Telefónica Open Future, the program for startups that seek to implement its open innovation strategy through decentralization, opened the first Call Open Future Spain 2023 in search of the most disruptive startups that develop and implement new technologies throughout the country.
Telefónica created this program in 2014 to democratize entrepreneurship so that different proposals in different parts of the country can access to scale their startup, through the local promotion of technological projects that revolutionize traditional industries.
Why decentralizing entrepreneurship matters
In the last decades, the strong migration of technology projects to large capitals and decision centers has become a natural trend. Talent, ideas, and projects had to move to seek market and business opportunities.
According to the Informa D&B report, 62% of start-ups are concentrated in 3 regions: Madrid, Catalonia, and Andalusia. There are 39 cities ranked in the top 1,000 in Spain and the top-ranked city in Spain is Barcelona at 37 globally. Madrid follows Barcelona at 50 and Valencia at 159.
Encouraging regional entrepreneurship from cities other than the big ones is also about enabling the growth of entrepreneurs, and their business without geographical migration is something that every region needs.
Inês Oliveira, Global Director of Telefónica Open Future, said: “We are committed to our mission of decentralizing entrepreneurship. Thanks to the national capillarity of Telefónica Open Future’s acceleration programs, entrepreneurs anywhere in the country can grow their startup with Telefónica”.
In this first edition, seven hubs that are part of the national network of Telefónica Open Future are participating: La Lonja de la Innovación (Huelva), Carthago (Murcia), El Ángulo (Ceuta), La Cárcel (Segovia), Talavera, La Atalaya (Extremadura) and Green M1 (Tarragona).
The call for entries runs until 16 March. This edition focuses on startups that revolutionize the traditional industry through new technologies and the latest trends in virtual reality, artificial intelligence, big data, blockchain, e-commerce, e-health, and legal tech, among many others.
The selected proposals will become part of the global ecosystem of Telefónica Open Future, with the advice of a team of mentors made up of experts. In addition, they will be allowed to access a professional network through different networking events with other entrepreneurs, institutions, and future investors.