December 20, 2017

TELEFÓNICA LAUDED FOR START-UP COLLABORATION

Telefónica has been named as one of the leading corporations that are doing the most to collaborate with start-ups across Europe.

Open innovation advisory firm Mind the Bridge and innovation foundation Nesta has named Telefónica as one of the top three “startup-friendly” corporates in its Corporate Startup Stars ranking, which was announced at an event in Brussels.

European Commissioner Carlos Moedas said: “Collaboration between corporates and startups, if done right, can bring tremendous benefit to both: start-ups can access invaluable resources and market insight which can help them scale, established companies can benefit from a new mode of innovation as well as cultural change.”

Telefónica was lauded as a great example of digital transformation, which is making significant efforts to integrate accelerated start-ups into the firm. The scale and vision of their OpenFuture programme is a sign that open innovation is at the core of Telefónica’s strategy.

Gonzalo Martín-Villa, chief of Innovation at Telefónica, said: “Self-innovation in large corporations has to be complemented with open innovation in order to stay at the forefront of technological development and to remain competitive to our customers.

“For this reason, Telefónica has been a pioneer in interacting and collaborating with start-ups providing them with resources, deploying different tools and supporting them apart from their state of maturity. This award does reinforce Telefónica’s commitment to open innovation, to continue leading the development of emerging technologies such as 5G, Big Data, IoT, Cloud Computing or Artificial Intelligence in line with internal innovation efforts.”

You can see the press release here.

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