Santander Group and Formula 1® launch programme to develop sustainable solutions for the automotive sector
Santander X Global Challenge | Countdown to Zero is a programme targeted at start-ups and scale-ups from 11 countries.
The six winning projects will receive prizes worth a total of EUR 120,000 and access to the Santander X 100, a prime global community bringing together the most important Santander X projects.
Applications can be submitted until 8 September at santanderx.com.
Santander Group and Formula 1® are launching a global challenge targeted at start-ups and scale-ups from 11 countries (Germany, Argentina, Brazil, Chile, USA, Spain, Mexico, Portugal, Poland, UK and Uruguay). The programme aims to develop innovative and sustainable solutions for the automotive sector in various areas: mobility, logistics and transport, as well as carbon offsetting.
Santander has signed a three-year collaboration agreement with F1® to promote sustainability initiatives in the automotive sector. The first year will see the Santander X Global Challenge | Countdown to Zero, in which F1® will play a key role: an F1® representative will sit on the challenge jury and winners will be promoted on the F1® website and social media.
The partnership aligns with F1®’s commitment 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 and putting 100% sustainable fuels into use by 2026.
Sign-up for the Santander X Global Challenge | Countdown to Zero will be open until 8 September at www.santaderx.com and participation start-ups and scale-ups can submit their projects in one of the following three categories:
- „On the track” – for projects on the future of sustainable, zero-emission mobility.
- „On the move” – for projects with solutions that make logistics and transport by land, sea and air more environmentally sustainable.
- „Balance to zero” – for innovative carbon offset alternatives to compensate carbon footprint.
Thanks to Santander X, thousands of entrepreneurs can bring their ideas to life faster and on a larger scale. Our agreement with Formula 1 will take this support to the next level, giving new businesses the opportunity to join forces with one of the world's most innovative sports and support the transformation towards a low carbon economy. We are delighted to be part of this programme and wish all entrepreneurs success.
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.
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.
Santander Group 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.
Formula 1®
The first Formula One® races were held in the 1950s and it is the most prestigious competition in the Formula 1® racing began in 1950 and is the world’s most prestigious motor racing competition, as well as the world’s most popular annual sporting series. Formula One World Championship Limited is part of Formula 1® and holds the exclusive commercial rights to the FIA Formula One World Championship™. Formula 1® is a subsidiary of Liberty Media Corporation (NASDAQ: LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) attributed to the Formula One Group tracking stock. The F1 logo, F1 FORMULA 1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX, PADDOCK CLUB and related marks are trademarks of Formula One Licensing BV, a Formula 1 company. All rights reserved.
