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It s now ten years ago that Telefónica announced plans to launch a startup incubator and youth apprenticeship program across its European and Latin American footprint. In the intervening decade, the Spanish telco s Wayra division has invested almost €50 million (US$60 million) in 800 startups and helped create more than 10,000 jobs. Telefónica also noted that the investment has appreciated by more than 70% over this period, while 75 startups have now exited the Wayra portfolio. Irene Gómez, director of Connected Open Innovation, the Telefónica unit that integrates Wayra, said more than 250 startups have also been able to work directly with Telefónica, thus achieving one of Wayra s main objectives, that startups can scale their businesses with Telefónica.

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