Segovia City Council signed a collaboration agreement with IE University whereby the city’s Casa de Moneda (Royal Mint) building will house a business laboratory run by IE University to promote innovation and help develop an entrepreneurial mindset in the region. IE University will thus be collaborating with the city of Segovia to convert the Casa de Moneda, a cultural heritage building considered the oldest example of industrial architecture of its kind in Europe, into an international incubator for innovative businesses.
As from May 1st, the private University will be running the laboratory in the Casa de la Moneda building, the renovation of which was completed last year. The Casa de la Moneda was founded by Felipe II and built by Juan de Herrera between 1583 and 1588.
The key role of the laboratory will be to serve as a business incubator for students’ business initiatives. A substantial number of students from countries worldwide have already identified international business opportunities and the laboratory will serve to strengthen their projects, as well as opening them up to Segovia’s business community. There are currently ten companies created by IE University students, at different stages of development.
Students will undertake internships in the laboratory under the tutorship of their professors, who will guide them throughout the entire process, while top-tier business experts provide assessment in areas like marketing, funding, strategy and legal aspects. A group of students will work on their business projects during the spring, and another group will then take over and work on their initiatives for the rest of the year.
Work will include the preparation of external consulting projects for companies like HRT F1 Team (the Spanish Fórmula 1 motor racing team), INDRA, Fundación Atlético de Madrid, One to One, the Spanish Olympic Committee, and Prysma. These firms and institutions have signed up to have IE University students carry out consulting projects or draft reports, affording students the opportunity to get hand-on experience of real business projects. Students who take part in the initiative will attend practical workshops throughout the year led by executives from participating organizations, in addition to having their projects assessed by professors and tutors. The aim is to equip students with the skills needed to meet the challenges they will face in their future careers.