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Four Telcos join forces for startups

Four Telcos join forces for startups

Posted by PanamericanWorld on September 11, 2015

Leading international mobile phone operators – SingtelOrangeDeutsche Telekom and Telefónica  –  have joined forces in an ambitious attempt to bridge and promote  the start-up ecosystems across Southeast Asia, Africa, Europe, Latin America and the Middle East.

This initiative will be led by the innovation and investment arms of these telcos – Singtel Innov8Orange Fabhub:raum and Telefónica Open Future

Interestingly, these operators are all incumbents, and many are confronted with legacy issues of large work forces and ageing physical infrastructure, even as nimble competitors are snapping at their heels.

Besides, with telcos’ traditional business models under threat from falling revenues, increased competition from Over-The-Top (OTT) services, and a shift towards data-based voice communications, these incumbent mobile phone companies say they want a share of the global startup boom by partnering and investing in upcoming companies in the fields of communication and digital innovation.

The four operators – Singtel, Orange, Deutsche Telekom and Telefónica – say the partnership aims at catalysing the growth of eligible start-ups and launching them beyond their respective home markets. This will see selected start-ups being allowed to tap into the resources and network of these mobile phone companies.

These startups will also have access to market insights, introductions to partners, use of co-working spaces and access to the companies’ operating businesses. Besides, these startups may also have the opportunity to gain access to the operators’ collective mobile customer base of over one billion people across four continents.

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