Start-up accelerator Wayra reveals €30m enterprise boost

295 companies on scheme secured more than €20m follow-on funding in addition to Wayra’s own investment

Global tech start-up accelerator Wayra today published a progress report, revealing that entrepreneurs on its scheme have secured investment of just under €30m since the programme was launched.

Set up in April 2011 by telecoms giant Telefonica, Wayra operates in 12 different countries across Latin America and Europe and provides promising digital start-ups with investment, mentoring and networking opportunities.

To date, 295 companies have participated in the programme, of which 274 are still in business.

The €30m figure published today comprises €9.4m of Telefonica’s own investment and around €20m raised in subsequent rounds from outside investors.

Wayra’s report coincides with its new call for Internet-focused start-ups in the UK to join the latest iteration of the scheme.

Companies have until midnight on October 20 to apply for a place in one of its eight academies, which includes its London venue.

Start-ups that pass Wayra’s selection process will take part in an accelerator programme that will invest up to €40,000 in their business as well as providing mentoring and contacts, in exchange for around 7% equity.

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Charmaine Eggberry, director of Wayra London, said: “The Wayra model of incubating exciting start-up businesses has already proven its strength through the finance of 295 companies across its 14 academies. A total of €20m has been raised in follow on funding after initial investment from Telefonica, and of the 295 start-ups to come through Wayra’s doors 274 are still operating.

“In this next call we look forward to welcoming all start-ups, but in particular we’d like to see more start-ups working in the fields of big data and media/advertising, as we see these as two key markets for development in the coming 12 months.”

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