Wayra, which means 'wind' in Quechua, was born with the aim of becoming an accelerator for the development of future Silicon Valleys in the countries where Telef├│nica is present. Created in Latin America in April 2011, Wayra aspires to identify ideas with the greatest potential in ICT and to boost their development, providing them with the technology, mentoring and financing they need.
Entrepreneurs are invited to submit their projects to Wayra which then selects a number to take forward. Successful project are provided with financing (in exchange for a 10% share), access to Telef├│nica resources (including management and technical expertise) and a place to work.
Wayra is currently present in nine countries (Argentina, Brazil, Chile, Colombia, Spain, Mexico, Peru and Venezuela), and has plans to expand further in Europe during 2012, launching in the UK, Ireland, Germany and Czech Republic.