This article was published on February 18, 2014

Telefónica’s Wayra startup incubator extends its reach into China


Telefónica’s Wayra startup incubator extends its reach into China

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

The deal is Wayra’s first partnership in Asia and it sees 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’s 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 Telefónica. Today’s announcement explains that “successful products developed by Chinese startups” will have an opportunity to gain “access” the operator’s 320 million plus customers, which span 24 countries worldwide.

“We 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,” Gonzalo Martin-Villa, CEO of Wayra, said in a statement.

The <3 of EU tech

The latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!

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

Image via DOMINIQUE FAGET/AFP/Getty Images

Get the TNW newsletter

Get the most important tech news in your inbox each week.

Published
Back to top