Telefnica Espaa and EOI promote youth entrepreneurship program with more than 5 million euros
The School of Industrial Organization (EOI) and Telefnica Espaa, through the Wayra open innovation hub, have signed an alliance to promote the development of entrepreneurial skills among young people. These entities consider it necessary to move forward in the development of support and the desire to help improve the development of entrepreneurship among the youngest, by contributing to the development of their entrepreneurial skills and by taking action to improve the levels of self-employment and entrepreneurship among this population.
The General Director of the School of Industrial Organization, Nieves Olivera Prez-Frade, the SME Director of Telefnica Espaa, Javier Vizcano Toscano, and Irene Gmez Luque, Director of Open Innovation at Telefnica, signed this agreement at the headquarters history of Telefnica. on the Grand Chemin de Madrid. The signing took place in the presence of Jos Bayn, CEO of ENISA, as a sign of support for the project and its contribution to young entrepreneurship through ENISA participatory loans.
The Youth Entrepreneurship Program consists of training and orientation in entrepreneurship, as well as financial assistance for the start-up of entrepreneurial projects. These are free actions for participants thanks to co-financing from the European Social Fund, which provides for an allocation of 3.1 million euros for training and mentoring projects and 1.95 million euros for financial support for entrepreneurship.
Training programs are provided nationwide. They have an online training module, where the main elements of the Lean Start-Up methodology will be learned, which allows each young entrepreneur to become aware of the needs of projects to create his own business. In addition, this program includes 20 hours of individualized tutors with whom to cover the key elements of the development of each project. Currently, a national call is open and in the coming weeks, specific calls will be launched in different territories such as Extremadura, Alicante, Galicia or Castilla-La Mancha. Each call will specify a specific training itinerary and duration, adapted to the context and needs of each region.
Thanks to the contribution of Telefnica’s Open Innovation space, the Program will be supplemented by the development of content and activities aimed at offering real experiences of business creation to these young people, through inspirational sessions, investment sessions and an online Pitch Day. . The projects will feature a teaser which will be evaluated by Wayra experts and 10 projects will be selected which will be able to present their idea online to the Telefnica hub investment team and receive feedback during the session.
In addition, the two best projects of the pitch day will directly compete in the interview phase of the Open Future Gran Va selection for the year 2022 to choose to participate in the acceleration process of this Telefnica Open innovation project. Innovation.
Finally, participants will be able to apply for financial assistance of up to € 3,000 to cover the most common costs when starting any business challenge, such as the costs of starting a business, developing web pages or preparation of communication and marketing plans, among others. There will be up to 650 grants for this purpose, the terms of which will be published at different call periods both in the BOE and on the EOI website.
The beneficiaries of these actions are young people from all over the country who, when they register for the program, are between 16 and 29 years old and are registered with the National Youth Guarantee System. This initiative is completely free for participants thanks to funding from the European Social Fund.