Madrid / Spain

Madrid / Spain Challenge

Prize 2019

Travel on Airplane

Travel grant to the Awards Ceremony

Covering the travel and accommodation expenses for the Awards Ceremony 2019

team meeting

Access to experts, public-private funding, networking events by madri+d ​


Business incubation package

sponsored by Fundación para el Conocimiento madri+d valued at EUR 5,000


ESA BIC Madrid

Invitation to apply for admission to the European Space Agency’s Business Incubation Centre (ESA BIC) Madrid Region, and eligibility for an additional EUR 50,000 in incentive funding from ESA and local partners for product development

Pensive female copywriter dressed in trendy clothing watching via webinar website video on laptop computer connected to 4G internet and writing down notes while sitting in coffee shop

Coaching & Consulting

Dedicated coaching, business consulting and training in management skills


Media coverage

E GNSS Accelerator

E-GNSS Accelerator support

Chance to win one of three tailored E-GNSS Accelerator incubation prizes worth EUR 62,000 and an E-GNSS Accelerator crowdfunding prize worth EUR 35,000 (find out more)

Awards 2018

An extra EUR 10,000 cash prize

If your idea gets selected as Galileo Masters 2019 Overall Winner


Madrid / Spain

aerospace activity

Accounts for around 92% of the country’s aerospace activity, featuring components suppliers, specialised engineering, major component integrators, and satellite service providers

economic leadership

Maintains its economic leadership by increasing its attractiveness as a headquarters for not only domestic and foreign companies but also students and entrepreneurs

Research & Development

Is home to a large number of public and private universities and boasts Spain’s highest level of investment in R&D


The Madrimasd (madri+d) Foundation is an instrument used by Comunidad de Madrid to support the creation and early consolidation of new technology-based firms


+34 (0) 91 7816570

Madri+d Foundation

Eduardo Díaz Sánchez


Regional Organiser

Madri+d Foundation

Madri+d Foundation

Since 2002, Madrimasd has aided the foundation of more than 500 of these new companies, from the inception of their business models to the effective deployment of their activities. Here, the foundation leverages its strong ties with other initiatives of universities, science and technology centres, and science parks. The newly founded firms, meanwhile, have generated more than EUR 150 million in total turnover and directly created more than 2,800 highly skilled jobs while achieving an 83% survival rate. Madrimasd works very closely with its network of university, incubation science, and entrepreneurial institutions to improve the conditions for science-based entrepreneurship. This includes a wide variety of dissemination activities in the region.

Regional Partners

ESA Business Incubation Centre (BIC) Madrid Region

ESA Business Incubation Centre (BIC) Madrid Region

ESA BIC Madrid Region is the Business Incubation Centre of the European Space Agency (ESA) and the Community of Madrid, coordinated by the madri+d Foundation, which provides funding, business and technical assistance to entrepreneurs (incubatees) in order to set up their business using space technology for general non-space industrial, scientific and commercial uses (spin-off) or using non space technology for proposing products and services for the space sector (spin-in). The ESA BIC Madrid Region is 50% co-financed by ESA and by the Regional Ministry of Economical Affairs, Employment and Treasury. ESA funding has been guaranteed through the Spanish Delegation at the ESA, consisting of the Ministry of Economy, Industry and Competitiveness through its General Secretariat of Industry and Small and Medium Enterprises, and the Centre for the Development of Industrial Technology (CDTI). Regional and national partner institutions include: Madrid Aerospace Cluster, Madrid Aeronautical and Space Platform (MPAE), facilitating access to more than 50 partner companies; the Spanish Official Association of Telecommunication Engineers (COIT) with more than 12,000 members and the National Institute of Aerospace Technology (INTA). Business incubation is offered at four technology houses promoted by five of the most renowned public universities and by S&T Centers, with offices and laboratory space for entrepreneurs: UPM , PCM, UC3M and URJC.

Colegio official de Ingenieros de Telecomunicatión (COIT)

The Official College of Telecommunications Engineers (COIT)

The Official College of Telecommunications Engineers (COLEGIO OFICIAL DE INGENIEROS DE TELECOMUNICACIÓN - COIT) is a national publicly registered entity whose main goals, as delegated by the Government are; the organization of how Telecommunications engineers perform their profession, the exclusive representation of said profession and defending the professional interests of its members, while promoting the advance and availability of all techniques of said profession.
Since its inception in 1967, COIT has been undertaking a multitude of efforts aimed at reinforcing the professional competence of the engineers it represents as well as establishing its place in society as a whole, while acting as the profession’s legal representative and a fundamental instrument in the current and future development of telecommunications and the Information Society.

E-GNSS Accelerator Partner

Logo European Union

European Commission

The prize pool is co-financed by the European Commission’s DG Grow. The aim of the “E-GNSS Accelerator” is to foster the market uptake of Galileo/EGNOS and high technologies in EU28, the EEA and ENP countries.


Discover all previous winners of the Madrid / Spain Challenge

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