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.
Wayra is part of Telefónica Open Innovation, the global area of Telefónica designed to connect entrepreneurs, start-ups, investors and partners from all around the globe to capture innovation and business opportunities. Other Open Innovation initiatives include: Telefonica Ventures, Telefonica Innovation Funds and Telefonica Open Future.