Telefonica’s Open Future innovation platform has signed a partnership agreement with Korea Telecom (KT) and state ICT centre G-CEIC to accelerate entrepreneurship and help startups expand internationally. Under the terms of the deal, the partners will work together to boost the South Korean government’s programme in the Gyeonggi province, near the country’s capital, Seoul. The partners said the agreement would open up new opportunities for existing Open Future and Korean startups to access new markets and services such as workspaces present in established Open Future centres and a new innovation centre created by the South Korean government and KT. The selected startups will also have access to support and incubation from the respective investment vehicles of Telefonica and the South Korean government.
The new agreement serves to extend the footprint of Open Future – Telefonica’s innovation platform integrating all of its investment vehicles and initiatives such as Wayra and Amerigo – to more Asian countries and follows the deal it signed last year with China Unicom and Tsinghua Holdings.
