Wayra
Wayra is a start-up accelerator which was started in Latin America and Spain in 2011 as an initiative of Telefónica's chief executive in Europe, José María Álvarez-Pallete.[1][2]
The start-up companies receive funding, office space and mentoring.[3] The manager of the Wayra Academy in London explained their business strategy, "It's not just about the ideas. We are using Wayra as a way of acquiring great talent for Telefónica."[2]
The first Wayra started in Colombia in mid 2011 and expanded to ten more countries that year.[4] In 2013, there were 14 Wayra academies in 12 countries in Europe and Latin America and Telefónica planned to support about 350 startups altogether.[5][2] In March 2015, Telefónica closed down the Wayra in Prague, as part of Telefónica's general exit from that market.[6] In 2015, Volo, which had been started at the Munich Wayra, was sold to Rocket Internet[7]
References
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