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Hive Five and NIU are collaborating to jointly promote entrepreneurship in the Principality

Hive Five and NIU are collaborating to jointly promote entrepreneurship in the Principality

Per Andorra Telecom | 15/12/2020 | Business
This afternoon, Manel Garcia, director of BOMOSA, and Jordi Nadal, general manager of Andorra Telecom, have signed a collaboration agreement linked to Hive Five and the NIU program, respectively, which has an initial duration of three years - renewable for annual periods up to a maximum of six years–, with a threefold objective: to generate synergies between the different profiles and business projects of both parties, to promote the use of cowork among the users of this incubator and, in this way, to jointly promote the economic growth of NIU startups and entrepreneurs and, therefore, of the Principality of Andorra.

As a result of this agreement, if NIU managers need to have a specific mentor profile who works in the cowork and may be interested in some of the programs in which the Andorra Telecom incubator participates, Hive Five is committed to -contact them. In addition, when both Hive Five and NIU detect a business project that may be likely to be disclosed to the general public, they will be notified, in order to define and execute the collaboration actions that they deem opportune, always with the prior approval of the entrepreneur / company.

On the other hand, both NIU and its accelerated and / or incubated startups have discounted rates compared to the usual prices (and even free of charge), in order to use the coworking space, to perform Demo Days ”or similar events, as long as there is availability. In addition, Hive Five will offer the companies owned by Andorra Telecom owned by the NIU - after the phase of the nine months of support in incubation and / or acceleration -, a 50% discount, so that they can be established in the space Hive Five, from its exit from the NIU and for the next 12 months. At the end of this year, if these users are still interested in continuing to work from the Hive Five, their managers will offer them the best rate they can at that time (in this case, it would no longer be with a discount or a previously assigned commitment ).

The NIU, located in the Els Arcs de la Massana building, is an initiative aimed at encouraging entrepreneurship in the field of technology and encouraging the development of new activities that contribute to the economic diversification of the country. The creation of the NIU is limited to the area of ​​public commitment and support for the productive and business fabric of Andorra Telecom, but with the basis that it becomes an economically sustainable project.

Two different companies with the same values.

"NIU and Hive Five share the same values ​​of fostering talent, innovation and entrepreneurship in the Principality", explained Manel Garcia, director of BOMOSA, who added that through training and networking, we will also accompany Hive Five NIU users, in the growth of their projects ”. In addition, the director of BOMOSA wanted to remind that all the business benefits generated by coworking will go to philanthropic solidarity actions in the Principality of Andorra, through the programs of BOMOSA Fundació.

For his part, Jordi Nadal, General Manager of Andorra Telecom, specified that “the BOMOSA cowork is a strategic partner, at the moment when the startup and / or the entrepreneur have finished their period in our incubator and accelerator of companies, and have to establish by his account, in a space like Hive Five, that is ideal to continue his business growth ”. In fact, both Hive Five and NIU contemplate the mutual collaboration of both parties in other areas that are not established in this collaboration agreement.

Andorra Telecom NIU program
It is an incubator and accelerator of companies, located in La Massana, with the aim of supporting technological projects that generate wealth in the Principality and encourage the development of new activities that contribute to the economic diversification of the country. NIU is, therefore, a unique space in Andorra, which generates a collaborative ecosystem for the development of new companies, providing the support of Andorra Telecom, mentors and collaborators who ensure the success of the project, through three phases: the first of incubation, where the initiative matures until culminating in the creation of a company; the second acceleration, to start the search for financing with the first round of investors and a third with the marketing of the product or service, which would give way to a second round of investment and the exit of the company, already in full operation, of the NIU. In total, it is estimated that the process will be completed over a period of ten months, during which Andorra Telecom expects companies and entrepreneurs to have a network of mentors, who will oversee the projects and, as advisors, which support. NIU organizes and coordinates rounds with potential investors.

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Hive Five by Bomosa
It is a six-storey building with more than 1,200 m2 and a capacity for one hundred and forty work points that, while the health recommendations last, will be reduced to seventy. In addition, it has sixteen meeting rooms and two spaces for events and presentations. And, on the sixth floor, a multi-space with an outdoor terrace and panoramic views, which can be rented to hold all kinds of events. Thanks to technology, the management of its spaces will be operational for its users 24 hours a day, 7 days a week. Like all BOMOSA Universe business projects, the profits of Hive Five will be reverted to Andorran society, through philanthropic projects by BOMOSA Fundació.

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