Photo caption for the photo on the right: Gregorio Rabanal (Chairperson of HUNOSA), José Armando Tellado (General Manager of CAPSA FOOD) and Antonio Crespo (Chairperson of SODECO).
- Their objective is to jointly support newly-created business entrepreneurial projects and to create alternative employment to mining.
- In addition to facilitating investments and granting loans and guarantees, they will set up business incubators and an entrepreneurship and innovation hub.
CAPSA VIDA (CAPSA FOOD’s impact investment vehicle) and Sociedad para el Desarrollo de las Comarcas Mineras, S.A. (SODECO) have signed a collaboration agreement on innovation, entrepreneurship and co-investment for start-ups and micro business projects to promote economic development and environmental clean-up in Asturias mining regions. Present at the signing ceremony was the Chairperson of Grupo Hunosa, Gregorio Rabanal, accompanied by Antonio Crespo (Chairperson of SODECO and Corporate General Manager of Grupo Hunosa) who signed the agreement with the General Manager of CAPSA FOOD, José Armando Tellado.
The purpose of this agreement is to establish a framework for mutual cooperation between both entities that raises awareness about the activity developed by SODECO, focused on contributing to the diversification, growth and consolidation of the economic structure of the central Asturias mining region, “supporting and stimulating the creation of companies and contributing towards strengthening existing ones, fostering the entrepreneurial spirit and creating alternative employment to mining in its area of activity.”
The main action lines include promoting investments through shareholdings of companies to be incorporated or existing companies, granting loans or guarantees for creating industrial infrastructure and providing services to companies, industrial land, company centres, etc.
Company incubators will be created and an entrepreneurship and innovation hub will be launched to accompany entrepreneurs in developing their idea and supporting them in each step required to create a company and complete the actions included in the agreement.
The purpose of the alliance between CAPSA and SODECO is to jointly support newly created entrepreneurial projects by granting equity loans or similar funding instruments.
According to José Armando Tellado, General Manager of CAPSA FOOD; “CAPSA VIDA’s objectives include working with organisations such as SODECO whose objective is to promote economic renewal in Asturias. We believe that there are opportunities in the agri-food sector that serve to think optimistically about a possible future of quality employment and economic prosperity.”
The Chairperson of SODECO, Antonio Crespo, said; “Hunosa Group is committed to business reactivation in Asturias mining regions through instruments such as Hunosa Empresas and SODECO, in this case jointly with the Asturias Principality through the Regional Promotion Company, promoting agreements and collaborations such as the one presented together with CAPSA VIDA, in addition to continuing its activity of funding business projects and developing industrial land within its scope of action”.
About CAPSA VIDA
CAPSA VIDA is the CAPSA FOOD investment tool approved by the CDTI program, it has invested more than one million euros into initiatives that strengthen activity in rural areas and the health field with the aim of generating a positive impact on society aligned with the company’s corporate purpose. The participation range on the start-ups in which it has shareholdings is between 5 and 25% through capital and knowledge contribution to promote technical collaboration with the investees. During its first year of life, it has formed alliances to develop Impact investment, regionally with the Galicia BFFOOD and the Asturias CEEI, and throughout Spain with the Ship2b Foundation. It is also developing joint projects with other investment mechanisms such as CDTI INNVIERTE, which seeks to stimulate investments in Spanish technological and innovation companies.
La Sociedad para el Desarrollo de las Comarcas Mineras, S.A. (The Company for Mining Region Development) (SODECO) is a trading company owned by Sociedad Regional de Promoción del Principado de Asturias, S.A. (SRP) and by Hulleras del Norte, S.A. (HUNOSA).
It was incorporated on 13 October 1988 by virtue of the agreement reached between the Asturias Principality, HUNOSA and the Unions, during the negotiation of the HUNOSA Future Plan 1987-1990, in which it was agreed to create (1) a commercial company to promote new economic activities in HUNOSA’s area of activity, whose capital stock would be subscribed and paid-in 50% by the Asturias Principality, which was implemented through the SRP, and the other 50% by HUNOSA.
Its objective is to contribute towards diversifying the economic structure of the central Asturias mining region, supporting the creation of companies and strengthening existing ones, promoting the entrepreneurial spirit and creating alternative employment to mining in its area of activity.