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Santander launches new challenge for businesses with innovative circular economy solutions

Support for startups, Startups

Banco Santander launches Santander X Global Challenge | Circular Economy Revolution, a global initiative alongside the Norrsken and Oxentia foundations for startups and scaleups in 11 countries (Argentina, Brazil, Chile, Germany, Mexico, Poland, Portugal, Spain, the UK, Uruguay and the US) that provide innovative circular economy solutions. The aim of this latest challenge is to help transform the world by optimizing the use of natural resources, reducing waste generation and driving the transition to a more efficient, sustainable and environmentally friendly circular economy.

Companies that wish to take part have until 9 May to apply to Santander X. Their solutions must focus on these four areas:

  1. Recycling, recovery and reuse of materials and waste: Companies that recover and reuse materials, reducing the use of natural resources, minimizing waste and transforming it into raw materials for other activities.
  2. New materials, and circular products and services: Eco-design solutions from their creation to the end of their useful life, focused on recyclability, reuse, recovery and innovation in new materials.
  3. New circular business and monetization models: Solutions that encourage the reuse and second life of products, reducing inefficiencies and creating value with collaborative and shared economy models.
  4. Renewable energies and smart grids: Companies that help optimize energy use, improve distribution efficiency, transition to renewable energies, and use of waste as an energy source.

According to Lucas Arangüena, Global Head of Sustainable Finance at Banco Santander, “We believe that the power of business and entrepreneurship can change the world. That’s why we want to help those who are leading the shift towards more sustainable business models to grow and build a better world for future generations”.

The 20 finalists will be announced on 23 May before an expert panel will choose the six winners, who will share EUR 120,000 in prize money: EUR 30,000 for the three winning startups (EUR 10,000 to each one) and EUR 90,000 for the three winning scaleups (EUR 30,000 to each one). They also get access to Santander X 100, an exclusive community of Santander X's most successful startups and scaleups; and Fintech Station, Banco Santander’s open innovation programme.

Fuente: Banco Santander

https://www.santander.com/es/sala-de-comunicacion/notas-de-prensa/2025/03/santander-lanza-un-nuevo-reto-a-empresas-que-aporten-soluciones-innovadoras-de-economia-circular
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