Northwest looks to take investment north

Northwest looks to take investment northTwenty million euros of financing were up for grabs at the fourth Northwest Investors’ Day, which took place early in June, catering for the regions of Asturias, Galicia and Castilla y Leon.

Taking place at the LABoral Center for Art and Industrial Creation in Gijon, it welcomed a total of 60 startups, as well as 15 companies in the growth phase. And coming to see them and waiting to be impressed were 76 investors from all over the country. Their united objective was to discover start-ups of innovative projects with high potential value.

Throughout the event, 600 meetings took place between investors and those trying to demonstrate that their ventures were the place the smart money should be headed.

This was the fourth edition of the day, held in Asturias at the LABoral Center for Art and Industrial Creation. And for the first time it was held jointly by Galicia and Castilla y León. The idea of that initiative was to increase the outreach and scope of the event, helping it to become more inclusive, and so encouraging more participation of companies and investors from those communities.

The big guns

It was promoted by the Ministry of Employment, Industry and Tourism, and aimed at encouraging the flow of private financing that allows the development of projects launched by young innovative companies. To that end, the Minister of Employment, Industry and Tourism of the Principality of Asturias, Isaac Pola, participated, as did the Regional Minister of Economy, Employment and Industry of the Xunta de Galicia, Francisco Conde.

And representing the Spanish Association of Capital, Growth and Investment, otherwise known as Ascri, was general director José Zudaire.

Speaking to those gathered, he predicted that this year could match the figure of risk capital investment invested last year. This amounted to 400 million euros. His encouraging words went even further as he said he believed that the European Investment Fund has set its sights on Spain. And there was good reason why this should be so, he said, stating that the EU itself recognizes that Spain boasts some of the finest entrepreneurs in Europe.

Please allow me to introduce myself…

In the meetings, start-ups had the opportunity to explain their business models, along with initiatives they intended to launch as they tried to gain the confidence of investors. The smaller and younger start ups were hoping for investments in the range of 150,000 euros while some of the more established and experienced companies had expectations in the one million bracket.

The Northwest Investor’s Day came together after several months of intense work and effort by a number of entities responsible for promoting business development, economic activity and entrepreneurship in the three regions. These included the IDEPA, the CEEI and the SRP by the Principality of Asturias; IGAPE and XesGalicia, of the Xunta de Galicia and ICE and Sodical, of the Junta de Castilla y León.

For more information, please contact corporate law firm Argali Abogados

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