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- The winning projects will be jointly incubated by the challenge organizers, will receive their own funding, and will have the opportunity to become startups. The agreement establishes that Telefónica's open innovation hub and the online investment platform will share deal flow, allowing them to propose startups from their portfolios to each other.
- Startupxplore and Wayra will also organize joint actions and events and support each other through their communication channels.
- Wayra will provide Startupxplore with workspaces, meeting spaces, and event venues at its Madrid hub, and will offer it access to its sponsored events and programs such as Open Future and TrenLab.
Madrid, May 11, 2021.- Wayra, Telefónica's open innovation hub, and Startupxplore, the online investment platform for startups with high growth potential, are joining forces to boost the entrepreneurial ecosystem in Spain and promote investment in technology startups.
Thanks to this agreement, both entities will be able to propose startups to each other that are in their portfolios. In this way, startups in Startupxplore's portfolio will be able to receive up to €250,000 in investment from Wayra and access business opportunities with Telefónica. Wayra startups will also be eligible for investment from Startupxplore. Through this agreement, both entities commit to going beyond investment, organizing events and activities to boost the growth and business development of the companies already in their investment portfolios and, ultimately, strengthen the entrepreneurial ecosystem in Spain. Furthermore, Wayra will provide Startupxplore with space in its Madrid hub for events, meetings, and up to one year of coworking. The online investment platform will also have access to events sponsored by Wayra, and its startups will be able to apply for acceleration and incubation programs such as Open Future and TrenLab, Renfe's startup accelerator developed by Wayra. “Now is not the time to invest less; on the contrary, we are living in times when we must redouble our efforts among the main players in the ecosystem to provide resources to our entrepreneurs and support them in achieving their respective missions,” explains Nacho Ormeño, co-founder and CEO of Startupxplore. “This agreement reflects Wayra’s commitment to fostering co-investment in mature startups with a clear business plan and whose activity is primarily technology-based. At Wayra, we know that collaboration is key to taking the Spanish entrepreneurial ecosystem to the next level,” states Paloma Castellano, director of Wayra Madrid. “This partnership will have an extremely positive impact on the startups in both portfolios,” Castellano points out. Startupxplore closed 2020 with €2.4 million invested in 14 companies and recently launched a new vertical aimed at startups developing video games or related to the esports sector. Meanwhile, Wayra ended the year with €4.5 million invested in 39 startups. Of the total invested by Wayra globally, investments from Spain amounted to €1.8 million in 15 startups, a 29% increase compared to the previous year.
About Wayra
Wayra is the entrepreneurship initiative that is part of Telefónica's Open Innovation program, the most global, technological, and connected in the world. It has seven Wayra Hubs, spaces in nine countries across Latin America and Europe through which it invests in and supports startups; Wayra X, a digital hub for investing in 100% digital startups; Wayra Builder, a corporate venture builder for creating innovative startups born from Telefónica's internal technology projects alongside other investors; and Wayra Next Trend, a window into digital innovation on trends and innovative applications. In addition, through the Wayra Activation Programme, it offers entrepreneurs exclusive and free access to new technologies through Telefónica's own platforms.
More than 500 of the startups in which we have invested are part of Telefónica's Open Innovation program, and more than 130 are doing business with the company.
More information available at www.wayra.com
About Startupxplore
Startupxplore is a crowdfunding platform authorized and supervised by the CNMV (Spanish National Securities Market Commission) that offers investment opportunities in high-potential startups, where you can co-invest alongside professional investors. Startupxplore's mission is to offer its users the possibility of building a diversified portfolio of alternative investments in newly created companies. The platform has invested over €9.5 million in 44 companies and counts among its partners some of Spain's most prominent investors, such as Cabiedes & Partners, François Derbaix, Javier Llorente, Yago Arbeloa, Vincent Rosso, and Carlos Domingo.
Twitter: @Startupxplore