Funding news - 19/03/2012
Wayra Launches £50,000 Business Accelerator Programme (Great Britain)
The Wayra Accelerator Programme is a new investment opportunity for start-up companies in Great Britain, in fields ranging from cloud computing and mobile apps to network systems and financial services.
Successful applicants will spend six months in the Wayra Academy in London, receiving help to accelerate their business. They will then either be introduced to venture capitalists for next stage funding or stay another six months in the Academy.
Each company that is successful in its bid with receive up to £50,000 of investment funding.
In return for the investment, Wayra's organiser, Telefónica, the owner of O2, will take 10% equity and provide up to a year of mentoring, access to technology and networking at the Academy.
Start-ups and early stage digital and technology-based businesses in Great Britain are invited to bid for support through the programme.
Ronan Dunne, UK Chief Executive of O2 said: "There's amazing entrepreneurial spirit in the British small-business community, and we want to help them succeed."
Gonzalo Martín-Villa, Global Director for Wayra said: "What we can provide them is a place and time to bring that commitment and passion for an idea to life, together with our business experience, network and technical support."
The 2012 deadline for receipt of applications is 22 April 2012.
Source: http://uk.wayra.org, 19/03/12