The SPEGC collaborates with the Archipelago Challenge and will select a digital disruptive project to receive investment

Archipelago Challenge

The Corporation for the Economic Development of Gran Canaria, SPEGC, will collaborate this Friday with the Archipelago Challenge initiative, an open call to select digital disruptive projects that will provide global solutions for large scale markets.

The call was launched by Archipelago Next, a 100% Canary investment fund specifically devoted to digital businesses, which is intended as a co-investment tool for businesses within this industry that are in the growth stage.

The fund is driven by Canary business groups which are leading their respective fields and which provide all those participating in it with access to expert business knowledge in the fields of travel and tourism, food and retail, aircraft maintenance, ports and logistics, energy, the automotive industry and mobility and cybersecurity.

After taking part in meetings with the eight businesses chosen in this call, to inform them of the benefits of setting up business in Gran Canaria and the fiscal advantages the island offers, the SPEGC will also participate this Friday during a day when the eight finalists are to be revealed, from among whom just one winner will be selected.

Before the winner is announced, three talks will be given, by Inbal Orpaz, founder of We Work Israel, José Pacheco, digital business expert at The Valley, and Concepción Galdón, Innovation expert at the Business Institute, and there will be a round table moderated by the director of Archipelago Next, Miguel Quintanilla, in which the managing director of the SPEGC, Cosme García, director of Wayra España, Andrés Saborido, and Project Manager at Lanzadera, Víctor Rahona, will take part.

A 100% Canary investment fund

The Archipelago Challenge selects the projects in which Archipelago Next invests, searching mainly for digital disruptive projects with drive that provide global solutions for large scale markets that have a dedicated team, with talent and an international focus.

The fund invests in these projects as convertible loans, and offers these businesses access to expert business knowledge from the partners as well as a link to other funds for the following rounds and the possibility of relocating to Gran Canaria, a low taxation location with one of the world’s best climates.

Following a period of receipt of investment proposals, Archipelago Next will analyse the projects submitted and will preselect 20 of them, out of which eight will go through to the third and last stage. The Archipelago Next Investment Committee will select, this coming Friday, the winner of this call from these eight finalists.