Orange has launched its accelerator programme in Spain as it looks to strengthen its presence in the country under its Essentials 2020 strategy.
The three-month Orange Fab programme will provide Spanish startups with mentoring, workspace and access to Orange’s distribution channels. The France-based telco will initially focus on providing support to Internet of Things (IoT) and NFC technologies.
Orange said it hoped Orange Fab Spain could replicate the success of the programme in France, where it has accelerated 105 startups.
Jean-Marc Vignolles, CEO of Orange Spain, said: “We hope that the Orange Fab programme can develop and spread to the whole of Spain with support and collaboration from the government. The Spanish economy is beginning to recover and Orange, which has supported economic growth in Spain for over fifteen years, wishes to continue its commitments to the country.”
Orange is targeting €1 billion in revenues from connected objects and mobile banking over the next three years under its Essentials 2020 strategic plan.
The company hopes to realise some €200 million from new mobile financial services in France and Spain alone, following successful launches in Africa, the Middle East and Poland.
Orange is additionally seeking revenues of €600 million from the M2M/ IoT space.
Meanwhile, Orange said the launch of Orange Fab Spain further strengthened its presence in the country following its acquisition of ADSL player Jazztel.
The operator cemented itself in Spain’s broadband market after acquiring the Spanish company for €3.2 billion in June.
Three of Jazztel’s most senior executives tendered their resignations following the takeover by Orange.