What is insur_space?
Insur_space by MAPFRE is an innovation platform for those that hold the common objective of promoting collaboration between the entrepreneurial ecosystem, institutions linked to innovation and MAPFRE. As a member of the program you will have access to the following benefits:
The participants selected will work for 4 months with ecosystem experts to develop and implement new disruptive ideas that will have an impact on the industry.
An individualized mentoring plan will be designed for each startup with external mentors and experts, whose expertise will be aligned with the technology and startup sector.
Networking & Visibility
Periodically, networking sessions, workshops with experts and pitch days will be organized with the aim of giving visibility to participants and connecting them with the ecosystem.
Prototypes and Pilots
Startups will work with external mentors to develop appropriate prototypes and effective pilots in order to improve the value of MAPFRE to their clients or to resolve internal needs of MAPFRE.
During the Demo Day, startups will present their product and pilot results to MAPFRE’s board of directors, as well as gaining the visibility of the VCs and investors network.
The space of insure_space is located in the center of Madrid, where the startups will be in direct contact with MAPFRE teams and be immersed in the innovation ecosystem.
_about the program
We provide advisory and mentoring while helping startups develop than MVP
We pair startups with a MAPFRE business lines to develop a Pilot Program
_who should apply?
Any startup or company from anywhere in the globe, willing to carry out a real pilot with commercial products or services, in collaboration with MAPFRE‘s business units. We look forward to partnering with startups or companies at an early or advanced stage, who will have the opportunity to take out the most from our program.
We look for Creators, Builders and Boosters, the core pillars of insur_space.
Early stage startups or entrepreneurs with a prototype or MVP, willing to accelerate growth and speed up their solutions through an innovation program with one of the main players in the insurance sector
Startups with a validated MVP or a market-ready solution, with some market traction and looking for the next development stage, willing to collaborate with MAPFRE’s ecosystem and ready to scale their companies at an international level
Mature startups who have a commercial product, solid market traction and who are looking for further development within MAPFRE, which may require an adaptation of their solution
_how does it work?
We provide advisory and mentoring throughout the entire program, along with access to the right resources, data and knowledge to ensure each project meets its objectives.
The program starts with an Application and ends 4 months later with a Demo Day in front of MAPFRE’s top management and strategic partners who will assess each one of the pilots developed, in terms of results, impact and fit achieved within the corporation.
All applications are to be sent via the competition platform.
Applications will be sent to experts who will assess all projects according to different aspects relevant to the program.
We will then select the most suitable candidates to develop the pilots within the corporation.
Startups will meet the sponsors and mentors of the program to define objectives, methodology and timings.
We will focus on the best way to conduct all pilots during the program.
Startups begin to work in the program (mentoring, pitch days, events, speed dating with entrepreneurs and investors, etc).
pilot and testing
Startups begin to work on the pilots in our hub and together with MAPFRE’s team. Ongoing activities, workshops and events with mentors and experts will take place along the process.
At the end of each pilot we hold a demo day to evaluate the success of each program.
After the demo day, MAPFRE’s committee will review the results of each one of the pilots and decide future agreements with the startup.
_we have the answers to your questions
My startup is not specifically related to the insurance sector. Can I still apply?
The solutions that we’re searching for are not exclusively focused on the InsurTech sector. We are interested in working with and supporting the growth of any product or service with the potential to have an impact on the industry and our business.
I do not live in Madrid or in Spain – can I participate?
Yes! We are looking for startups and companies from all over the world, without geographic restrictions. If you need to apply for a Spanish work visa, let us know during the application process so that we can assist you as much as possible.
Do I have to offer part of my company or a percentage of my company’s shares to participate in the program?
No, but at the end of the acceleration process, if both parties are mutually interested, there will be the opportunity to take part in negotiations to establish alliances between both parties.
Can I submit more than one project per person/startup?
No. We are looking for startups and companies who can be fully dedicated during the process. If a company wants to participate in the program with another solution, it must be submitted separately in a future round.
I am currently working on my startup/project alone. Can I still apply?
In order to participate, the startup or company needs at least one person to be fully dedicated to the project. If your project only requires one person, then you are still eligible to apply. However, we positively value teams as they are more agile to advance during the program and implement pilot projects.
In order to apply does my startup or company need to be incorporated?
Yes. We are looking for established startups and companies who have already launched a project or who are about to launch it.
If you are an established startup and want to take your project to the next level with insur_space, we'd be happy to hear from you. Fill out the form and we’ll be in touch as soon as we can.