The launch of CIV-LAC as a regional corporate entrepreneurial platform is expected to help 600 startups.

Spain-listed phone operator Telefónica’s Wayra corporate venturing unit has partnered with Inter-American Development Bank (IDB) to set up an open innovation and corporate entrepreneurship platform in Latin America.

The launch of CIV-LAC as a regional corporate entrepreneurial platform is expected to help 600 startups through open innovation processes with large and medium-sized companies from Spain and Latin America.

José María Álvarez-Pallete, president of Telefónica, said: “This partnership and collaboration enables us to maximize our contribution toward just socioeconomic development through a green…

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James Mawson

James Mawson is founder and chief executive of Global Venturing.