IMPACT Accelerator launched today its first 2 million € Open Call, which aims at selecting 20 start-ups with innovative ideas and projects related to Mobile Internet and based on FIWARE technology. IMPACT is endowed with 6.4 million € to invest in around 64 start-ups, through 3 Open Calls which will be launched in the next two years. The first one opens today, the second one around May 2015 and third one in October 2015.
The applying entities must develop their products or services taking advantage of FIWARE technologies, an open set of future internet-based technologies, developed during previous phases of the FIWARE programme.
IMPACT’s scope of interest are especially mobile applications or business models based on Mobile Internet in the areas of communication, social, video, media & advertising, design, education, entertainment, mobile commerce, device connections, content, TV peripherals, infrastructures, security, productivity, finance, smart cities and social networks.
IMPACT looks for two profiles of project to accelerate:
• Start-up Phase: Projects with a working prototype available, valued at less than a million Euros and at least two founders working full time for the startup. Target market launch date is less than six months.
• 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 provide indicators proving an exponential growth potential. The objective is its globalization or the consolidation of a change of business focus.
Start-ups and Web Entrepreneurs interested in the program can submit their projects till 7th November 2014, at 15:00 p.m. (CET) through the Funding Box Platform. Applicants with the most innovative and high-growth ventures will receive an average of 100,000 € per project articulated as 90,000 € in funding and 10,000 € in services to be implemented through a 6-month specialized mentoring and 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 programmes providing them up to 250,000 €, on top of the EU funding, against 10% of equity with a pre-defined discount of 25% at market value.
As introduction for this first Open Call, IMPACT organized a successful FIWARE Business & Tech Hackathon on September 23rd. 13 Multi-disciplinary groups, formed from the 60 participants, worked hard during almost 7 hours on developing a functional prototype on FIWARE. “I have got very surprised, FIWARE is easy to use and is funny” declared Alex Dantart, one of the members of the winner team
Moreover, IMPACT has managed to create a community of mobile web developers, interested in participating in the Open Call, counting already with more than 700 records.
All information and the link to apply can be found at impact-accelerator.com