We are not a traditional corporate venture, thus we are not looking only for projects related to mobile technology. We are looking for innovative information and communication technology (ICT) based projects in a wider sense.
Please take a look at the WAYRA projects, both past and present: WAYRA Start-up Portfolio
WHAT TYPE OF FOUNDERS ARE WE LOOKING FOR?
The Team is crucial. We think that a good team is one of the essential pillars for a start-up to be successful. We are looking for founders who are committed to their project. At WAYRA we are making a great investment in start-ups and in the environment to create traction and acceleration. We will be committed to you, so we want you to do the same.
In order for a Start-up to take full advantage of WAYRA’s acceleration services, we ask for commitment and full dedication of the founder team (or at least the majority of it) to the Project while you are in the WAYRA space. We believe it’s essential. If you can’t commit the time and energy we are looking for, please don’t apply – there are other deserving projects who will!
We are looking for proactive founders that challenge us. We can provide services, opportunities, a unique environment and exposure,
but at the end, it is the founder team that needs to take full advantage of those opportunities. Dedication is essential during the
Thus, we require that the founders are physically present in the WAYRA space for the vast majority of the time. This way, they can be in full contact and focus on developing their project with mentors, external speakers and other entrepreneurs.
Our tip: do some homework. Ask other WAYRA entrepreneurs, contact mentors and WAYRA team members to get an idea of what we
are offering and what we are looking for, so you can decide if WAYRA is right for you.
If you think your project could fit into the WAYRA ecosystem, we will be waiting to welcome you!
Welcome to WAYRA!
GLOBAL CALL AND SELECTION PROCESS
ABOUT THE GLOBAL CALL FOR PROJECTS
The purpose of this call (the “Call”) is to invite qualifying entrepreneurs who are interested in accelerating their projects within WAYRA spaces around the world to apply (or “bid”), subject to these terms and conditions, for a place in the WAYRA space.
WAYRA’s global focus is demonstrated by a network of WAYRA Spaces around the world. Right now, WAYRA has presence in these European cities: Madrid, Barcelona, London, Dublin, Munich and Prague and these LatinAmerican cities: México, Bogotá, Caracas, Sao Paulo, Santiago, Buenos Aires and Lima.
The spaces that are opening vacancies in this call are:
• WAYRA Barcelona
• WAYRA Bogota
• WAYRA Buenos Aires
• WAYRA Dublín
• WAYRA London
• WAYRA Madrid
• WAYRA Munich
• WAYRA Santiago
• WAYRA Sao Paulo
• WAYRA Prague (our new space in the Czech Republic)
If you are interested in applying, please read the following information. It will guide you through the bid process
ANY LIMITATION TO APPLY TO THE CALL?
Apart from what is stated above about the type of founders and start-ups we are looking for, there are a few requirements that you need to comply with before applying to this call:
- Legal age: all founders shall be of legal age according to the regulations of the country you are considering applying to.
- Residence permissions: founders or at least a majority of the founders team shall be fully dedicated to the start-up/project in the WAYRA space. If you are applying to a country which is not your country of residence, you will most likely need permissions, residence or working visas for that purpose (or similar) according to the regulations of the country you are applying to. WAYRA will not be responsible for arranging this for you.
- Early stage start-ups please: your project must not have had a commercial launch more than 24 months before submitting your bid.
START-UP SELECTION PROCESS
First Phase: Receipt of bids
Deadline: bids can be submitted from December 12th until January 20st 2013.
Form: founders must submit their bid through the online form available at http://WAYRA.org. Each bidder shall register and describe
their project following the instructions provided in the online form. If you have any questions about the application process, there are contact details on the website.
Each participant may only form part of a single bid per call.
Some useful WAYRA tips:
- If you have a Beta or Alpha of your product, show it to us! Demos may help also to understand better your product.
- Think about if your project is at the right stage of its development to apply to WAYRA. If you are not sure, probably it´s not the right time. Don’t worry; work on the project, there will be more opportunities during the year.
- Take your time in completing the form. You will be able to update, modify and complete your form any time before the deadline.
- Be creative. We love creative and different people.
- Think carefully about which WAYRA space you are applying to. Your expansion strategy, as well as other factors, could lead you to the right Academy to apply to.
Second Phase: Evaluation
After the close of the call, WAYRA (made up of WAYRA and Telefónica subject matters experts from different technology fields) will
assess all bids based on the following non-exhaustive criteria:
- Innovative and disruptive nature
- Maturity of the project
- Business model
- Opportunity and growth potential
- Sector/market potential
- Team balance
- Fit with Telefónica
Third Phase: Shorlisting
WAYRA’s evaluators may shortlist bids (”shortlisted bidders”). During this phase, WAYRA may ask shortlisted bidders for additional information on their project.
Also, as the team is really important for us to make a final decision, founders will be asked for face-to-face meetings with the founder team, to evaluate your potential. With all this information, WAYRA will contact the shortlisted bidders to announce which of them have been selected as the projects that will make it to the final selection phase, where they will present pitch their projects to the WAYRA Selection Panel.
Fourth Phase: WAYRA Selection Panel
The final bidders will be invited to pitch their project to the WAYRA Selection Panel, comprised of independent and relevant members from the entrepreneurial and investor ecosystem (business angels, venture capital practitioners, successful entrepreneurs etc). The WAYRA Selection Panel will select the winning projects who will enter the WAYRA space.
Fifth Phase: signature of the WAYRA
Agreement and entry into WAYRA Space
If the WAYRA Selection Panel selects your project, huge congratulations!
There are some formalities we need to complete before you enter the WAYRA space. Before entering the WAYRA space and receiving WAYRA’s investment, you will be required to sign the WAYRA Agreement – this agreement governs the terms of the investment and your residence in the WAYRA space. You will have received a copy of the WAYRA Agreement as a shortlisted bidder.
In case this Agreement is not signed, you won’t be able to enter the WAYRA space, and your place will be given to other team.
What are the terms of the WAYRA Agreement?
Attached as Annex 1, is a summary of the main terms of the Agreement including the investment model. If you are a shortlisted bidder,
we recommend you obtain independent legal advice (from one of our panel law firms or elsewhere) about the terms of the WAYRA Agreement. We cannot advise you on this as we have a conflict of interests.
Once the Agreement is signed, you will enter the WAYRA space.
Good luck and we hope you can make it to this point! Hard work and real commitment will start when you enter WAYRA space.