Europe’s 25 Corporate Startup Stars winner has been busy creating an ecosystem of start-up investment opportunities
Building on its support of innovation, Spanish telecommunications company Telefonica created Open Future to find and develop technical talent and entrepreneurship.
A key part of this is working with start-ups from around the world, which it supports through a variety of programmes and initiatives, in particular the Wayra corporate business accelerator.
One successful partnership coming out of the accelerator is Qudini, which develops queue management systems and has since been integrated with telecommunications company O2 and Movistar Spain.
Working with start-ups throughout their lifecycle gives Telefonica Open Future (TOF) a diverse pool of potential investment opportunities to tap into.
TOF estimates that the hundreds of start-ups it has worked with to date has saved the company €53m and created new revenue of €10m.
Image courtesy of SVC2UK CEO Summit 2015.
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This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 644104.