Global Challenge Ignites Circular Economy Innovation: Santander, Norrsken & Oxentia Empower Startups and Scaleups

Global Challenge Ignites Circular Economy Innovation: Santander, Norrsken & Oxentia Empower Startups and Scaleups

(IN BRIEF) Banco Santander has launched the Santander X Global Challenge | Circular Economy Revolution in partnership with the Norrsken and Oxentia foundations, targeting startups and scaleups from 11 countries. The challenge invites companies that are focused on enhancing the circular economy by innovating in recycling, creating eco-friendly products and services, developing novel business models, and optimizing renewable energy usage. Interested businesses must apply by 9 May, and their solutions will be evaluated in four distinct areas designed to reduce waste and boost resource efficiency. After the application phase, 20 finalists will be announced on 23 May, with an expert panel selecting six winners who will share a total prize fund of EUR 120,000—allocated to both startups and scaleups. Winners will also benefit from exclusive access to the Santander X 100 community, Banco Santander’s Fintech Station, and a one-year membership with Norrsken in Barcelona, all designed to further empower innovative ventures in the circular economy.

(PRESS RELEASE) MADRID, 27-Mar-2025 — /EuropaWire/ — Banco Santander, in collaboration with the Norrsken and Oxentia foundations, has launched the Santander X Global Challenge | Circular Economy Revolution. This global initiative targets startups and scaleups across 11 countries—Argentina, Brazil, Chile, Germany, Mexico, Poland, Portugal, Spain, the UK, Uruguay, and the US—that are developing innovative solutions for the circular economy. The challenge seeks to drive a transformation by maximizing the use of natural resources, cutting down waste, and promoting a more efficient, sustainable, and environmentally friendly economic model.

Participants are invited to apply until 9 May with projects that focus on one or more of four key areas: the recycling, recovery, and reuse of materials and waste; the creation of new materials and circular products and services through eco-design; the development of innovative circular business and monetization models; and the advancement of renewable energy solutions and smart grids.

Lucas Arangüena, Global Head of Sustainable Finance at Banco Santander, commented, “We believe that business and entrepreneurship hold the key to transforming our world. Our aim is to support innovators who are championing sustainable business models, enabling them to scale and create a better future for upcoming generations.”

Following the application period, 20 finalists will be revealed on 23 May. An expert panel will then select six winning projects that will share a total prize pool of EUR 120,000—divided equally as EUR 30,000 each for three winning startups and EUR 30,000 each for three winning scaleups. In addition to the cash prizes, the winners will join the exclusive Santander X 100 community, gain access to Fintech Station—Banco Santander’s open innovation program—and enjoy a year’s membership with Norrsken in Barcelona.

Santander and its support for education, employability and entrepreneurship
Banco Santander has been a pioneering stalwart of education, employability and entrepreneurship for almost 30 years, standing out among the world’s financial institutions. Santander has deployed over EUR 2.4 billion to these areas and given scholarships and grants to more than 3.7 million people and businesses through agreements with nearly 1,200 universities (www.santander.com/universidades).

Against this backdrop, it helps companies grow and transform through the stages of their life cycle on the Santander X global platform, which offers a wide range oftools and non-financial services such as training programmes, online courses, discounts, exclusive events, challenges and awards, and other benefits.

Norrsken Barcelona
Norrsken Barcelona is a non-profit foundation that is building a global impact ecosystem where entrepreneurs can find the capital, network and knowledge they need to make a positive change.

The Hub is part of the Norrsken Foundation, founded by Niklas Adalberth, which has five funds with more than USD 1 billion in assets under management invested in impact startups, two other global Hubs and hosts Impact/Week.

Oxentia Foundation and its commitment to innovation and global entrepreneurship
The Oxentia Foundation was created to support Oxentia’s goal to address global inequalities through innovation and entrepreneurship. Oxentia has organized international entrepreneurial innovation competitions and awards, and has also provided advice to entrepreneurs to help bring science and technology projects to market, which contribute to achieving the UN Sustainable Development Goals. Oxentia was born out of the University of Oxford’s technology transfer company, Oxford University Innovation, with the aim of delivering specialist innovation management services to public and private sector clients worldwide. Its approach is backed by Oxford University’s 30-plus years’ experience supporting academic innovation and entrepreneurship in over 70 countries.

Media Contact:

Corporate Communications
Ciudad Grupo Santander, edificio Arrecife, planta 2
28660 Boadilla del Monte (Madrid).
comunicacion@gruposantander.com
www.santander.com – Twitter: @bancosantander

SOURCE: Santander