FAQ's

NIU programme

MODEL OF COLLABORATION WITH ENTREPRENEURS

The NIU Programme features the following phases:

Fases

1. SELECTION OF PROJECTS


The project selection phase is divided into three blocks: REGISTRATION, SELECTION AND AWARD, AND LANDING.

REGISTRATION
  • Download the registration form from our website and fill it in. Please include any further information that you think could be of interest for us to evaluate your proposal. Be creative in your presentation!
  • Please show us any prototypes or mock-ups you may have, or if your project is already underway!
  • Registration is through the contact email: info@niu.ad.
  • The material provided will be dealt with confidentially by NIU and by all its collaborators.
  • Once your registration has been sent, it may not be changed.
  • If you do not have a residence/work permit in the Principality of Andorra, you will be asked to attach to your registration a scanned police criminal history certificate from your country of origin and from that of residence, duly apostilled, for the purposes of assessing whether or not an application may be submitted for this residence/work permit in accordance with the regulations applicable in Andorra.
SELECTION AND AWARD
  • The NIU Programme team will evaluate your project and contact you if any further information is required.
  • If your project features among the best proposals, we will contact you to arrange a personal interview to find out more about you, both as an entrepreneur and about your project.
  • The NIU Programme will notify all the participants in the call for projects of the result of the selection process.
  • The selected projects will also be published. If your project features among them, the details published will be agreed upon.
LANDING ON THE NIU PROGRAMME
  • If you are eventually selected, we will contact you to establish the fit between the mentor team – entrepreneurship team. Each company on the NIU Programme will have at least one and a maximum of three mentors to suit its needs.
  • You will also need to define the final composition and roles of your team in the NIU Programme, and designate the person or people who will be based onsite at the NIU Centre for New Companies in the Principality of Andorra. As leader of your project, you must participate in person in the NIU Programme acording to minimum requirements.
  • We will also sign the contract that governs your stay at the NIU, which essentially defines: the applicable rules, the entrepreneurial team, the mentors and the collaboration framework and participation in the NIU Programme.
  • Once the agreement has been signed, we provide you the necessary documents for your incorporation in the NIU's Programme as well as information on the administrative processes required: the company’s incorporation in the Principality of Andorra, immigration (if required) and taxation. You will receive support at all times to streamline this process as much as possible.
  • Specifically, if you do not have a residence/work permit in the Principality of Andorra, we shall provide you the support necessary to ensure your success with the administrative procedures. To give you an idea of what this process consists of and what things you will require, we attach a brief summary with the costs and the time involved:

    "According to the legislation applicable in the Principality of Andorra, a national from a member state of the European Union or from the European Economic Area may enter Andorran territory if she or he possesses a valid national identity document. Nationals from outside the European Union or from the European Economic Area must have the visas required to enter and legally move around Spain or France.

    Foreigners who are visiting the Principality of Andorra as tourists may stay up to ninety days starting from their day or arrival in the country, but they may not work.

    Within this period, it is necessary to process the corresponding residence and work permit, either as an employee or as self-employed. The latter is the permit required to participate in the NIU Programme.

    As a foreigner who wishes to set up a company, it will first be necessary to incorporate an Andorran limited company, having previously applied for registration of a corporate name, at a cost of 5.36 euros, and for authorisation of foreign investment (free procedure).

    The documentation required for this procedure is an identity document or passport and a police criminal history certificate, duly apostilled, from the country of origin (nationality) and from the current country of residence.

    Once these authorisations have been obtained, the company must be legally incorporated within a period of approximately one month. The notarial charges for incorporation amount to approximately 600 euros, plus the Government tax of 957.77 euros if it is a limited company, or 1,394.74 euros if it is a joint stock company. If you already have a template for the by-laws, they need not be drafted by a lawyer.

    Incorporation logically implies a minimum company capital outlay of 3,000 euros if it is limited, or 60,000 euros if it is a joint stock company.

    Once the company has been duly incorporated and registered in the Register of Companies of the Government, (a process that takes approximately 3 days), it is necessary to register with immigration (with over 10% of holdings or shares of the company and a senior officer in it), with the Caixa Andorrana de seguretat social (Andorran social security office), and to obtain the company’s corresponding Tax Registration Number (NRT)."

  • Once the requisites are met, it will be necessary to work and reside in the Principality of Andorra during the NIU Programme, we will provide you our Welcome Pack and you will be able to operate in the NIU New Companies Centre in La Massana for nine months, which will be divided into two stages.
  • As a participant in the NIU Programme you will enjoy both advantageous commercial conditions for landing, and discounts on real estate, parking, etc. services.

2. STAGE I - INCUBATION


Stage 1, the incubation stage, will last for 4 months, during which time individual promotion, advice and mentoring will be provided in the following areas:

MONTH 1
Business model methodology
MONTH 2
Methodology on discovering the customer
MONTH 3
  • Discovering the customer
  • Evolution of the Business Model
MONTH 4
Preparation of Demo Day 1

At the end of stage I, the projects must present their business model at Demo Day 1 and the project’s general performance in stage I will be evaluated, as will its needs for financing for stage II. If necessary, an initial round of investment for stage II of product acceleration and development will be initiated.

3. STAGE II - ACCELERATION


Stage II, the acceleration stage, lasts 6 months, during which individual training and tutoring are provided in the following areas:

MONTH 5
Product development methodology
MONTH 6
Business plan methodology
MONTH 7, MONTH 8, MONTH 9, MONTH 10
  • Product development
  • Training in TMD technologies
  • Preparation of Demo Day

At the end of stage II, the projects must present their business plan and their product. There follows assessment of the general performance of the project, which will be presented at Demo Day and the business initiative will be presented externally. The option of the project progressing to the commercialisation stage, with Andorra Telecom resources, will be evaluated, as will its needs for the financing required for it to consolidate on the market in a second round of investment.

BASES

MODEL OF COLLABORATION WITH ENTREPRENEURS

There follow the rules of this call for projects and the registration form, which you must complete and send, together with the additional relevant ainformation indicated on the form, to our contat email address, info@niu.ad.

Remember that, once the documentation has been sent, no changes may be made.

Any queries?

FAQs

Are there any restrictions on participation in the call for projects?

The project team must be formed by persons of legal age and the leader, at least, must take part onsite in the project, obtain a permit for residence and work in the Principality of Andorra in accordance with applicable legislation.

Can I take part in the NIU Programme if I have previously received financing?

The NIU Programme is open to all kinds of technology projects and therefore if your project has previously received financing it may, in principle, take part on the programme, provided that this is not incompatible with the rules and regulations. You should therefore indicate clearly on your participation form what type of financing you have received and its nature.

How far advanced should the project be?

No specific degree of advancement is required when submitting the application, although it should be feasible for the project to launch an initial product on the market after the ten months of the NIU Programme.

Must the projects presented belong to any sector in particular?

The projects must offer innovation to the Telecommunications – Media – Digital market. Within these markets, there are areas of specific interest, such as e-health and wellness, leisure and sport, robotics, commercial experience, software defined networking and language, digital security and games, although the initiatives need not necessarily fit into any of these areas of interest.

What is the minimum number of people the project’s entrepreneurial team should have? What degree of involvement is required of the team?

The entrepreneurial team must be formed by at least two people, one of whom is the project leader and the other is its representative, who must submit the application.

Ideally, all the members of the team should establish themselves at the NIU Centre for New Companies in the Principality of Andorra, although should that not be possible, the project leader, at least, is required to be based there and to dedicate 100% of his or her time to the NIU Programme. The other members of the project are only required to attend the business promotion and mentoring sessions (either on- or offsite), and onsite monthly follow-up meetings. Non-involvement of the team in the project is one of the points evaluated in the follow-up performed by the NIU and is one of the possible causes of exclusion from the NIU Programme.

Can the project be excluded from the programme? If so, for what reasons? What would that mean?

The project may be excluded from the NIU Programme if it fails to fulfil the accession agreement or its rules. If this is the case, the entrepreneurial team must return the credit awarded as loans and other credit that might be applicable, in accordance with the Terms and Conditions set out in the agreement.

If my company has already been incorporated but is still in the development phase, may it opt to participate in the NIU Programme?

If your company has been incorporated but is still in the initial development phase, you may still present it as a candidate for the NIU Programme. In this case, you should give details of this circumstance on your registration form and give a clear explanation of how developed the company/project is.

Companies participating in the NIU Programme must always be based in the Principality of Andorra. If yours is selected to take part on the Programme, you should therefore be compliant with all the legal processes necessary to fulfil this requisite.