The aim is to accelerate the development of eligible startups and launch them beyond their respective home markets. The startups, on the other hand, will have the benefit of tapping into the resources and network of the telecom companies in the continents mentioned above.
A news release by Orange states that objectives of the partnership will be executed through their startup innovation arms: Singtel Innov8, Orange Fab, hub:raum and Telefonica Open Future.
“With the partnership between Deutsche Telekom, Orange, Singtel and Telefónica, “said Mr Min-Kin Mak, VP, hub:raum, Deutsche Telekom, “we see a huge opportunity to develop the bridges between the ecosystems in Asia, Africa, Europe and Latin America and to provide startups with critical market access, funding and expertise to become more successful with their international expansion.”
However, benefits of the partnership are available only to startups that are supported by hub:raum, Orange Fab, Telefonica Open Future, Singtel Innov8 and a network of startup support and funding initiatives across Southeast Asia, Innov8 Sparks.