Both entities launch a global contest for emerging companies with the aim of promoting initiatives that contribute to the sustainable development o
Both entities launch a global contest for emerging companies with the aim of promoting initiatives that contribute to the sustainable development of the automotive industry.
Banco Santander and Formula 1 have launched a global contest for ‘startups’ and ‘scaleups’ from 11 countries with the aim of finding innovative and sustainable solutions for the automotive world in different fields: mobility, logistics and transport, and carbon emission compensation alternatives. The sustainable commitment of both will last for 3 years.
The first year the initiative will consist of the launch of the challenge ‘Santander X Global Challenge | Countdown to Zero’, in which F1® will have a role as part of the jury of the call and “promoting the most outstanding initiatives”.
Formula 1 commercial director Brandon Snow noted that “As Formula 1 continues its journey to net zero carbon emissions by 2030, it’s great to collaborate with Santander againwhich has a long relationship with sport”. Banco Santander has been the official sponsor of Scuderia Ferrari since 2021 and was already so between 2010 and 2017.
Collaboration aligns with F1’s commitment to achieve net zero carbon emissions by 2030 as part of its sustainability strategy, which includes the introduction of 100% sustainable fuels by 2026 and innovations in transport and logistics that will improve emission reductions. The call will be open until September 8, where the ‘startups’ and ‘scaleups’ will be able to present their projects linked to one of three categories.
First of all, andis the category ‘on the track‘ for projects related to the future of sustainable mobility with zero emissions. The category ‘On the move‘ for projects that provide solutions that increase environmental sustainability in the field of logistics and transport, whether by road, sea or air. Finally, the categorybalance to zero‘ to generate innovative alternatives to offset the carbon footprint.
The participating projects will go through different evaluation processes until they reach the final phase in which the 20 best solutions, 10 startups and 10 scaleups will compete, presenting their initiatives in October before an international jury made up of experts from different sectors .
Finally, the six winning projects will be chosen, who will receive 120,000 euros in prizes: 30,000 euros for the three winning startups (10,000 euros each) and 90,000 euros for the three best ‘scaleups’ (30,000 euros each).