Social enterpreneurship in Spain: Momentum’s new edition

BARCELONA | ESADE and BBVA Foundation in collaboration with PricewaterhouseCoopers on Wednesday opened the second edition of Momentum Project 2012. The initiative aims to contribute to the development of social entrepreneurship in Spain, creating a support network for these companies to consolidate, grow and increase their impact. In the first edition, Momentum funded seven projects with a €3 million capital injection through a finance tool designed by BBVA.

The presentation in Barcelona gathered the director of BBVA Social Action and Institutional Sponsorship Lidia del Pozo, the director of university programmes and professor of Business Policy at ESADE Alfred Vernis, and two entrepreneurs from the last edition: Teixidors (a cooperative firm dedicated to the development of woven fabrics) and DAU (the first Spanish social company in obtaining legal authorisation as pharmaceutical manufacturer).

“All agreed that social enterprise is beginning to be considered fundamental in social and economic systems, as well as a possible solution to the crisis, as it is capable of responding to global challenges (aging, employment, education) with competitive and profitable business model that can detect unmet social needs and create new jobs.”

BBVA recognised that

“In a context of economic and social difficulties such as the present, there is an urgency to find new references to detect opportunities for improvement.”

The development of a programme to scale the impact of social entrepreneurs in Spain and the creation of an ecosystem of exchange and collaboration has so far received limited interest in the corporative and finance sector, but Momentum Project stands as an exception. In each edition, 10 entrepreneurships are awarded after having demonstrated their viability, impact capacity and growth potential.

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