Orange, Deutsche Telekom, Singtel and Telefonica have all joined forces to connect the startup ecosystem in Africa with other continents such as Asia, the Middle East, Europe and Latin America.
Doing this, the four telecom giants hope they will help to boost the growth of eligible startups, while also helping them to launch beyond their respective home markets. On the other hand, the startups will also have the benefits of being able to access the resources and network of the four world renowned telecom giants in the aforementioned continents.
In a news release by one of the four companies, Orange, the objectives of the partnership will be executed through their startup innovation arms: Singtel Innov8 (Singtel), Orange Fab (Orange ), hub:raum (Deutsche Telekom) and Telefónica Open Future (Telefónica).
“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,” the news release reads.
Only startups with support from hub:raum, Orange Fab, Telefonica Open Future, Singtel Innov8 and a network of startup support and funding initiatives across Southeast Asia, Innov8 Sparks will be able to access the benefits of the new partnership.