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02/05/2024

Viratec and the Xunta de Galicia launch the new Business Factory ClimaTech

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This new business accelerator, in which the Xunta will provide more than 6 M€, seeks to promote the creation of new companies in the sector of environmental solutions and circular economy with a high economic, social and environmental impact, with innovative projects and internationalization vocation.

This initiative, the result of collaboration between the Clúster Galego de Solucións Ambientais e Economía Circular (Viratec) and the Xunta through entities such as Igape, Gain, and Xesgalicia, seeks to diversify and strengthen the Galician economy from a sustainable approach in a firm commitment to innovative entrepreneurship. ClimaTech will encourage the creation of new business projects throughout the sector's value chain, reinforcing Galicia's commitment to the environmental sustainability of the productive fabric. The idea is that over the next three years, successive annual calls will be held to promote 38 projects in the incubation (5), acceleration (18) and consolidation (15) phases.

The accelerator will focus on projects with a clear internationalization vocation, as well as those aligned with the principles of environmental sustainability and circular economy. Entrepreneurs selected to participate in ClimaTech will have access to a wide range of resources, including personalized mentoring, specific training, and workshops given by internationally renowned experts. The idea is also to foster collaboration and knowledge transfer through joint activities and international exchange programs, thus seeking to strengthen the environmental solutions sector globally.

The program's design includes five essential phases, from project definition and targeting, through project selection based on their potential impact, to implementation and follow-up of the established itineraries. This methodical approach ensures not only effective support for the projects in their different stages of development, but also continuous monitoring to maximize their impact.

ClimaTech, together with several business accelerators specialized in other key sectors such as automotive (BFAuto), aerospace (BFAero), pharmaceutical (BFMedicines) or food (BFFood), is part of the ambitious strategy of the Xunta de Galicia to promote innovation and sustainable development, ranging from multisectoral projects to initiatives for the internationalization of SMEs, such as VíaGalicia or Galicia Avanza, among others. 

The Business Factory ClimaTech, besides contributing to position Galicia at the forefront of the fight against climate change and promoting a greener and more diversified economy, is a significant step in the consolidation of the community as a benchmark in environmental sustainability and circular economy.

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