Wayra to Mentor 35 More Start-ups

Telefonica’s business accelerator Wayra has set aside fresh funds to finance prospective Internet and new technology start-ups. About 35 chosen enterprises will be trained at one of its six academies in Europe and Latin America.

The potential young entrepreneurs are those who are focusing on the high-end technologies such as Big Data, M2M (Machine to Machine), mobile (including HTML5 applications), virtualization and cloud services (XaaS). Chosen enterprises can expect to gain funds, mentoring and access to Telefonica Group’s businesses.

Promoted by Telefonica Digital to foster entrepreneurship and innovation, Wayra operates in almost every country where its parent company offers telecom services. The accelerator was initially launched in seven Latin American countries (Argentina, Brazil, Chile, Colombia, Mexico, Peru and Venezuela) and was later expanded to Europe following the launch of Wayra Academy in Madrid, Spain.

Over the past two years, the accelerator has financed over 295 new companies with funds amounting to over $12 million. The last date for submitting projects is 20 October.