This initiative is a step forward to scale wireless and mobile start-ups developing products and applications based on a myriad of wireless and mobile technologies.
The new time define new rhythmus and tendency. Cooperation is doubtless a sign of the time. Telefónica, in this regard, is pioneering and constantly promote the collaboration with other stakeholders. Indeed, Wayra Open Future start-ups will have access to CW’s 400 and to the technology business. CW business now able to access Telefonica’s global customer base including access to Telefonica’s global customer base
What it is about? Wayra Open Future, Telefonica’s digital start-up accelerator, has signed a new partnership with Cambridge Wireless (CW) to support growing mobile and wireless technology businesses and to strengthen links between London and Cambridge tech hubs.
In short, this partnership will allow CW members to tap into Telefonica Open Future’s global entrepreneurship and innovation network, which has already invested over 300 million euros in 500 businesses, across 17 countries. At the same time, specialist teams identified as developing innovative wireless, mobile and IoT technologies will also have the opportunity to access Wayra Open Future’s investor network and acceleration services.
One of the key drivers of the partnership is to leverage the reach of Telefonica’s commercial brands. If applicable, businesses will get the opportunity to access a global customer base of more than 300 million throughout Europe and Latin America. Wayra Open Future will also act as an additional channel to ‘plug’ CW members into the UK’s start-up ecosystem.
In figures, over 100 Wayra Open Future start-ups will benefit from discounted CW membership, access to an extensive programme of technology events and conferences, along with the opportunity to collaborate with a global network of 400+ businesses. “The real potential of this partnership is to strengthen regional ecosystems across the UK as a whole” says Gary Stewart, Director at Wayra Open Future, UK (@garystew).
“Wayra Open Future and CW are exemplars as to the aspirations and global appetites of our UK tech-based businesses. Many of the products and applications they’re developing will provide compelling, industry-changing solutions in years to come.” “This is a very exciting partnership, creating many opportunities for these exciting new businesses to become part of a well-established and connected eco-system around connected devices, data and services, leveraging the strengths of Wayra Open Future and Cambridge Wireless,” says Abhi Naha, Head of Marketing and Business Development at Cambridge Wireless.
CW is the latest organisation to partner with Wayra Open Future, following the launch of Velocity Health, the UK’s first digital start-up accelerator programme, which is backed by global healthcare company Merck Sharp & Dohme Ltd (MSD).
Wayra Open Future
WAYRA gives direct funding to the selected start-ups and acceleration services (such as coworking space for the start-up team, connectivity services, mentoring, access to Wayra’s network and knowhow, training in entrepreneurship and business skills, etc). We give about $US50.000 as financial investment and other $US70.000 in acceleration services, or an equivalent amount in local currency determined by Wayra, in exchange for a little equity stake in the companies.
At about four years from its launch, Wayra already owns a portfolio comprised of over 400 operating companies, grouped in more than 20 digital industries. The funds compromised by Telefonica in the accelerated start-ups by Wayra surpass €18M, while third parties (public and private funds and angel investors) have granted funding to the companies over €60M.
The estimated valuation of all the companies in the portfolio gets already over €500M. Wayra is part of Telefonica Open Future_, the open programme that integrates the different initiatives of the whole Telefonica Group related to entrepreneurship and innovation. It includes as well, alliances with external partners to enhance the impact and scope of these initiatives at a global scale.
wayra.co.uk | @WayraUK
For Wayra Open Future, please contact:
Danny Bartlett, Head of Communications, Wayra Open Future, UK
+44 (0) 7860 760 841, danny.bartlett@telefonica.com
CW is the leading international community for companies involved in the research, development and application of wireless & mobile, internet, semiconductor and software technologies. With over 400 members from major network operators and device manufacturers to innovative start-ups and universities, CW stimulates debate and collaboration, harnesses and shares knowledge, and helps to build connections between academia and industry. CW’s 19 Special Interest Groups (SIGs) provide its members with a dynamic forum where they can network with their peers, track the latest technology trends and business developments and position their organisations in key market sectors.
CW also organises the annual Future of Wireless International Conference and Discovering Start-ups competition along with other high-quality industry networking events and dinners.
With headquarters at the heart of Cambridge, UK, CW partners with other international industry clusters and organisations to extend its reach and remain at the forefront of global developments and business opportunities. For more information, please visit www.cambridgewireless.co.uk | @cambwireless
For Cambridge Wireless please contact:
Abhi Naha, Cambridge Wireless
+44 (0) 1223 967101, abhi.naha@cambridgewireless.co.uk
Peter Rennison / Allie Andrews, PRPR, 01442 245030, pr@prpr.co.uk, allie@prpr.co.uk
