Thursday, August 13, 2020

Telefónica Open Future calls startups to develop blockchain in Extremadura, Spain

Key facts:
Those interested will be able to register from September 15.
The selected startups will be promoted and supported for 4 months.

The Open Future program, promoted by the Telefónica consortium, opened a new call in conjunction with the Junta de Extremadura. The objective is to allow innovative technological projects that are developed in that region of Spain to participate in an acceleration plan.

This is the fourth call for the program at the center that operates in the Autonomous Community of Extremadura, located in the southwest of Spain. Applications may be submitted from September 15 to October 27, 2020, as explained on the official Extremadura Open Future website. During that period, those interested can make their presentations online on the website through the hashtag #RutaEOF.

The objective is to select 6 startups that will receive personalized advice for four months, by a team of mentors. Those chosen will participate in numerous training and networking activities that will help them promote their projects. It is estimated that once the winning projects are selected, the acceleration program will begin next November.

As indicated on the website, business projects that are framed in technologies such as blockchain, Big Data, Internet of Things (IoT), smart cities, technological innovations at point of sale (smart retail), e-health or e- health, and digital transformation in the agricultural sector (smart agro), among others.

Both companies established in the Autonomous Community of Extremadura, as well as those that wish to establish in that region, may present their candidacy.

The requirements to participate in the call include the development of a functional prototype and a viable product within a period of no more than three months. The project must have gone through an incubation phase of at least six months. In addition, you must have a business plan with the possibility of scaling and going to market.

To select the 6 winning projects, the participants in Extremadura Open Future will be evaluated based on criteria such as technology, value proposition, market potential, degree of maturity of the project, viability, degree of innovation and business opportunity.

To date, some 17 companies in the region have been selected to participate in Telefónica Open Future from this center in Extremadura, through three calls made since its creation in 2019. In that time the center has received more than 40 applications and has offered more than 600 hours of mentoring.