Leading Automotive Industry Accelerator Business Factory Auto (BFA) launches Sixth Edition of its Startup & Business Acceleration Programs

Business Factory Auto (BFA) is an initiative promoted by the Xunta de Galicia to accelerate and consolidate specialized projects in the automotive industry. They achieve this by transforming them into viable and scalable innovative companies that attract and retain talent, in turn, contributing to strengthening the position of the sector and increasing its international projection.

In BFA, entrepreneurs gain access to a workspace, financial support, training, and a unique ecosystem made up of tutors, mentors, and partners, among other agents related to the automotive sector and business. BFA also helps companies validate their product, service, idea, or project in a real automotive environment since it is the only industry-specific accelerator in Galicia, Spain.

Who Should Register for the Business Factory Auto Initiative

The Sixth Edition of the BFA Initiative calls on early-stage automotive startups and scaleups as well as mature companies in the automotive sector that develop technology solutions based on, but not limited to, the following areas:

• Big Data and Advanced Analytics
• Defect Detection and Prediction
• Energy Efficiency
• Smart packaging
• Ergonomics and exoskeletons
• Polyvalent claws
• Internet of Things (IoT) solutions
• Artificial Intelligence (AI) & Machine Learning (ML)
• Augmented, Virtual or Mixed Reality (AR, VR, MR, XR)
• Smart sensing
• Automated systems for the movement of materials
• Artificial intelligence vision

In response to the challenges caused due to the COVID-19 pandemic, BFA is looking for technology solutions and tools to overcome COVID-19, especially in industrial environments.

Which BFA Program Best Suits Your Business?

Acceleration Program

The acceleration program for startups, university, or company spin-offs not older than 3 years:

• The BFA Acceleration Program is specifically designed for entrepreneurs in the automotive industry.
• Lasting up to 9 months, program activities will focus on validating and developing a product or service, defining a business model, achieving the first sales, and boosting the team’s skills and abilities.
• Participating projects co-work alongside other entrepreneurial initiatives with comparable degrees of maturity and ranges of application, and they share training workshops, meetings, and experience interchange opportunities.

The Fifth Edition of the BFA Acceleration Program produced significant technology-driven solutions for the automotive industry. Last year’s projects focused on computer vision, advanced analytics, and industrial IoT (IIoT) solutions that enable:

• The analysis of the life cycle of EV batteries
• The design and manufacture of components with integrated sensors that allow the monitoring, collection, and analysis of IIoT data
• Flexible software development for the control of industrial systems and processes, using a robot as the master of the solution.

Consolidation Program

The consolidation program for startups, scaleups, university, or company spin-offs not older than 6 years:

• The BFA Consolidation Program will last up to 12 months and will provide training and mentorship to help participating projects reach the market and generate recurring sales or revenue.
• The program will be customized according to the specific needs of each project. Participants also have access to an extensive network of automotive players, financial aid, and a workspace in the incubator area of the BFA facilities.

The Fifth Edition of the BFA Consolidation Program produced significant technology-driven solutions for the automotive industry. Last year’s projects focused on AI & ML algorithms, additive manufacturing solutions, and IoT solutions that enable:

• Cloud platform integrations and management of multiplatform AR solutions for industry 4.0.
• Deep Learning-based software solutions to detect and digitize text, codes, and symbols in complex logistics environments.
• The monitoring of compressed air and welding gas installations for early detection of leaks and consumption outside the usual range.

What You Get by Applying to the BFA Programs

• BFA offers financial support of up to € 375,000 per project.
• Workspaces that combine coworking areas, office space for companies in consolidation, meetings, training rooms, dining room, and more.
• BFA directly connects you with the automotive sector by facilitating access to new markets and enabling connections with other sectors.
• Networking at BFA generates synergies between the participating projects and the attending automotive community as well as new business opportunities.
• Mentoring & training programs include tutoring, mentoring, and training sessions that are taught by professionals of the automotive sector.
• BFA offers Management Team support from leading industry professionals and entrepreneurs.

Application Procedure & Timeline: Registrations close on 22 September 2021

Interested applicants and projects must fill in the registration form provided on the BFA website. Only the information provided in the form will be taken into account to evaluate projects that comply with the predefined conditions and requirements.

The registration form must be accompanied by a video from the project developer explaining their case in no more than 4 minutes.

The aim of the video is to explain the project, provide details of the team, define the added value of the proposal, the elements that differentiate it from its competitors, the main milestones achieved, and the next steps or means necessary for its implementation.

• Shortlisted participants for the BFA Initiative will be announced by 15 November 2021
• Both the Acceleration and Consolidation programs will commence on 15 December 2021.

Don’t wait, apply for the BFA Initiative today!

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