AndUp Foundation Launches to Boost Andorra's Advanced Startups
A new foundation backed by Andbank and partners targets Andorra's growth-stage startups, offering tailored support to overcome scaling hurdles and position the country as an innovation hub through ecosystem ties and global links.
Key Points
- Led by Andbank Group with patrons Andbank, Andorra Telecom, and Francesc Destrée.
- Targets scaleups in biotech, health, tourism, mobility, and AI with proven traction.
- Initial network of eight firms including CityXerpa, Onalabs, and 4mediks.
- Plans to expand to 12-15 startups via partnerships and CATSA tech center.
The AndUp Foundation, led by Andbank Group, launched on Tuesday to support Andorra's advanced-stage startups and scaleups, aiming to foster economic diversification through targeted assistance and ecosystem collaboration.
The foundation begins with a board of three founding patrons—Andbank, Andorra Telecom, and investor Francesc Destrée—and an initial network of eight participating companies: CityXerpa, RapidAND, ByteTravel, Cellab, Onalabs, 4mediks, Nuitte, and Commercial. Director Vanesa Arroyo said the program focuses on ventures with proven traction, existing clients, and validated business models that require help addressing specific growth challenges. "We are not creating a program for early-stage entrepreneurship, but a continuous one to resolve needs as they arise," she explained.
Plans call for expanding to 12-15 startups, with efforts centered on building community momentum, selecting additional projects, and delivering advanced support programs. This includes boosting visibility, encouraging international participation, and linking firms to global networks to establish Andorra as a strategic hub.
Andbank CEO Carlos Aso described the initiative as a network for high-impact entrepreneurship with a public mission, despite its private roots. He stressed openness to all ecosystem players: "We want everyone involved in entrepreneurship and willing to contribute to be around us." Priority areas encompass biotechnology, health, tourism, mobility, and artificial intelligence, where Andorra can seize technological opportunities.
Arroyo highlighted the need for partnerships with groups like Andorra Business and Andorra Research and Innovation, as well as universities and innovation firms. She pointed to the CATSA project in Sant Julià de Lòria—repurposing the former factory into a tech innovation center—as a prime chance to create physical space for emerging companies.
The launch event included Aso, Arroyo, Destrée, and Andorra Telecom director general Jordi Nadal.
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