It is necessary that the registration or call period is open to be able to register a project. In each edition of the BFA initiative a period for the registration of projects is opened; during this registration period, the project promoters must complete and validate an enrolment form for completing successfully the registration.
The projects can only be registered exclusively through the BFA website (http://bfauto.es/), there is no other channel for the project registration. There are other advisory channels such as telephone or/and email for helping to the projects in the registration process.
No, it won´t be. The BFA has got a mechanism to detect and place the project in the most suitable phase. If a project is registered in a phase (acceleration or consolidation), and this is not the correct one, the project can be transferred to the other phase, this change will be communicated to the promoters of the project.
BFA is exclusively focused on projects related to the automotive sector, excluding those projects related to any other mobility that does not have the car as a medium. In each call will be published those areas of innovation considered priority.
The society can be constituted or not, BFA will value the potential of the project and its trajectory and adaptation of the equipment to it. In case that the society is already constituted, it must be a maximum of three and a half years (42 months) to participate in the Acceleration Phase and maximum 6 years (72 months) to participate in the Consolidation Phase. If it is not constituted, and if it is finally selected the promoter team must constitute the society before starting the acceleration / consolidation phase.
No, you cannot. To participate in the BFA program it is necessary that the project has the legal status of a limited company or limited liability company. In addition, the company must have activity or must initiate it once it is incorporated to participate in BFA.
The BFA initiative is focused on Startups promoted by entrepreneurs, Spin-outs result of an existing company or the collaboration of several companies, and Spin-offs with origin in universities or technology centres.
About the degree of development, there are no limitations, because depending on the phase in where the project is, it will choose the acceleration phase or the consolidation phase. Of course, the assessment will be better insofar as the information requested in the registration form is provided in a clear and concrete way.
The selected projects will have to establish their fiscal and social domicile, as well as establishing the main activity center in the Autonomous Community of Galicia. All this, at least during the term of the financing agreements of the acceleration and / or consolidation phases. In addition, a minimum of two team members may have a continuous presence in the BFA facilities which will be their workplace. They will have to attend and participate actively in at least 80% of each of the activities of the Program.
BFA's facilities are located near the main regional automotive companies, which will facilitate the integration of the project in the sector and the construction of a business development network.
No, there are not. In BFA it can be presented projects from any country. In case of being selected, the promoters may manage: the establishment of the company's fiscal and social domicile in the Autonomous Community of Galicia together the establishment of its main activity center; And the work permits of the team members who are going to move to Spain (if they are required). All documentation must be available before the start of the acceleration / consolidation phase.
In the applications it will be valued mainly the equipment and the project according to the established criteria (you can see in the Programme Bases). In the projects that aim to the Acceleration program (seed projects in the early stages of development) the assessment obtained will have a weighted at 60% for the team members and 40% for the project, considering that the team is the Key to the development and survival of the project.
For projects that aim for the Consolidation program in successive calls (companies start with a business model in operation and in the process of consolidation) in the valuation are weighted with a weight of 40% team members and 60% the project. The team remains key, but in these times when a higher investment is required the potential of the project will be fundamental.
The participants can submit its candidature in Spanish, English or Galician. The programme will be developed in Spanish / Galician or English depending on the needs of the participants.
When talking about promoters and management team we have to distinguish the nature of the project which will participate in BFA:
The promoters are those people or entity/ies in which the project comes from or it has the origins, we will be the project responsables. When those are an entity or group of entities they must designate a management team that directly intervenes in the project, with sufficient power to make decisions and full representation of the same.
The management team will be those people who are part of the team that participates every day in the project. At the time of registering the project in the BFA program, you may not have added anyone to the project team yet, but if it is not, from BFA we want to know you and know which area or position it covers. That is why we will ask you to specify in the registry the roles of each of the members of the project team or entrepreneurial team and which have the status of promoters.
No, there is not. Each promoter team may submit an unlimited number of projects, but it just aims to the eligibility of one of them. In case of Spin-offs and Spin-outs may be eligible for more than one project, as long as the proposed promoter team for each project is different.
Once the call phase is closed we will start the selection phase. Throughout this phase we will contact you if you are selected to participate in the personal interviews. Subsequently we will publish on the BFA web the up to 10 projects that will be invited to be part of the acceleration program and the up to 10 projects that will be invited to participate in the consolidation program.
Of course, BFA also helps to the participants to look for additional financing and we will promote among them the active search of other sources that allow the acceleration of the development of the project.
Yes, it can. There are not any problem about the projects from participating in other initiatives. BFA takes into account that at least two project members have to have a 100% dedication to the project that participates in BFA. (Review Regulatory Bases of the program).
All information provided will be treated with the required confidentiality. For more details you can consult the legal aspect section of the Bases.
Yes, you can. If a project does not fit into any these special themes, does not means that it cannot be eligible, but it will have preference the projects that are under any of the topics of special interest.
No, it wouldn´t go. A project that has participated in the acceleration phase does not enter directly into the consolidation phase, the project will have to submit its application or request again to participate in the consolidation phase. To the consolidation phase can present projects that have already participated in the acceleration phase and projects that have not done so. There will be projects that can enter directly to participate in the consolidation program without need to have participated in the acceleration phase because of it level of development is rather advanced.