Mobile telecommunications company Vodafone plans to establish a NZ$50m (US$42.2m) startup incubator in Christchurch, New Zealand and a new startup hub in the UK as it prepares to close its Silicon Valley research facility.
The UK-based firm will set up the Christchurch branch of its incubator group, xone, in a purpose-built headquarters that is set to be ready in 2016, according to ComputerWorld New Zealand. The New Zealand xone will host between 10 and 20 startups that will gain technical expertise, and Vodafone’s facilities and logistical support.
Vodafone, which oversees xones in Cairo, Dusseldorf and Milan, also announced plans on Tuesday to move the hub for the xone initiative from Silicon Valley, California to London.
The company will accordingly expand the xone technology and marketing teams in London, and has appointed Pratapa Bernard, formerly the head of Vodafone solutions for emerging markets, as the new head of xone.
Despite the xone hub moving across the Atlantic, Vodafone’s corporate venturing unit, Vodafone Ventures, and its business unit, Vodafone Global Enterprise, will retain their headquarters in Silicon Valley, the company stated.