Crèdit Andorrà launches the Innovation Hub, a pioneering project to generate and share knowledge between the fabric of small and medium-sized businesses in the principality and the thriving start-up sector. The objective is to find opportunities for mutual collaboration and favor the pace of business. The project, in which several areas of the entity have participated transversally, allows the different economic agents, professionals and companies to be brought together with the common objective of innovating in the network and generating new business options.
The project helps, on the one hand, for companies to identify new challenges. After the analysis, they are proposed collaborations with emerging companies identified and that have a potential for business travel. It is hoped that this alliance will be able to respond to the challenges and benefit from the knowledge that can be brought to the table on new trends, technology and agility.
Start-ups are offered growth opportunities by contacting companies with which they could open avenues of collaboration, support and consulting in banking matters.
Crèdit Andorrà, the country's leading financial institution, intends to position itself with this project at the forefront of trends that are part of the new digital economy, as a result of the development of initiatives to respond to new customer needs.
The bank seeks to promote and facilitate a relevant ecosystem around entrepreneurship and attractive for investment. Martí Alfonso, director of the Banking Business Area at Crèdit Andorrà, highlights that “this project is one more step in our desire to promote an innovative ecosystem in Andorra. Our goal is to share the knowledge generated by both companies in the country and the new players that are start-ups, and foster collaboration between the different agents to generate added value for clients and also for the country”.
The initiative is in line with the country's desire to complement the economy with new activities with high added value. The project began at the beginning of the year with an analysis that identified more than 700 companies in the country that could be part of the Innovation Hub, as well as 42 start-ups from 97 business sectors. Using Crèdit Andorrà's innovative methodology to identify challenges and solutions that optimize networking, a pilot test by the bank has led to eleven collaboration proposals for seven companies and five start-ups. The objective is for the project to continue growing, and for this reason it collaborates with several coworking spaces in Andorra.