{"id":30237,"date":"2017-11-16T18:30:26","date_gmt":"2017-11-16T17:30:26","guid":{"rendered":"http:\/\/cms.munich-startup.net\/?p=30237"},"modified":"2017-11-16T15:45:12","modified_gmt":"2017-11-16T14:45:12","slug":"wayra-reinvents-itself","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/30237\/wayra-reinvents-itself\/","title":{"rendered":"\u201cBig Bang\u201d: Wayra reinvents itself"},"content":{"rendered":"

Wayra Germany presented its new startup support model on Thursday evening. With this redesign, Telef\u00f3nica's venture unit aims to provide mature startups and young technology companies with a boost in innovation and growth.<\/strong><\/p>\n

To achieve this, Wayra relies on a \u201cventure client\u201d model, which is also practiced in this form by the Munich heavyweight BMW within the framework of the Startup Garage<\/a>The central element: Startups should become Telef\u00f3nica customers and suppliers to one of the world's largest telecommunications companies. Through direct project work with Telef\u00f3nica's business units, they can improve their operations and benefit from a global network. In addition, Wayra provides financial support, operational resources, and coaching, provides office space for the startups, and organizes networking events within the startup ecosystem and the company.<\/p>\n

Wayra targets young, growing technology companies with a focus on the Internet of Things (IoT), data analytics, cybersecurity, and artificial intelligence (AI). Christian Lindener, Managing Director of Wayra Germany since February 2017 and initiator of the new model, announced the relaunch on Thursday evening at Wayra's "Big Bang" event<\/a> presented.<\/p>\n

Startup scene in rapid change \u2014 Wayra is changing with<\/h3>\n

Wayra launched its accelerator program in Germany in 2012 and has since successfully developed around 40 startups.<\/p>\n

\u201cWayra was the international pioneer in corporate entrepreneurship,\u201d<\/p><\/blockquote>\n

says Christian Lindener. <\/strong><\/p>\n

"Our successes show that our approach was the right one. But that doesn't mean we should continue exactly as we started five years ago. When supporting innovation, we must focus on the needs of a rapidly evolving startup and technology scene. And as a venture unit within a corporation, we must also clarify where we can best help. Our new venture client model starts right here."<\/p><\/blockquote>\n

Why the Venture Client Model<\/h3>\n

The venture capital landscape is particularly dynamic in Germany. There are now almost 100 corporate accelerators, incubators, and labs operating in the country. The investor scene is highly diverse. Venture capital deployment has increased dramatically in recent years and is primarily used in a risk-averse manner. The volume increased from around \u20ac570 million in 2012 to more than \u20ac950 million in 2016 (source: German Private Equity and Venture Capital Association \/ BVK). Furthermore, Germany has a higher proportion of high-tech startups and young technology companies than many other industrialized countries. Wayra Germany's decision to adopt a venture client model was made against this backdrop.<\/p>\n

\u201cImplementing a technology project for a world-leading telecommunications company, i.e. subjecting one\u2019s own products and developments to a tough reality check, can mean a real growth boost and leap in sales for startups,\u201d<\/p><\/blockquote>\n

explains Lindener.<\/p>\n

\u201cAt the same time, the customer-supplier relationship clearly defines mutual expectations and reduces the risk of disappointment \u2013 on both sides.\u201d<\/p><\/blockquote>\n

Wayra and Telef\u00f3nica's business units not only support the implementation of the technology project, but also assist in the marketing of products, connect the young companies with decision-makers from other corporate divisions, and establish contact with their distribution network and commercialization channels.<\/p>\n

From bootcamp to participation<\/h3>\n

Wayra aims to identify and support up to ten startups annually. Startups will benefit from the venture client model in multiple ways. They will initially receive four months of intensive support. The one-month pre-acceleration phase is followed by a three-month phase in which a technology project is implemented for Telef\u00f3nica. Intensive coaching sessions (boot camps) with experienced managers and founders take place one week a month. Continuous exchange takes place with Wayra's and Telef\u00f3nica's global network of mentors, founders, and technology and industry experts.<\/p>\n

In the initial phase, Wayra does not invest in the respective companies (\u201czero equity\u201d approach): The startup receives \u20ac25,000 for the implementation of the technology project. If the project is successful, there is the option of follow-on financing, which Wayra can use to with up to 350,000 euros in the company<\/strong>.<\/p>\n

Wayra, the innovation scout<\/h3>\n

For Telef\u00f3nica, Wayra acts as a global technology and innovation scout: The venture unit identifies companies with innovative pioneering technologies that fit the telecommunications group's growth strategy and subjects them to a thorough review.<\/p>\n

"We determine whether these companies provide added value and whether there is a need for their respective solutions within the Group. If so, we invite them to apply,"<\/p><\/blockquote>\n

says Christian Lindener, who has met and evaluated several thousand young companies over the course of his professional career. Lindener wants to strengthen Wayra's network with other corporations and corporate venture units. His vision is to establish Wayra as a platform where startups, corporations, and technology experts can exchange ideas so that technological innovations can prevail and new business models emerge.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Wayra Germany presented its new startup support model on Thursday evening. With this reorganization, Telef\u00f3nica's venture unit aims to provide mature startups and young technology companies with a boost in innovation and growth. To this end, Wayra relies on a "venture client" model, a similar form of which is also practiced by Munich-based heavyweight BMW as part of its Startup Garage program.<\/p>","protected":false},"author":3,"featured_media":9731,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8,5638,1,5635],"tags":[359],"acf":[],"yoast_head":"\n"Big Bang": Wayra erfindet sich neu - Munich Startup<\/title>\n<meta name=\"description\" content=\"Wayra Deutschland hat am Donnerstag sein neues Modell der Startup-F\u00f6rderung pr\u00e4sentiert. 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