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Learning from the Open Innovation early movers.

Telcos have been trailblazers in open innovation allowing them to accrue a lot of first hand experience in startup-corporate collaboration. Then analyzing what they are up to can provide interesting insights for all other companies.

In this Mind the Chat we sit with Paresh Modi, Group Head of Business Development & Innovation. Together we go through the different innovation initiatives Vodafone is currently running and assess KPIs and results achieved. 

Specifically:
- Multiple acceleration programs, ranging from UPLIFT (goal to open up Vodafone’s distribution channels  to startups), F-LANE (gender based)  and Tomorrow Street (headquartered  in Luxembourg and primarily focused on scaleups).

- A world class procurement Startup Fast Track, able to onboard startups in 7 days (and pay them in 21 days).

- A brand new intrapreneurship program (Launchpad) that, in the first year (despite lockdown), involved over one tenth of the workforce and generated nearly 1,200 ideas from 19 different countries and 6 departments. 

- A new mentoring programme (Bright Sparks), to associate early stage startups with Vodafone experts. Run in 2020 with 10 startups from Oxford University Innovation, it will be scaled up to all Europe this year.

We also go through Vodafone’s decision to pause their CVC fund, though they continue to invest (and acquire) opportunistically where they can add/extract  real strategic value.
Mind the Chat with Paresh Modi (Vodafone)

Learning from the Open Innovation early movers.

Telcos have been trailblazers in open innovation allowing them to accrue a lot of first hand experience in startup-corporate collaboration. Then analyzing what they are up to can provide interesting insights for all other companies.

In this Mind the Chat we sit with Paresh Modi, Group Head of Business Development & Innovation. Together we go through the different innovation initiatives Vodafone is currently running and assess KPIs and results achieved.

Specifically:
- Multiple acceleration programs, ranging from UPLIFT (goal to open up Vodafone’s distribution channels to startups), F-LANE (gender based) and Tomorrow Street (headquartered in Luxembourg and primarily focused on scaleups).

- A world class procurement Startup Fast Track, able to onboard startups in 7 days (and pay them in 21 days).

- A brand new intrapreneurship program (Launchpad) that, in the first year (despite lockdown), involved over one tenth of the workforce and generated nearly 1,200 ideas from 19 different countries and 6 departments.

- A new mentoring programme (Bright Sparks), to associate early stage startups with Vodafone experts. Run in 2020 with 10 startups from Oxford University Innovation, it will be scaled up to all Europe this year.

We also go through Vodafone’s decision to pause their CVC fund, though they continue to invest (and acquire) opportunistically where they can add/extract real strategic value.

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