Mobile World Congress 2008
Telefonica Invests in Innovation
| Feb 11, 2008 | Wireless Services - Europe | Show Update
| Analyst: Emma Mohr-McClune
Current Perspective: Positive/Neutral
Vendor Importance: High
Market Impact: Moderate |
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Event Summary
February 11, 2008 -- At Mobile World Congress in Barcelona, Telefonica announced the formation of a EUR 20 million per year venture capital programme to invest in innovative and entrepreneurial technology companies. To date, investments have been made in mobile advertising solutions specialist Amobee, user recognition innovator GestureTek, and multimedia social networking specialist Kyte. By the end of 2008, there will be approximately 10 to 12 companies in Telefónica’s strategic portfolio.
Analytical Summary
• Current Perspective: Slightly positive on Telefonica's venture capital programme and its first three key investments, as a long-term bet on joined-up innovation. Telefonica has chosen wisely, hitting the hot buttons for mobile services: advertising, user interface innovation and social networking.
• Vendor Importance: High to Telefonica, as this program will allow the operator better competitive equity with Vodafone and Orange, as well as vendors such as Nokia, which have been investing in mobile start-ups for some time. This program will send the right signals to the wider mobile Internet ecosystem; specifically, Telefonica/O2 is ready to invest in a common vision.
• Market Impact: Moderate on the European wireless market, as Telefonica is just one potential source of capital for start-ups. However, its experience in Latin America adds an interesting, global dimension to the story.
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