Wayra’s Dublin accelerator issues fresh call for new start-ups

12 May 2014

A recent graduating class at Wayra Dublin

Digital start-up incubator Wayra has issued a new call for projects in the internet and mobile space. So far, 21 companies have been accelerated at the Telefónica hub for early stage companies.

The company is looking for 10 promising start-ups to take part in the next phase of the programme.

Applicants can also apply to one of seven other Wayra academies currently offering places to start-ups including: Madrid, Barcelona and Munich in Europe; and Mexico City, Buenos Aires, Lima and Santiago de Chile in Latin America.

Wayra has a portfolio of more than 330 companies divided into 20 digital industries.

The fund pledged by Telefónica for early-stage companies accelerated by Wayra exceeds €13.5 million, while third parties (public and private funds and angel investors) have allocated funds amounting to more than €36 million to accelerated start-ups.

Entrepreneurs or technology companies with start-up businesses or developing concepts have until midnight on 8 June to apply for a place in Wayra Ireland. Applications can be submitted online.

After passing an exacting selection process, the selected finalists take part in the acceleration programme giving them an investment of up to €40,000, devoted mentors, a space for their team to work in at the Wayra Academy in Dublin, and potential access to the Telefónica Group’s businesses and contacts.  

Wayra will take a convertible loan note in the business that they will exchange for between 7pc and 10pc equity during a later investment round. Entrepreneurs will also join Wayra’s investor, partner and expert network in different parts of the world.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years