The Madrid Impacta innovation awards focus on Covid-19 solutions this year

The top three proposals are set to receive 8000 euros each

The press service of the Madrid Municipality announced today that proposals are being accepted from entrepreneurs and associations for the IV edition of Madrid Impacta, the now-annual innovation contest. This year, it comes as no surprise that the theme of the awards is dominated by the coronavirus pandemic which is why the event wants to encourage solutions that affront this contemporary problem.

Covid-19 has become one more aspect in the range of challenges to modern life

It was stated that individuals and small and medium enterprises can submit their project proposals until 27 September. The idea of the organizers is to combine innovative solutions that will simultaneously mitigate the effects of the pandemic and will also contribute to the UN sustainability objectives for 2030.

This means that a wide range of developments is being welcomed. These can span across the fields of social, economic and scientific advances, given that the coronavirus has turned from a purely sanitary to a socio-economic issue around the world.

Prospective candidates should be aware that there are certain conditions for participation in the competition.

It is necessary to have a well-developed project or an idea, accompanied by a business plan that explains how the product or service would enter and affect the market. The projects will have to address economic needs, improve environmental performance, or better employability in different sectors, such as tourism, that have been affected by Covid-19.

Likewise, people or organizations working on the sanitary or educational challenges that have arisen in the wake of the epidemic are also invited to submit proposals.

The top 3 projects will receive a grant of 8000 euros each, provided from the municipal fund for supporting entrepreneurship in the Spanish capital. Furthermore, the top 5 finalists will get consultation advice from experts and more visibility on social media.