On November 16, 2017, Wayra celebrated in Munich the big “Big Bang” party and announced the beginning of a new era. To find out what startups can expect from Telefónica's venture unit and what a potential collaboration might look like, we asked Wayra CEO Christian Lindener a little more detail.
Christian, please introduce Wayra to us again briefly!
Wayra is Telefónica's venture capital track and a global initiative with locations in ten countries, including Spain, the UK, Germany, and seven Latin American countries. Wayra Germany has so far supported around 40 startups and young companies from its Munich office.
Startups benefit from the global network
What are Wayra’s goals and how do you work?
Wayra identifies and supports innovative, growing startup teams and young technology companies, aiming to accelerate digital innovation. Wayra supports startups through a venture client model and provides them with direct access to Telefónica. This enables them to gain one of the world's leading telecommunications companies as a client, improve their operations through direct interaction with Telefónica's business units, and benefit from its global network. Wayra also offers support through financial resources, coaching, office space, and events. In addition to Telefónica, we connect you with other tech companies in Germany, leveraging our B2B relationships and distribution network.
What are the most important cornerstones of your startup program?
- the venture client model
- the implementation of a tech project with Telefónica
- Zero-equity approach (€25,000 funding)
- one week of bootcamp coaching per month
- After successful project completion, long-term commitment by Wayra/Telefónica is possible (shareholding in the company).
What do you focus on when it comes to investments?
Mature high-tech startups in the fields of Internet of Things (IoT), data analytics, cybersecurity and artificial intelligence.
Are there any success stories you can look back on?
Wayra Germany has an impressive track record in the development of its 38 supported startups to date. In 2017, for example, Wayra startup Neokami, which offers an artificial intelligence solution for protecting corporate data, to relayr. The Munich AI startup e-bot7 was able to implement its solution into the system landscape of one of Europe's largest telecommunications companies. In September 2017, Automotive supplier Continental acquired the Wayra startup Parkpocket, provider of a data-based service in the area of off-street parking.
What do you focus on when working with startups?
• To acquire Telefónica (GER; UK; SP) with over 350 million customers and a market capitalization of over 54 billion euros as a customer (Venture Client)
• Business Development
• Operational Accelerator
• Investor (up to 350K)
To be successful, a startup must…
… Sales, Sales, Sales can.
Why does a good startup even need an accelerator or something similar? What can you offer?
With the first major customer comes the first major investment. We purchase your technology for use within the company. Furthermore, we have an excellent network and are able to both invest ourselves and connect with investors.
What do you think is the biggest mistake a startup can make?
• Selling equity too early
• Carelessly building the team too quickly
The trend of the year is…
…AI for everything 😉
What makes the Munich startup scene so special for you?
• B2B startups that do instead of talking, develop instead of marketing
• High technologies
• Proximity to the tech giants (Telefónica, IBM, Google, BMW)
Last but not least: Who do startups approach when they want to talk to you?
Thank you for the interview!
