new solutions that will create lasting social and economic impact for the environment and millions of people around the world.
The partnership aligns with the commitment made by F1® to be Net-Zero Carbon by 2030 as part of its sustainability strategy, which addresses how the wider sport can reduce carbon, including through innovative solutions for freight and logistics, as well as the introduction of 100% sustainable fuels in 2026.
The deadline for applications is September 8.
What are we looking for?
Solutions should focus on:
- On the track: How can the solutions play a critical role in the future?
- On the move: How can the solutions help logistics and transportation become environmentally friendly? Could the solutions address logistics challenges from trucks, ships and aeroplanes?
- Balance to zero: How the solutions create credible offsets and breakthrough CO2 sequestration, capturing and utilisation programs?
Who is this aimed at?
Technology-based startups and scaleups from 11 countries, with scalable and innovative solutions driving the race to net zero.
Startup category: legally incorporated in one of the participating countries, with a maximum annual income of $300,000, with $100,000 to $1 million capital raised and 25 employees maximum.
Scaleup category: legally incorporated for at least two years in one of the participating countries, with an annual income over $300,000, more than $1 million capital raised and over 25 employees.
Awards
€120.000 for 6 winners
- €30,000 for the three winning startups
(€10,000 each) - €90,000 for the three winning scaleups
(€30,000 each)
Access to Santander X 100
- The winners will become part of Santander X 100, the prime community of Santander X's most outstanding entrepreneurial projects, which gives them access to the resources they need to grow: advice and training, capital, customers, talent, networking opportunities and other valuable resources.
Other benefits:
- Invitation to the FORMULA 1 GRAN PREMIO DE LA CIUDAD DE MÉXICO 2022.
- Opportunity to pitch to F1 experts to evaluate a potential pilot to validate the solution
- Access to EIT InnoEnergy Innovation Engine to design and support the winning participant’s acceleration roadmap to growth.
- Promoted on Banco Santander's social media and official channels
How are the winners selected?
Deadline for applications: 8 September 2022.
FORMULA 1 GRAN PREMIO DE LA CIUDAD DE MÉXICO 2022
Our commitment
Banco Santander
Banco Santander, leaders in responsible banking, are firmly committed to progress as well as inclusive and sustainable growth. Their pioneering and long-standing commitment to education, entrepreneurship, and employment through Santander Universities, which has been operating in this area for over 25 years, sets Banco Santander apart from the world's other financial institutions. Since its inception, the bank has allocated over €2.1 billion and supported more than 790,000 students, business professionals, and entrepreneurial projects through agreements with over 1,000 universities and institutions in 15 countries.
Formula 1®
Formula 1® racing began in 1950 and is the world’s most prestigious motor racing competition, as well as the world’s most popular annual sporting series. Formula One World Championship Limited is part of Formula 1® and holds the exclusive commercial rights to the FIA Formula One World Championship™. Formula 1® is a subsidiary of Liberty Media Corporation (NASDAQ: LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) attributed to the Formula One Group tracking stock. The F1 logo, F1 FORMULA 1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX, PADDOCK CLUB and related marks are trademarks of Formula One Licensing BV, a Formula 1 company. All rights reserved.
*The F1 logo, FORMULA 1, F1, GRAND PRIX and related marks are trademarks of Formula One Licensing BV, a Formula 1 company. All rights reserved.