Telefónica, a leading global telecoms company, is joining forces with the innovation incubator VLX Ventures to make potential investments in Israeli start-up companies. The collaboration will focus on a range of fields reflecting the modern global telecommunications landscape such as video, cloud computing, big data, the internet of things, smart homes, wearable technology and future communications, offering companies in these areas investment capital and also the potential to scale their products to over 300 million Telefónica customers around the globe.
The proposed investments will take place under the auspices of VLX Ventures, with Telefónica participating in the investment rounds in synergy with its own activities. For Telefónica the planned collaboration is part of its Open Future programme - the global open innovation platform that integrates all of Telefónica Group’s investment vehicles and initiatives in support of entrepreneurship and innovation such as Wayra, Amérigo or Campus Party
The innovation incubator VLX Ventures, led by Ori Choshen, is one of the leading incubators in Israel.  “Joining forces with Telefónica is strategic for Israeli start-ups which supplies them with all the support that a leading innovation incubator can provide, combined with a partnership with a leading strategic global company,” says Ori Choshen, CEO of VLX Ventures, “Our goal is to put together several joint investments every year and to continue to expand our collaboration from year to year. Collaborating with a significant player such as Telefónica provides young companies with the opportunity, from the early development stages, for professional cooperation with Telefónica. In addition, they get a potential giant client for the solutions they are developing, together with a strategic partner that can invest in their promotion and development.”
“As a digital telco Telefónica invests in many forward-thinking companies around the globe and as a country packed full of world-leading talent and innovative companies Israel is the perfect place for us to increase our investment potential” says Doron Shpasser Head of Investments and Partnerships at Telefónica in Israel. He added, “we are constantly evaluating advanced technologies, and this partnership with VLX Ventures allows us to strengthen potential collaborations with young Israeli technology companies operating in areas that are of interest to Telefonica.”
Telefónica has had a presence in Israel since 2010 and a team focused primarily on R&D for all of Telefónica’s “future communication” products. Since then, Telefónica has also intensified its local partnership activity in Israel.
In July 2013, Telefónica joined Israel's Office of the Chief Scientist (OCS) in a Ministry of Industry, Trade and Labor Global Enterprise R&D Cooperation Framework.  Under the framework, the OCS provides a one-stop-shop to enable new opportunities for collaboration between Telefónica and Israeli start-up companies.
  About Telefónica
Telefónica   is one of the largest telecommunications companies in the world in terms of market capitalisation and number of customers. With its best in class mobile, fixed and broadband networks, and innovative portfolio of digital solutions, Telefónica is transforming itself into a ‘Digital Telco’, a company that will be even better placed to meet the needs of its customers and capture new revenue growth.
The company has a significant presence in 24 countries and a customer base that amounts more than 316 million accesses around the world. Telefónica has a strong presence in Spain, Europe and Latin America, where the company focuses an important part of its growth strategy. Telefónica is a 100% listed company, with more than 1.5 million direct shareholders. Its share capital currently comprises 4.551.024.586 ordinary shares traded on the Spanish Stock Market (Madrid, Barcelona, Bilbao and Valencia) and on those in London, New York, Lima, and Buenos Aires.
About VLX Ventures
VLX (Van Leer Xenia) Ventures was formed through the merger of the early-stage activities of  two leading Israeli investment centers, Xenia Venture Capital and Van Leer Ventures. Ventures fostered by these companies have raised hundreds of millions of NIS in continued investments. VLX operates a technology incubator in Jerusalem, and is engaged in the initiation and build-up of innovative start-up companies in Israel. The firm specializes in the fields of Information Technology and Medical Devices, as well as the combination between them. The VLX Ventures team is highly experienced and supplies innovators with mentorship and professional guidance, as well as financing.