Mallorca-based Incubator Raises €1.2m, Announces First Investments (meaning “cool” in Spanish), a Palma de Mallorca based startup accelerator/incubator has raised €1.2M three months after announcing it’s official launch. The funding comes from Bernardo Hernández, angel investor and currently Global Head of Marketing for Emerging Products at Google; Javier Gómez Navarro, ex Minister of Tourism in Spain; and Luis Chicharro, ex Executive VP Ibersuizas., founded by Enrique Dubois and Paco Gimena, dubs itself as a startup investment fund, an idea incubator, created by and for entrepreneurs. To date, they have participation in over 30 companies, including their own home-grown projects as well as adopted investments. The company claims a net worth of € 3 million and a total of € 11 million invested in collaboration with other investors.

This is a story worth telling, as money is hard to come by these days in Spain, but with the €1.2M raised, has just announced their first share of investments totaling €275,000. Seven Spanish startups were chosen out 500 submissions, all within the online and mobile sphere: – the name speaks for itself. A mobile taxi reservation service. – A marketplace for freelance professionals. – video gaming studio for mobile and gaming consoles. – Fantasy football platform. – A heaven for scuba divers. – SaaS application for online reputation análisis for hotels.– A private vip sales club for tri-athletes.

It’s not clear how the 275,000 was spread out through the 7 companies. During this year, plans on investing in another 15 startups.