On August 3, 2020, the Telefónica consortium announced the new „Open Future“ program on its official website. Its objective is to support companies, organizations and projects based on Blockchain technology from Extremadura, Spain, to participate in an acceleration program that seeks to revolutionize traditional ecosystems through new technologies.
The call will be open to the public, from September 15th to October 27th, and is aimed at all companies and startups that have potential for the development of blockchain technology, within the business sector, who may make their participation online through the hashtag #RutaEOF.
The companies interested in participating, must submit their application through the website, filling out a form that is available in Extremadura Open Future.
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The global platform of the open innovation area of Telefónica, which connects technology entrepreneurs with a disruptive vision, opens its fourth call, which is aimed at companies that develop innovative technology-based business projects such as blockchain, and other disruptive technologies such as, Big Data, Internet of Things, Smart Cities, Industry 4.0, Smart Retail, Fiware technology, digital transformation in the agricultural sector (Smart Agro), e-health or digital content, among others, as explained on the official website of Extremadura Open Future.
Methodology of the program
This call made by the technological multinational, through Open Future, offers a space where the different business actors will develop and transmit their experiences related to networking.
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There will be six technology-based startups selected to participate in the acceleration program, which has an initial term of four months, where participating companies will have the advice of experts and a network of top-level mentors, who will guide and advise them in a personalized way, in the development of every aspect of their projects.
During these four months, the Open Future management team will evaluate the direction of the project and may approve an extension of four more months for the program.
The deadline for the presentation of applications is set for October 27th, and those companies that wish to establish themselves in the region or those innovative companies established in the Autonomous Community of Extremadura will be able to access them.
The company must have at least a functional prototype The News Spy and a minimum viable product within a period not exceeding three months, have a business plan with the possibility of scaling and market entry, and an innovative model with clear competitive advantages, as indicated in the press release on its website.
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Likewise, as indicated on the website, the evaluation criteria that will be taken into account to make the selection of the 6 winning projects, are focused on the technology, value proposal, market potential, degree of project maturity, viability, degree of innovation and business opportunity.