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Telefónica rejiggers startup acceleration platform Wayra

Bnamericas Published: Thursday, September 20, 2018
Telefónica rejiggers startup acceleration platform Wayra

Spanish telecom group Telefónica reshuffled and relaunched its Wayra startup acceleration platform, according to a statement.

Previously a general startup accelerator, Wayra will now focus on startups with a clear business plan and with projects better aligned to Telefónica's own business, particularly concerning the digital transformation of the telco and its subsidiaries.

Wayra will pursue projects focused on big data, AI/machine learning, cybersecurity, fintechs and blockchain, among other technologies.

Telefónica has invested over 160mn euros (US$188mn) in Wayra since 2011 in 16 markets. In Brazil, Wayra has allocated 11mn reais (currently US$2.7mn) since its arrival six years ago to accelerate 68 startups.

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