Telefónica Movistar will invest in 100% digital startups that target mass markets and focus on 5G, e-health, e-learning, smart home, entertainment, mobility and the future of work, among others.
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Telefónica Movistar presents two initiatives to promote its open innovation strategy for the entrepreneurial ecosystem. The first is Wayra X., the first 100% digital hub to invest in startups worldwide to develop a digital product for mass consumption that can reach millions of users regardless of geographic location. The second is Wayra builder, a corporate venture builder whose mission is to leverage the talent and internal technology of Telefónica Movistar to create innovative startups with external investors.
Wayra X is committed to investing in startups from all over the world, thereby improving people’s lives by incorporating the latest technology into their daily lives. Without a specific geographic location, Wayra X focuses on projects that target and focus on mass markets 5G, e-health, e-learning, digital home, entertainment, mobility and the future of workincluding a prototype or product on the market that can be distributed among Telefónica Movistar customers around the world.
This new digital hub was launched with two startups in its portfolio and plans to invest in another ten by the end of 2021:
- BlaBla (Shanghai): Online education platform that helps English learners connect with content created by native speakers, powered by technology, through short videos Artificial intelligence Y. Machine learning.
- Peoople (Madrid): An app to discover the recommendations of friends and favorite influencers on various topics such as books, restaurants, music and all kinds of experiences.
“At Wayra X we are looking for companies that focus on mass markets and can provide technological solutions to problems that affect millions of people. Wayra X is a geographic-free, 100% digital hub designed to locate massive products that can be digitally discovered and distributed, ”said Agustin Rotondo, Wayra Hispam Regional Manager.
By participating in Wayra X, startups get access to a great team of experts and mentors. In addition, they are offered services to scale their businesses, which are provided 100% remotely, offer quick access to customers, test the pre-installation in terminals and offer the possibility of integration with Movistar + LivingApps.
Wayra Builder, for its part, will focus on partnering with outside investors to create startups that leverage the high potential technology developed in-house at Movistar. The first startup since Wayra Builder is Deeder, specializing in cybersecurity and Legal tech Y. ground out from an innovation project by ElevenPaths, Telefónica Tech’s cybersecurity company. His solution enables contracts to be signed using messaging apps.