Wayra Builder creates new startups
The Wayra Builder unit aims to create Startups around innovative ideas with high market potential.
Different elements come together in the creation of these new companies: Technology and/or intellectual property (it can be from Telefónica, from universities or business schools, or from a partner), strategic partners who co-create with us, entrepreneurs who lead the projects, and investors who validate the ideas and co-invest with Telefónica.
The way we create
Identify the idea
Venture Building projects are the result of an exhaustive exercise to identify ideas and/or technologies owned by TEF or any of the partners with whom we are working.
Once the idea has been selected, a business plan is developed, which includes: market and competition analysis, conceptualization and prototyping of the product, definition of the business model, cost analysis, financial projections, and conceptualization of the management team.
Select the team
The second step is to identify the CEO, which we have already defined in the previous step. To do this search we leverage on universities, business schools and especially on the wide network of contacts that Wayra has been developed in its 10 years of history. Additionally, we carry out many evangelization activities for the project both internally and externally.
We need different profiles depending on the type of startup and the degree of maturity, being necessary commercial profiles for those Startups where the product is developed and what is needed is a direct sale, and more technical profiles when we deal with ideas or technologies that need to develop the product.
Looking for co-investors
All projects need a minimum amount of funding to be carried out, depending on the type of each project this amount will be lower or higher. In any case, when we develop the business plan, we estimate an initial funding that allows the Startup to operate for 18-24 months without the need to raise a financing round.
Constitution, development of the MVP and launching to market
Once the idea, the CEO and the co-investors have been identified, we constitute the company.
Wayra Builder supports the Startup to get the rest of the team that will develop together with the CEO the Minimum Viable Product (MVP). If necessary, we offer technical assistance from internal Telefónica teams.
After a few months of MVP development, we launch the product to the market but we still work close to the startup supporting the with their business development activities.
Corporate Venture Builder
Corporate Venture Builders allow large companies to create new ventures and achieve strategic objectives that they could not achieve on their own. This open innovation vehicle helps companies capitalize their propietary technology.
Here are some of the most frequently asked questions:
What differentiates Wayra Builder from other venture building firms is its strong commitment to innovative technology. We want to launch new products and services that change the rules of the game and add a differential value to society.
All our startups are born from technology that has been developed by one of the partners participating in the project. Depending on the startup, the maturity that we seek from the technology can vary from a simple mockup to a fully functional prototype.
Wayra Builder is an initiative with a global scope, open to both B2B and B2C business models and to all types of industries, although with special focus on AI, IoT, cybersecurity, video, Big Data and Cloud.
STARTUPS IN PORTFOLIO
Wayra invests in mature and technological startups that bring innovation to Telefonica and its customer network.
WORKING WITH TELEFÓNICA
We believe that large companies can reinvent themselves by working hand in hand with entrepreneurs.
Barcelona, Madrid, London, Múnich, São Paulo, Bogotá and Buenos Aires.
Brazil, Spain, Germany, United Kingdom, Argentina, Colombia, Chile, Mexico, Peru and Venezuela.
Wayra Builder is an initiative of Telefónica, one of the largest telecommunications companies in the world. Telefónica has about 350 million customers, its main markets being Spain, UK and Brazil. Telefónica operates in 12 countries and has a presence in 24 with an average of 113,819 employees.
With Wayra Builder we offer the opportunity to co-create Startups with Telefónica and, in addition, enjoy Telefónica’s resources and capabilities in Cybersecurity, Artificial Intelligence, IoT, Video, Big Data and Cloud. Do not miss this opportunity!