Banco Santander is launching a global challenge for start-ups and scale-ups from 11 countries (Germany, Argentina, Brazil, Chile, the US, Spain, Mexico, Portugal, Poland, the UK and Uruguay) in order to find innovative and sustainable solutions for the automotive industry in different areas: mobility, logistics and transport, and carbon offset alternatives, supported by Formula 1®.
Santander has signed a three-year collaboration agreement with F1® to promote various sustainability initiatives that contribute to the sustainable development in the automotive industry. In its first year, the initiative will run Santander X Global Challenge | Countdown to Zero, in which F1® will play a major role on the challenge’s jury and by promoting the winning innovators on its website and social media.
The partnership aligns with the commitment made by F1® to be Net-Zero Carbon by 2030 as part of its sustainability strategy, which addresses how the wider sport can reduce carbon, including through innovative solutions for freight and logistics, as well as the introduction of 100% sustainable fuels in 2026.
Sign-up for the Santander X Global Challenge | Countdown to Zero, will be open until 8 September at www.santanderx.com and participating start-ups and scale-ups, can submit their projects in one of these three categories:
- ‘On the track’: for projects on the future of sustainable mobility with zero emissions.
- ‘On the move’: for projects with solutions that make logistics and transport by land, sea or air more environmentally sustainable.
- ‘Balance to zero’: for innovative carbon offset alternatives to compensate carbon footprint.
“Santander X is helping thousands of entrepreneurs develop their ideas further and faster. This agreement with Formula 1 takes that support to a new level, creating an opportunity for new businesses to join forces with one of the most innovative sports in the world and support the transition to a low carbon economy. We are delighted to be a part of the program and wish all the entrepreneurs every success.”
Juan Manuel Cendoya
Global Head of Communications, Corporate Marketing and Research at Banco Santander
“The green transition is the most urgent challenge we face, so innovation and entrepreneurship play a major role. In Santander, we have been firmly committed to entrepreneurship for 25 years. Last year we supported more than 23,000 emerging ventures, microentrepreneurs and SMEs to receive training and connect them with the resources they need to grow.”
Global Head of Santander Universities
“As Formula 1 continues the journey to become net-zero carbon by 2030, it is great to collaborate again with Banco Santander, who have a long-standing relationship with the sport. This challenge, and more broadly our partnership, celebrates what makes the sport so special through tech and innovation as we look to create a more sustainable world.”
Managing Director of F1®
Participating projects will face several evaluations until reaching the final phase in October, where the 20 best solutions, 10 start-ups and 10 scale-ups that will present their initiatives to an international jury composed of experts from different sectors connected to the challenge, including a member of the F1®.
Finally, the six winning projects will be selected, and will be awarded prizes totalling 120,000 euros: 30,000 euros for the three winning start-ups (10,000 euros each) and 90,000 euros for the three best scale-ups (30,000 euros each). All of them will gain access to Santander X 100, the prime global community of top Santander X entrepreneurial projects, which connects them with the resources they will need to grow including: advice and training, capital, customers, talent, networking and other valuable resources.
The winners will present their solutions to senior personnel within F1® and will have the support of Formula 1® in the promotion of their solutions on its official social media platforms and official website www.formula1.com .
Banco Santander and Formula 1 have a long-standing relationship with the bank a partner of the sport from 2007 to 2017. It is now an official sponsor of Scuderia Ferrari, having signed a new alliance this season that includes to offer a wide range of solutions to support Scuderia Ferrari’s plans to go carbon neutral by 2030. The bank had a successful eight-year alliance with Scuderia Ferrari from 2010 to 2017.
Banco Santander and its support for education, entrepreneurship and employment
Banco Santander is firmly committed to progress and inclusive and sustainable growth with a leading and consolidated commitment to education, entrepreneurship and employment. It has been developing through Santander Universities for more than 25 years and distinguishes it from the rest of the world’s financial institutions. Since its launch, the bank has earmarked more than 2,100 million euros and has supported more than 790,000 students, professionals and entrepreneurial projects through agreements with nearly 1,000 universities and institutions in 15 countries.
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