What is BFA?

Business Factory Auto (BFA) is an initiative promoted by the Xunta de Galicia through the Galician Innovation Agency (GAIN), the Galician Institute for Economic Development (IGAPE) and the Collective Investment Undertakings of the Closed-End Type (Xesgalicia); the Free Trade Zone Consortium of Vigo (CZFV) and Vigo Activo Sociedad de Capital Riesgo, SA SME (VIGO ACTIVO); the Galician Mobility and Automotive Cluster Foundation (CEAGA) and Stellantis. Its objective is to accelerate and consolidate specialised projects in the mobility and automotive industry and to transform them into viable and scalable innovative companies that attract and retain talent; thereby contributing to strengthening the position of the sector and increasing its international projection.

In BFA entrepreneurs will have at their disposal a workspace, financial support, training and a unique ecosystem made up of tutors, mentors, partners among other agents; all of them related to the automotive & mobility sector and business.

BFA Programmes

Acceleration programme

An Acceleration Programme specifically designed for entrepreneurs in the mobility and automobile industry. Lasing up to 9 months, planned 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 can install at the co-working area alongside other entrepreneurial initiatives with comparable degrees of maturity and ranges of application, and they will all share training workshops, tech-meetings, and experience interchange opportunities.

Consolidation programme

The Consolidation Programme will last up to 12 months and provide training and mentorship to help participating projects reach the market and generate regurring sales/revenue. The programme supporting this will be customised according to the specific needs of each project, which will also have access to an extensive network of players in the industry, financial support, and a workspace in the accelerator area of the BFA facilities.

Timeline

What do we offer?

WORKSPACE

Participating projects may be located at the premises provided by the Free Trade Zone Consortium of Vigo to the BFA in the port area of Bouzas (Vigo) situated very near the facilities of CEAGA and the Stellantis Vigo Centre. The premises have internet access and meeting rooms.
The Free Trade Zone Consortium of Vigo likewise offers training premises to the BFA at the Porto do Molle Business Centre, to organise the training sessions foreseen in the program.

POSSIBILITY OF COLLABORATION IN THE SECTOR

Participation in the program could help your company/project to develop and get greater visibility, in order to reach the sector's OEMs and tier suppliers. Business Factory Auto is the gateway to the automotive industry in Galicia for companies driven within the accelerator.
Teams that successfully complete the pilot test will be able to continue their relationship with the company, under the terms and conditions they agree with each other.

Financial support

Up to 625,000 € per project:

  • Up to 125,000 € in Acceleration Phase, 25,000 € from a grant without refund conceded by GAIN and two participatory loans of up to 50,000 € conceded by Vigo Activo and Xesgalicia. In case of loans, a direct participation in the capital of the company may be valued.
  • Up to 500.000 € in Consolidation Phase through two participatory loans conceded by Xesgalicia and Vigo Activo. A direct participation in the capital of the company may be valued.

Networking

Organization of speeches, conferences and / or round tables related with technologies, markets, financing that facilitate the generation of synergies between the participating projects and the attendant people, as well as the search for new business opportunities. These kinds of sessions not only promote the participants' communication and interaction with other entrepreneurs, but also allow them to access experiences, contacts and knowledge.

Training and mentoring

Training: BFA, in collaboration with the IE Business School, has designed and developed the Advanced Management Program to provide top quality, proven, and recognized business administration and management training, to participants in the BFA acceleration and consolidation stages.
Mentoring: a mentor will provide personalised, tailored consultancy to each project, and accompany project members throughout the acceleration/consolidation stages. Mentorship will be in two modalities: technical and management.

Management team support

The participants have the support and advisement from the management team (lead by CEAGA) that is composed by professionals of automotive sector and entrepreneurship who orient to the participants during all phases of the BFA initiative, since the call phase until the acceleration and consolidation phase.