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October 7, 2013

Wayra calls for more startups to join its academies

Telefonica initiative offers up to $70,000 funding for up to 10% equity.

By Joe Curtis

Entrepreneurs and start-ups have been handed the the chance to join an academy to boost their business with expert advice.

Wayra is holding a call for tech firms with game-changing ideas to join one of its academies in six countries, providing up to $70,000 funding in exchange for a 5%-10% share of the company.

The Telefonica initiative currently hosts nearly 300 startups in Bogota, Mexico City, Buenos Aires, Lima, Madrid, Barcelona, Caracas, São Paulo, Santiago de Chile, Munich, London, Dublin, and Prague.

It is hoping to attract 37 more startups to fill positions in six of those academies, including 20 spaces in London, seven in Caracas and five in Munich.

Wayra says it will give special attention to startups or entrepreneurs working in areas it believes are ripe for growth, those being big data and machine to machine.

People on the scheme will have access to expert advice, funding, as well as free workspace. The deadline for applications is October 20.

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