Everyone these days seems to be getting into the startup accelerator business. Why not an international mobile phone giant?
Why not, indeed. Vodafone is the latest institution to open a Silicon Valley accelerator with the aim of sparking innovation, and, according to a press release, providing “potential financial assistance.”
In an interview, Fay Arjomandi, a head of U.S. R&D, played down the equity side of the center. “We may choose to invest,” she said, referring to Vodafone’s venture capital arm.
The real target of the Vodafone Xone is to offer a fast track for new products to conduct user trials in as little as nine months. The idea is to “identify and qualify innovative technologies from startups, R&D labs, universities and venture capital portfolios,” according to the release.