Telef贸nica’s Wayra startup incubator extends its reach into China

Telef贸nica’s Wayra startup incubator extends its reach into China

Wayra, the startup incubator launched by Telef贸nica聽in 2012, has expanded its reach to China after announcing a deal with聽Virtue Inno Valley (VIV), a well-respected accelerator program run by聽Tsinghua University.

The deal is Wayra鈥檚 first partnership in Asia and it sees聽VIV become a member of the Wayra Global Alliance. That essentially means it will enjoy a range of shared resources that include expertise, mentoring, training, media and investment opportunities, while the alliance鈥檚 14 members worldwide gain the benefits of a partner on the ground in China.

Perhaps most importantly for VIV, the deal gives it a link to聽Telef贸nica. Today鈥檚 announcement explains that 鈥渟uccessful products developed by Chinese startups鈥 will have an opportunity to gain 鈥渁ccess鈥 the operator鈥檚 320 million plus customers, which span 24 countries worldwide.

鈥淲e have consolidated operations in Europe and Latin America, and extending the Wayra network to Asia is a great step for us to create something remarkable in the startup industry,鈥 Gonzalo Martin-Villa, CEO of Wayra, said in a statement.

Related:聽How Wayra hopes to create many Silicon Valleys across Latin America

Image via聽DOMINIQUE FAGET/AFP/Getty Images

Read next: Legendary guitarist Slash will hold a music-focused hackathon at SXSW

Shh. Here's some distraction