Start-ups continue to drive corporates wild with interest. The reason is simple: a new company class called start-ups are growing like crazy with incredible valuations whilst traditional commercial enterprise, be it telcos, automotive or banks look on with bulging green eyes. Ubers, Teslas and Netflixs have made their traditional corporate competitors very envious and clearly nervous. So what to do?
One large corporate saw this trend early and decided to meet it heads-on: it started a program connecting the corporation – via investment or straightforward human engagement – with start-ups, entrepreneurs and tomorrow’s geniuses. Telefonica’s Open Future, of which Wayra is the core startup project, is the largest corporate venture program in the world and it has helped the fourth largest telco to remain vital and relevant.
Wayra, Telefonica’s start-up accelerator, is active in 11 countries and to date has accelerated more than 650 digital companies. Read more