GCO (Grupo Catalana Occidente) creates GCO Ventures, a new company dedicated to corporate venturing

"The insurance group's corporate venturing vehicle was created in an effort to identify, build and launch new companies in areas such as home, health, services and integrated insurance. "

GCO Ventures is the new corporate venturing vehicle of GCO (Grupo Catalana Occidente). The new company seeks to contribute to the long-term growth of the insurance group by identifying, building and launching new businesses. It does so by selecting projects in priority areas for GCO's business, such as home, health and insurance-related services, which provide a market opportunity to create new companies.

Backed by GCO's solvency, the new company spans everything from building companies from scratch to investing in and supporting the growth plans of business creators. It thus focuses on proactively exploring innovation opportunities by analysing the latest market trends and by creating, acquiring and investing in new businesses aligned with GCO's strategic priorities, and it does so through proactivity, customer orientation and a vision of the future. GCO Ventures engages constantly with the entrepreneurial world and the open innovation ecosystem.

The projects are selected through two areas of specialisation:

· Venture building: GCO Ventures creates, launches and scales start-ups. To do so, it builds the business from the initial phase, including the detection of opportunities and market research, to the launch of the product or service. Likewise, the company works closely with entrepreneurs to help them develop their ideas, validate their business models and make them grow successfully.

· Investment through two methods:

• Venture capital: Direct funding to startups in order to provide them the opportunity to propel their idea and refine their business model. GCO Ventures is also involved through this area of specialisation to create value for all stakeholders.
• Investment in venture capital funds consistent with the strategy of GCO Ventures, thus diversifying the portfolio and expanding the scope of its investments through the managers of these funds.

The GCO Ventures team bring together professionals with extensive experience in innovation, entrepreneurship, venture building and investment. Made up of both GCO personnel and external talent, it has a broad overview of the innovation ecosystem, its challenges and its opportunities. "At GCO Ventures, we believe in innovation as a driving force for change and progress. Which is why we want to be the support that innovative initiatives need. Our aim is to identify, build and implement new companies that will make the difference in their sector", explained María José Álvarez, CEO of GCO Ventures. In this regard, GCO Ventures has so far worked on around twenty business ideas, of which three have already culminated in the testing and design of the business, and two are in the construction phase.

Similarly, GCO Ventures invests in venture capital directly or through funds. "Investment is a crucial step on the entrepreneur's journey. However, our goal is not only to provide financial backing, but also to provide the experience and knowledge needed to scale up a start-up effectively", Álvarez added. 

Adecua, the first start-up to be created with support from GCO Ventures

The first start-up supported by the company is already operational, in the first phase in the Barcelona area, before subsequently expanding to all of Spain; and two new companies are expected to be created in 2024. Adecua is a start-up dedicated to adapting the homes of seniors to their needs and their degree of mobility and cognition. It was backed by GCO Ventures, Atresmedia Capital (the start-up investment arm of the Atresmedia Group) and 7r Ventures. Adecua addresses the need to design and develop solutions that contribute to the well-being of seniors, and thus seeks to respond to the challenge of the ageing population.  Through a network of over 500 professionals, the company handles everything from small improvements to comprehensive adaptations, so that users can continue enjoying their home independently and securely. In addition to managing the entire reform process, Adecua also processes the subsidy paperwork so that the adaptation is as affordable as possible.