Finodex was one of the 16 accelerators of the FIWARE project through which the European community aimed to distribute funding of 80 million euros to European SMEs and entrepreneurs to launch market-ready ICT products and services that promote the European ICT ecosystem.
FINODEX provided free funding and professional services to 101 selected companies out of 500 applicants from 19 European countries, who used FIWARE technology and reused Open Data, with a total fund of €4.64 million. To do this, two calls for proposals were launched, the first on 7 October 2014 and the second in spring 2015.
The second open call closed in mid-June 2015 with 297 projects submitted. A competition that FINODEX defined as “very high level” led to the choice of 52 proposals, including WISETOWN, which ranked among the top 10 projects.
Accelerated companies have received, in addition to funding, services such as coaching, tutoring, training on FIWARE technologies and the opportunity to be part of a network of over a thousand EU entrepreneurs and over 100 stakeholders involving the public sector, corporations and major research entities in Europe. Each of the selected projects received between €10,000 and €170,000 in capitalless funding.
WiseTown’s initial kick-off was accelerated by the FIWARE Finodex project, which then presented it as one of FIWARE’s success stories and one of the projects presented at several international events such as the Smart Cities World Expo 2016 in Barcelona, the first FIWARE Summit in Malaga 2016 and the second FIWARE Summit in Utrecht in May 2017.