The School of Industrial Organization (EOI) Y Telefonica Spainvia the Open Innovation Hub wayra, have signed an alliance to promote the development of entrepreneurial skills among young people. These bodies consider it necessary to promote the development of support and encouragement measures to improve the development of entrepreneurship among the youngest, to contribute to the development of their entrepreneurial skills and to take measures to improve the level of self-employment and entrepreneurship among this population.

The Director General of the School of Industrial Organization, Nieves Olivera Pérez-Frade, the Director of SMEs at Telefónica Spain, Javier Vizcaíno Toscano, and Irene Gómez Luque, Director of Open Innovation at Telefónica, signed this agreement at Telefónica’s historic headquarters on the Gran Via in Madrid. José Bayón, CEO of ENISA, attended the signing to demonstrate his support for the project and his contribution to young entrepreneurship through ENISA’s participation loans.

The youth entrepreneur program It includes training and orientation for entrepreneurship as well as economic support for the establishment of entrepreneurial projects. These are free actions for the participants thanks to the co-financing of the European Social Fund, which foresees an allocation of 3.1 million euros for training and mentoring projects and 1.95 million euros for entrepreneurship financial support.

training sessions, inspirational sessions and Pitch day online

The training programs are carried out throughout the national territory. They have an online training module where the main elements of the Lean Start-Up methodology are known, which allows any young entrepreneur to become aware of the needs of the projects to start his own business. In addition, this program includes 20 hours of customized tutorials covering the key elements in the development of each project. There is currently an open one Notice nationwide and in the coming weeks specific calls will be launched in different territories such as Extremadura, Alicante, Galicia or Castile-La Mancha. Each call will establish a specific training schedule and duration, adapted to the context and needs of each region.

Thanks to the contribution of Telefónica’s Open Innovation division, the program will be completed with the development of content and activities aimed at giving these young people real experiences in business creation through inspiration sessions, investment sessions and an online pitch day. The projects present a teasers which will be evaluated by Wayra experts and 10 projects will be selected to present their idea online to the investment team in the Telefónica hub and receive feedback in the session.

In addition, the two best projects of the pitch tag You will participate directly in order to take part in the interview phase of the Open Future Gran Vía selection of the year 2022 in order to decide to participate in the acceleration process of this innovation project by Telefónica Open Innovation.

Financial support to start the project

Finally, participants can a financial support of up to €3,000 to cover the most common costs involved in starting a business challenge, such as the costs of setting up the company, developing websites or creating communication and marketing plans, among others. There will be up to 650 scholarships, the conditions of which will be published in different application periods both in the BOE and on the EOI website.

The recipients of these measures are young people from all over the national territory who are between 16 and 29 years old at the time of registering for the program and who are registered in the National Youth Guarantee Scheme. This initiative is completely free for participants thanks to funding from the European Social Fund.

The School of Industrial Organization (EOI) is a State Public Sector Foundation affiliated to the Ministry of Industry, Trade and Tourism. EOI provides training for professionals, production and dissemination of knowledge, and services for companies, entrepreneurs and administrations with the aim of promoting the values ​​of the open, social, green and digital economy.

wayra is one of the initiatives that make up Telefónica’s Open Innovation program to encourage and support the development of entrepreneurship, aiming to boost competitiveness, foster innovation, sustainable development and business growth.

Enisa is the organization of the Ministry of Industry, Trade and Tourism that finances and accompanies entrepreneurs, projects and companies with the ability to transform and promote new economic and business models.