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 and inclusive digitalization of the region that helps narrow the gaps and help entrepreneurs and corporations consolidate their place at the forefront of the digital world.”
Interest in the region among VCs has increased in the past year. Wind Ventures, the corporate venture capital arm of Copec, a Chile-based energy company in Latin America and the southeast US, said its second annual survey found VC sentiment toward Latin America (Latam) as an attractive growth market…
