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Call for Asturias Startup Fund

Call for Asturias Startup Fund: financing of startups in the development and validation stage of the business model, minimum viable product / service (Phase I) and startups in the growth stage that have already demonstrated market traction (Phase II).

Call open from 2 March to 15 April 2026.5th, 2021

Requirements

• Be a highly innovative startup with its own differentiated product / service / technology.
• Have its social headquarters and tax domicile in Asturias, or be willing to set up in Asturias.
• Legal entities under all forms of S.L. or S.A.
• Technical, financial, commercial and management viability.
• The dynamising effect of the company on the Asturian economy and its volume of employment will be positively valued.
• Promoter team involved in the project.

Characteristics common to both phases

• Financial instrument: convertible subordinated loan
• Co-financing of the investment: by the company itself, its founders or third parties, with an amount of at least 25% of the financing of the stage.
• Priority for projects that have raised funds from investors (business angels, La Cuarta Financiación, etc.).
• No guarantees from the founders.
• No commissions of any kind.
• Convertible into equity: in an external financing round, the company value for SRP will be discounted by 20%. 
• Co-investment with specialised funds will be sought where feasible.

Phase I

• Startups in development, business model validation stage, minimum viable product/service, with potential for growth and scalability.
• Amount: maximum €100 K if there is a validated model through pilots, demonstrations and initial contacts with customers. In case of not having this validation, funding up to €50 K to reach this milestone and be eligible for the remaining €50K.
• Term: 4 to 6 years.
• Fixed interest: depending on the valuation of the project (between Euribor + 3% and Euribor + 4%).
• Variable interest: depending on the company’s results, with a maximum of 3 additional points on the fixed interest.
• Amortisation: 20% EBITDA for the first 3 years, the rest progressively until amortisation.
• Annual audit will not be necessary..
• Quarterly monitoring of the business plan.

Phase II

• Startups in growth phase, which have already demonstrated market traction and have a team with the capacity to grow the business project.
• Amount: up to €200 K
• Term: 5 to 7 years.
• Fixed interest: depending on the valuation of the project (between Euribor + 2% and Euribor + 3%).
• Variable interest: depending on the company’s results, with a maximum of 4 additional points on the fixed interest rate.
• Amortisation: 20% EBITDA for the first 3 years, the rest progressively until amortisation.
• Presentation of annual accounts audit.
• Six-monthly monitoring of the business plan.
• The overall financing of the project must be secured.

Procedure

• Completion by the startup of the Executive Summary document, and submission through the platform.
• Advice on the design of the business plan by CEEI ASTURIAS.
• Prior analysis of the projects by the CEEI and SRP technical team, taking into account the fit with the characteristics of the Fund and its level of maturity.
• Projects validated by the CEEI and SRP technical team must submit a 5-year business plan to Sociedad Regional de Promoción. The SRP team will review the business plan and, if the outcome is positive, submit a funding proposal to the SRP board.
• If the project is approved, formalisation of the operation before a notary.

Enquiries: hola@startinasturias.es – srp@srp.es – (34) 985 98 00 96 (SRP) and (34) 985 98 00 098 (CEEI Asturias)

More information about SRP: www.srp.es

More information about CEEI Asturias: www.ceei.es

You can send us your questions or apply for funding accompanying the executive summary document from the following form, and we will contact you: