The EU-LAC Digital Accelerator is an initiative financed under the Neighborhood, Development & International Cooperation Instrument (NDICI-Global Europe) in the framework of the EU-LAC Digital Alliance, focused on fostering multi-stakeholder and private sector collaboration, competitiveness, digital skills and innovation, through the establishment of a regional EU-LAC Digital Accelerator.
The EU-LAC Digital Accelerator works as a multi-sided platform connecting business opportunities from corporates with innovative startups and SMEs between the European Union, Latin America and the Caribbean. The initiative is formed by 10 organisations distributed in these 2 continents consolidating 1 strong team.
Do you want to know who is involved? Do not miss our ‘Meet the Team’!
Today we are interviewing Mr. Agustín Rotondo, Managing Director at Wayra Hispam.
Look what he told us in this short video and read more details of our talks in the article!
Hello Agustin! Let’s start with explaining your role at Wayra Hispam.
Hello! I lead the operations of Wayra in Spanish-speaking Latam (Argentina, Chile, Colombia, Peru, and Mexico), investing in top startups all across the region and managing a portfolio of over 100 companies while promoting business opportunities between our startups, Telefónica and its clients, and our network of +120 corporate partners throughout Latin America.
We would like to know more about your organisation, what is your focus on and what is your field of expertise.
Since 2011, Wayra has been Telefónica’s main open innovation program to connect Telefónica with the entrepreneurial ecosystem worldwide. Its main goal is to connect technology disruptors with Telefónica, its clients, and global partners to generate joint business opportunities.
As of the reshaping driven in 2018, Wayra was transformed from being a startup accelerator into a much more holistic project: a Corporate Venture Capital fund with a unique venture-client strategy that helps its startups to scale globally, offering them access to Telefónica’s network of 350 million customers, and to more than 200 Wayra´ s partners in open innovation to generate joint opportunities.
We have 7 Hubs in Europe and Latin America, serving 9 countries with the goal of accompanying and supporting entrepreneurs to reach a global scale. From the Wayra Hubs, we also develop programs with third parties in strategic verticals such as eHealth with Roche and AstraZéneca, Fintech with BNDES, and Impact innovation with Interamerican Development Bank (IDB), among others.
Now, how is this linked to the EU-LACDigital Accelerator? Can you explain the role you envision playing in this meaningful project?
Connect Latin American and Caribbean corporations with the value proposition that EU-LAC has generated. Our role will be to link corporations looking for the opportunity to collaborate with European startups and connect Latin American startups to European corporations.
What are the main actions/activities you are working/will work on in the project that you are most excited about?
Support our corporate clients and portfolio startups in finding opportunities to expand their businesses and solve their business challenges through collaboration between Europe and LAC. We will put our best tools and experience to create successful joint ventures and connect with our clients that are looking to innovate constantly.
At the EU-LAC Digital Accelerator, what is the positive impact you hope to generate?
Increase the opportunities for LAC and European entrepreneurs to expand their businesses with the corporate clients that Wayra has supported for more than ten years. Improve the quality and help to develop the corporate venturing and innovation ecosystem in LAC and Europe. Building these bridges is a key opportunity to help startups grow, and corporations solve relevant business cases.
Facilitating business expansion: By providing LAC and European entrepreneurs with access to the corporate clients supported by Wayra over the past decade, we aim to increase opportunities for startups to expand their businesses. This collaboration opens doors to new markets, resources, and potential partnerships that can fuel growth and success.
Enhancing the corporate venturing and innovation ecosystem: Our focus is not only on startups but also on developing the corporate venturing and innovation ecosystem in both LAC and Europe. Through knowledge sharing, mentorship, and networking opportunities, we aim to improve the quality of corporate innovation initiatives, foster a culture of entrepreneurship, and promote collaboration between startups and corporations.
Bridging the gap between startups and corporations: Building bridges between startups and corporations is a key opportunity for mutual benefit. Startups can leverage the expertise, resources, and market reach of corporations, while corporations can tap into the innovative solutions and agility of startups to solve relevant business challenges. By fostering these connections, we strive to create a symbiotic relationship that drives innovation and growth.
Supporting startup growth: The EU-LAC Digital Accelerator aims to provide startups with the necessary support and resources to thrive. This includes access to funding opportunities, mentorship from experienced professionals, and guidance in navigating the complexities of scaling a business. By offering a conducive environment for startup growth, we aim to contribute to the overall economic development of both regions.
Overall, the EU-LAC Digital Accelerator seeks to create a positive impact by fostering collaboration, driving innovation, and supporting the growth of startups and corporations in LAC and Europe.
What do you think are the biggest challenges to boosting digital cooperation between Europe and Latin Am America, and the Caribbean? And the keys to solving them?
The main challenge is to find a proper alignment between the solutions that startups can bring and the challenges that corporations need to solve. This process is critical to driving successful joint ventures.
Bridging the knowledge and technology gaps: There is a need to address the disparities in digital infrastructure, connectivity, and technological advancements between the two regions. Efforts should promote knowledge exchange, technology transfer, and capacity-building initiatives to narrow these gaps.
Cultural and language barriers: Europe and Latin America, and the Caribbean encompass diverse cultures and languages. Overcoming these barriers requires fostering a deeper understanding and appreciation of each other’s cultural nuances, as well as promoting language learning initiatives and cross-cultural collaborations.
Regulatory and legal frameworks: Harmonizing and aligning regulatory frameworks across different jurisdictions is crucial for facilitating digital cooperation. Addressing issues such as data protection, privacy laws, intellectual property rights, and cross-border trade barriers is essential to create a conducive environment for collaboration.
Building trust and partnerships: Establishing trust among stakeholders is fundamental to fostering successful digital cooperation. Encouraging public-private partnerships, facilitating networking opportunities, and promoting dialogue between governments, businesses, and civil society can help build trust and forge collaborative relationships.
Supporting innovation and entrepreneurship: Encouraging innovation ecosystems and startup ecosystems can foster collaboration between startups and established corporations. Funding, mentorship programs, and networking opportunities can help startups and entrepreneurs play a more significant role in driving digital cooperation between the two regions.
Do you have previous experience managing European projects? What is the most rewarding thing about it?
As Wayra we have promoted open innovation and CVC projects in Madrid, Barcelona, London, and Munich, among other cities. This and our presence in Argentina, Chile, Brazil, Mexico, Colombia, and Peru allow us to collaborate and be a relevant actor in this challenge.
To Conclude, how would you describe the EU-LAC Digital Accelerator in one sentence?
It is a transformative platform that presents a unique opportunity to foster collaboration and drive innovation between Europe and Latin America, as well as the Caribbean, driving digital advancement for sustainable development and promoting economic growth. The benefits it offers to Latin America and the Caribbean (LAC) are manifold, including market expansion opportunities, access to European expertise and investment, and the promotion of sustainable development and social impact. Moreover, the program facilitates cross-cultural exchange and collaboration, opening up new avenues for growth and progress.
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