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IE University startups attract €80 million in funding

IE University startups attract €80 million in funding | IE University

Rhyde, Refuge and SafetyIn, the winning startups of IE Venture Day 2021.

IE University’s best startups have attracted funding worth €80 million over the last nine years at Venture Days, the institution’s global event to promote entrepreneurship. In the latest edition, fifteen finalists presented their projects to a jury and an audience of international investors and entrepreneurs.

Among the winners are startups created by IE University undergraduates such as Rhyde, which aims to reduce the carbon impact of urban transportation through sustainable micro mobility solutions; Refuge, developed to help the community of scooter manufacturers and users to evolve under an alliance based on sustainability and biodiversity; and SafetyIn, created by IE Business School International MBA students to increase the safety of women in cars and, ultimately, save the lives of women drivers and passengers.

This year, with the support of MAPFRE, IE University is launching the Insurtech Lab program, focused on innovation in the insurance sector. Open to IE students and alumni, of the five teams selected from nearly two hundred candidates, and after ten weeks of work, three projects were shortlisted: MyAllergeaze, to improve the quality of life of people with food allergies; Chido, a fintech solution to facilitate everyday spending needs, and Giraez, a cash-to-service solution for sending money between people in different countries, which won this first edition of the Insurtech Lab.

“At IE University, we encourage our students to pursue their entrepreneurial ambitions, whatever they may be.”
Isabela del Alcázar, Global Head of Entrepreneurship at IE University

“Startups can lead the drive for sustainability, and they are doing just that today in the fashion, energy, banking, and other sectors. At IE University, we encourage our students to pursue their entrepreneurial ambitions, whatever they may be. Ninety-five percent of our MBAs are looking for a change in their professional lives, and entrepreneurship offers many options. Obviously, not everyone will become an entrepreneur; but 30% (check) of our alumni will; the highest percentage in our cluster,” commented Isabela del Alcázar, Global Head of Entrepreneurship at IE University.

For Joan Cuscó, MAPFRE’s Global Director of Transformation, alliances like this with IE facilitate a response to “the changing demands and new needs of users and, at the same time, break the valley of death between the academic world and the world of entrepreneurship.”