€2.2 Million to accelerate further 22 European FIWARE-based startups. IMPACT Accelerator launches today its third and last Open Call for innovative ideas and projects based on FIWAREtechnology related to the Mobile Internet. Start-ups and Web Entrepreneurs interested in the program can submit their projects up until October 15th through the Funding Box Platform: www.fundingbox.com/p/impact-accelerator/. 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.
Since the beginning, IMPACT, the EU consortium composed by Buongiorno (via its accelerator b-ventures) ISDI, Seaya Ventures and Teknologiudvikling ApS., has accelerated 42 projects in total and the aim is to be accelerating up to 64 startups by the end of 2016, for a total amount of €6.4M.
IMPACT accelerator is consolidating an acceleration process based on transparency and high performance which has been satisfactorily evaluated by the Startups participating in the first wave. The training program has been evaluated with 8,2 points out to 10, and the Mentoring Program 9,4 out to 10 and, in general, IMPACT has gotten a Net Promoter Score of 84% which means that more than 80% of startups participating are really satisfied with IMPACT. In the two past Open Calls, IMPACT received the highest number of proposals among all the accelerators.
A large majority of the mobile internet projects selected in the first two open calls were of an outstanding level in terms of the quality of the team (mastery, skills, fluency) and the worth and attractiveness of the business ideas behind. An important criteria in the selection process was that teams had already developed prototypes using selected components of the on FIWARE European digital technologies.
The applying entities must be established in one of the 28 European countries or an FP7 Associated country.
Applicants must submit ideas and projects related to the mobile internet and 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 program.
IMPACT’s scope of interest are 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.
The type of projects that IMPACT consortium is looking for are projects in the mobile domain with a working prototype available and at least one founder who work full time for the project, where the founders still own 51% of Shareholders’ Equity and with a target market launch date that is set in six months’ time or if the product is already present in the market, has been so for less than seven years.All these elements are recommended, they are not mandatory. The more closely the Projects match these criteria, the more likely they are to be selected.
Additionally, IMPACT will offer an Extended Investments Phaseto 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.