The Telefónica consortium announced the new program on August 3, 2020 via the official website “”Open future “. The aim is to support companies, organizations and projects based on blockchain technology from Extremadura, Spain. Participation in an acceleration program that aims to revolutionize traditional ecosystems with new technologies.
The call is open to the public from September 15 to October 27 and is aimed at all companies and startups that have the potential to develop blockchain technologywithin the corporate sector who can participate online using the hashtag #RutaEOF.
Companies interested in participating must submit their application through the website and fill out a form available from Extremadura Open Future.
Telefónica’s open innovation space global platform, connecting technology entrepreneurs with a disruptive vision, opens its fourth call, the It is aimed at companies developing innovative technology-based business projects such as blockchain and other disruptive technologies such as Big Data, Internet of Things, Smart Cities, Industry 4.0, Smart Retail, Fiware technology and digital transformation in the agricultural sector (Smart Agro), E-Health or digital content, among other things, as explained on the official Extremadura Open Future website.
This call by the multinational technology company via Open Future provides a space in which the various economic actors can develop and pass on their experiences in connection with networking.
Six technology-based startups will be selected to participate in the acceleration program, which will initially run for four months, with the participating companies You will be advised by experts and a network of first-class mentors who will guide and advise you in a personalized manner. in developing all aspects of your projects.
Within these four months, the Open Future management team will evaluate the direction of the project and possibly approve an extension of another four months for the program.
The deadline for submitting applications is October 27 Companies that want to set up in the region or innovative companies based in the Autonomous Community of Extremadura can access it.
The company must have at least one functional prototype and product with a minimum lifespan of three months or less, a business plan with the ability to scale and go to market, and an innovative model with clear competitive advantages, as stated in the press release on its website.
Likewise, as stated on the website, the evaluation criteria that will be taken into account when selecting the 6 winning projects, They focus on technology, value proposition, market potential, project maturity, profitability, level of innovation and business opportunities.
Telefónica Open Future and the blockchain
Open Future is an open and global innovation program that brings together entrepreneurs, startups, investors as well as public and private organizations from around the world and is committed to the development of new technologies as a transforming core.
So far, it has partnered with the acceleration of 1,700 startups in the industrial sector and contributed to the rise of corporate networks in Spain and 9 Latin American countries including Guatemala, Ecuador, Venezuela, Argentina, Brazil, Costa Rica and Peru.
It is a project born in 2014 and supported by Telefónica to support all those companies and industries in constant evolution that are developing projects based on blockchain technology and other disruptive technologies such as Big Data, Internet of Things (IoT) and Smart are based among others on agro, cybersecurity and digital innovation.
Blockchain is currently synonymous with innovation and cutting-edge technology. In recent years, the expected uses have followed in a dizzying manner: Blockchain in education, in public administration, in logistics, in supply chains, in copyright management, in journalism and others have more and more leeway.
Open Future is one of the various initiatives sponsored by Telefónica, encompassing the different groups and needs of specific support programs in the field of entrepreneurship, covering the development of the blockchain, taking advantage of the blockchain and providing standard components to provide traceability solutions, secure information storage and management of digital To develop assets that can be used in projects promoted by the business boom, among other things, and offer a comprehensive service to help these newly created projects consolidate.
Telefónica at the top
Spanish telecommunications giant Telefónica has been on the blockchain radar for a few years, supporting initiatives like Open Future, but more importantly: Execution of solutions both individually and together with other companies in the industry with blockchain support.
Last July, Cointelegraph reported that Telefónica, Vodafone and Deutsche Telecom, three multinational giants in the telecommunications sector, had signed a blockchain-based test solution for the roaming discount agreement.
The investment was $ 13 million from Series A for Clear, the blockchain company responsible for executing the capital cost reduction solution for the telecommunications companies involved in the agreement.
Also, In January last year, the Spanish company announced the alliance with the Association of Science and Technology Parks to give around 8,000 companies access to its private blockchain.
The company is one of a select group of multinational telecommunications companies that have used blockchain technology in recent years to optimize their processes and ensure the necessary traceability at the level of mobile identification and supplier traceability.