The Telefónica Venture Capital programme has been set up by Telefónica's Executive Committee to support the company's innovation strategy and has already signed up three pioneering start-ups.

Read the press release here

Three investments made to date include mobile advertising solutions specialist Amobee, user recognition innovator GestureTek, and multimedia social networking specialist Kyte.

Telefónica takes a minority interest in each start up, and once the deal is closed, each start-up is assigned to a Telefónica Business Sponsor who will work closely with the company to ensure that it is getting the support and access that it needs within the Telefónica family of companies.