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Minerva Programme startups increase their turnover by 41.6% and close to €11 million

August 7, 2021
Minerva Programme startups increase their turnover by 41.6% and close to €11 million

The Minerva Programme, an accelerator promoted by the Regional Ministry of Economic Transformation, Industry, Knowledge, and Universities together with Vodafone, has promoted a total of 183 startups since its creation almost a decade ago. In total, these initiatives have already invoiced almost 11 million euros in 2020, 41.6% more than in 2019. This figure reflects the resilient nature of the technology companies that have joined this initiative, which has managed to grow during the first year of the pandemic.

80% of the companies accelerated by Minerva manage to commercialise their products and services at the end of the programme. 40.3% of the startups that reach the commercialisation phase have even been able to sell their innovative solutions outside Spain.

Almost half of these startups have sold digital services or business-oriented products (B2B) and 46.5% have developed business models based on the end consumer (B2C). Their application industries are diverse, highlighting the fields of health and wellness, culture and leisure, and proposals for digital transformation and business management. In addition, Minerva startups have registered 22 patents or utility models for their innovative creations to date.

Minerva selects the participants in an optimal quality process in which it analyses the viability of the business idea, the innovative nature, and the commitment of the team. Thus, 80% of the accelerated projects reach the commercial phase at the end of the programme and eight out of ten projects are transformed into business companies in the autonomous community of Andalusia.

The Minerva Programme is one of the most recognised business accelerators at a national level. This is indicated in the annual report prepared by FUNCAS on the services provided by business incubators and accelerators in Spain 2021/2022, which ranks Minerva as the first advanced acceleration entity in Andalusia and the second position in Spain.

On the verge of 10 years as a business accelerator, the programme has a completion rate of over 82%. Startups from all Andalusian provinces have participated, with Seville, Malaga and Granada at the forefront, and more than 550 entrepreneurs in these teams have decided to bet on their business ideas with the support of this benchmark entity.