The new centre will provide innovative businesses in the mobile internet and creative media industries with technical expertise, potential financial assistance, logistical support and access to more than 400 million Vodafone customers across more than 30 countries worldwide. It will draw on the expertise of Vodafone Ventures, the company’s corporate venture capital arm, which has been successfully investing in innovative new businesses for over a decade.
The decision to locate a new technology and incubation centre in Tech City builds on the success of Vodafone xone, which opened in Silicon Valley a year ago. Vodafone xone identifies innovative US start-ups and helps them move quickly to market. It offers companies support from a team of professionals whose expertise spans business development, network and device architecture, consumer electronics, payment and billing mechanisms, data analytics and content delivery.
Trade and Investment Minister Lord Green said: “I warmly welcome Vodafone’s plans to open a technology lab and incubation centre in London’s Tech City. This announcement is an excellent reflection of Tech City’s success as a thriving hub of innovative technology companies, combined with ready access to Europe’s largest venture capital community.”
“With the world's spotlight on the UK this summer, we are working hard through the British Business Embassy programme to help technology companies capitalise on the unique opportunity we have in 2012 to secure new trade and investment.”
Siavash Alamouti, Vodafone Group Research and Development Director said: “Vodafone is delighted to confirm its intention to set up a new R&D and incubation centre in Tech City. This exciting new centre will build on our existing Vodafone xone facility in Silicon Valley, giving cutting-edge British high tech start-ups access to the expertise and global reach of Britain’s largest ICT company.”
“We believe that the great talent, entrepreneurial spirit and wealth of start-up companies, in both the mobile internet and creative media industries, that are to be found in East London, make Tech City a great location for this centre.”
Vodafone intends to have its centre in Tech City up and running towards the end of the year.