European consortium IMPACT Accelerator has opened up for applications, and is offering up to €2.5m to 25 tech startups.
The programme is open to startups across Europe in the mobile internet space that specialise in FIWARE technology, and each startup will receive up to €100,000.
A total of €90,000 will be received in funding and €10,000 in services. A six-month training and mentoring programme will also be on offer.
IMPACT will also offer an extended investment phase to the startup that can demonstrate the most outstanding project following the programme.
The investment will be made available six months after the programme and includes access to the IMPACT Partners investment programme, which aims to provide a potential €250,000 on top of the EU funding, against 10% of equity, with a predefined discount of 25% at market value.
To qualify for funding, there are two project profiles that must be considered applicable to businesses:
Startup phase: Functional prototype
At least two founders full-time
Company value < €1,000,000
Objective: Launch date less than six months
Growth phase: Company value < €2,000,000
Company less than seven years old
Founders own at least 51% of the company
Objective: Globalisation or change of business focus
IMPACT plans to invest €6.4m in up to 64 mobile startups by 2016.
Companies applying for the accelerator must be established in at least one of the 28 EU countries or an FP7 associated country.
Daniele Galiffa, CEO of GoalShouter, one of the startups selected in the first Open Call, said: “We are using the FIWARE technology to help our users create amazing videos in real time directly from the stadium to be shared with other fans, allowing them to experience the same emotions they would at any live football match.
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“Thanks to IMPACT, we are now focusing on acquisition channels as well as sales and marketing, to validate all elements of our business model.”
Jeroen Fransen, CEO of Revisely, said: “IMPACT has supported Revisely’s growth not only by exposing us to a line-up of experts, but also by promoting exchange of information between the participants, key to countries learning and community building.”
Startups have until 30 April to apply through the Funding Box Platform.