Gain in Spain

Gain in Spain

Bankia Fintech by Innsomnia, the “first” incubator and accelerator in Spain, is calling for start-ups to submit applications.

Spanish bank Bankia and Valencia-based fintech firm Innsomnia have teamed up, and are looking for five ideas, start-ups or spin-offs of consolidated companies to develop their activities in almost every area of the fintech industry.

Jose Ignacio Goirigolzarri, president of Bankia, says it wants to “strengthen” its commitment to the fintech market and “repeat the great success of the first national call” (made earlier this year) as it “managed to capture 40% of Spanish fintech companies”.

The first class of Bankia Fintech by Innsomnia, has 14 start-up participants from Madrid, Asturias, Castellón, Alicante, Valencia and Barcelona, which will join the five selected in this latest round.

The idea of this new round is to improve entry into the domestic markets of European and Latin American companies that want to start operations in Spain and in Latin America.

The programme will last 16 weeks and provide training and mentoring, develop ideas or business plans, as well as an “immersion project” in the Spanish fintech ecosystem.

Applications end on 28 February 2017 and more details are here.