As you all know from our previous posts concerning Innovation, Telefónica is fully involved and committed with the need to support and foster innovation as a key element for the future welfare. Therefore, Telefónica has launched several initiatives to back innovation in the ICT environment. After launching Wayra initiative with its 12 academies worldwide, the Telefónica ventures or supporting the Campus Party initiatives, this company has presented this week its international network of technology venture capital funds, called Amerigo.
Promoted by Telefónica Digital, Amerigo will be the way to support those new businesses that bet for innovation. Amerigo will be a way to finance technology entrepreneurs outside the most common innovative places such as Silicon Valley or London, open to any technology entrepreneur coming from the public or private area, promoting the most innovative and creative technological projects, so as to foster entrepreneurial talent worldwide.
Amerigo will be launched in four countries where this initiative has already received the support of governments of Spain, Colombia, Chile and Brazil but also specialized IT financial institutions. Once again, the public-private tandem shows its strengths and the possibility to effectively support innovation, and will gather an initial capital of 300 million euros. This capital will allow the launch and management of innovative technological projects of a value around 1 billion euros.
This is another way on how to stimulate technology innovation and bet for creative and value-added entrepreneurship worldwide!