Orange Fab offers selected start-ups three months of support to allow them to develop their products and services. They also receive valuable advice from Orange innovators and experts as well as a number of entrepreneurs. In certain countries, eligible start-ups also receive funding in the form of convertible bonds.
Supporting start-ups is one of the pillars of Orange’s open innovation approach to accelerate the marketing of innovations that will benefit its customers. The Group aims to support 500 start-ups across the world by 2020 with a focus on the rapid realisation of commercial partnerships, or in some cases, joint ventures, via Orange Digital Ventures, its investment fund for early age start-ups.
Through Open Future_ initiatives (Think Big, Talentum, Crowdworking spaces, Wayra, Telefónica Ventures, Amerigo and the CIP platform), Telefónica covers all stages of support for entrepreneurship: ecosystem and local talent empowering, ideas and disruptive projects acceleration, scale up and investment on IT SMBs.
Open Future- universe has a network of more than 30 work spaces in 3 continents (Latam, Europe and Asia) through its offices in 17 countries. With a portfolio of over 600 start-ups invested worldwide and 85 agreements with public and private partners, Telefónica and its partners have committed EUR 364 million to Open Future_ and helped creating 10,000 jobs around the Globe.