Telefónica announced yesterday that it will invest up to US$200 million in strategic innovation Coral Group, to develop and deliver integrated solutions for the digital telco.
Telefónica’s investment is led by their Telefonica open future team. Telefonica open future is a program to encourage technology entrepreneurs to undertake technology challenges and to create innovation. From drones, to health care, agriculture to big data, Telefonica is actively encouraging and supporting the transition to the digital entrepreneurs. Telefonica in many ways is not only leading the transformation to digital telco it is continuously evolving the definition of the digital telco.
From the Strategy page on Telefonica’s website (here)
Telefónica, a Digital Telco, is ready to lead and assist this process of digital transformation. Technology provides us with unimaginable possibilities and can improve our lives in thousands of ways. Therefore, we want to be players in this new ecosystem and provide everyone the best that technology can offer, so that everyone can enjoy this fascinating world.
From the Innovation page on Telefonica’s website (here)
We want to be the key players in the new digital universe, filled with opportunities and improvements to people’s day-to-day lives and capabilities, helping furthermore, to create a more sustainable world.
Telefónica has long been a proponent and trailblazer in the digital telco transformation. It is a company that not only talks the talk, but walks the walk. Not all Telefónica’s initiatives will pan out in the end, but that is the startup mentality. You don’t create innovation by waiting around, it’s about taking risks and being agile. The digital telco is not about closing gaps with OTTs, it is about leapfrogging into the lead and opening up gaps behind you. The digital telco is a brave new world, only companies with innovation in their DNA will survive.