Spain’s largest multinational telecommunications company, Telefónica, has announced an initiative to support entrepreneurs in innovative technologies, such as blockchain and artificial intelligence (AI), according to an official press release published on Feb. 19.
The Madrid-based company — also one of the largest telephone operators and mobile network providers in the world — has launched its first “Open Innovation” call of this year via its tech incubator subsidiary, Telefónica Open Future. The month-long initiative seeks to support startups and innovative projects ready to "revolutionize traditional ecosystems through new technologies,” such as blockchain, AI, virtual reality and big data. A translation of the press release states: