IMPACT Accelerator launches today its second €2.5 Million Open Call, which will select around 25 European start-ups with innovative ideas and projects based on FIWARE technology related to the Mobile Internet. IMPACT will invest €6.4 million in 64 start-ups over 2 years via 3 Open Calls. The first call took place last October, with the final call expected to be launched in October 2015.
The applying entities must be established in one of the 28 European countries or an FP7 Associated country and develop their products or services for the Mobile Internet domain.
Submitted projects must utilize FIWARE technologies, the cloud and open source platform commissioned by the European Union, that provides a powerful set of APIs (Application Programming Interfaces) that aid in the development of Smart Applications in multiple vertical sectors, such as: Mobile apps or business models based on mobility and related to: Communication, Social, Video, Media & Advertising, Design, Devices, Education, Entertainment, Infrastructure, Safety, SBM, Productivity, E-Commerce, Smart Cities, Connected TV, Finance and Social Networks.
The specifications of these APIs are public and royalty-free. An open source reference regarding the implementation of each of the FIWARE components is publicly available so that multiple FIWARE providers can emerge faster in the market, with a low-cost proposition.
IMPACT is looking for projects that can be described as either: 1) Start-up Phase: Projects with a working prototype available, valued at less than a million Euros and with at least two founders working full time for the startup. Target market launch date is less than six months; 2) Growth Phase: Companies already present in the market for less than seven years with turnover below two million Euros, where the founders still own 51% of Shareholders’ Equity and can demonstrate a potential for exponential growth. The objective here is towards globalization of the company or the consolidation of a change of business focus.
The circa 25 selected projects will join the 19 that were admitted to the Acceleration Program after the first Open Call: more than 850 applications (515 of which validated) representing 30 countries, lead by Spain (51%), Italy (17%), Poland (7%), UK (4%), Germany (3%) and The Netherlands (2%).
Daniele Galiffa, CEO GoalShouter (one of the startups selected in the 1st Open Call) comments: “We are using the FIWARE technology, and in particular Kurento solution, to help our users create amazing videos in real-time from the stadium that are shared with other fans so they too experience the emotions of a live game” – he goes on to explain – “Now, thanks to IMPACT, we are focusing a lot on acquisition channels and on sales and marketing to validate all the assumptions of the business model.”
“IMPACT has put Revisely´s growth potential to the test not only by exposing us to a lineup of experts, but also by promoting the Exchange between the participants, key to continuous learning and network building” comments Jeroen Fransen from Revisely.
Start-ups and Web Entrepreneurs interested in the program can submit their projects up until April 30th. Applications must be submitted through the Funding Box Platform: http://bit.ly/IMPACTapplyNOW
The Applicants with the most innovative and high-growth ventures will receive around €100,000 per project without equity consideration, (split into €90,000 funding + €10,000 in services) and a 6-month specialized Mentoring & Training program.
Additionally, IMPACT will offer an Extended Investments Phase to the most outstanding projects after the 6-month Acceleration Process, consisting in a fast track access to the IMPACT Partners’ investment programs and up to €250,000 in additional funding, against 10% of equity, with a pre-defined discount of 25% to market value.