Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


New Digital Ventures initiative launched by Telecom

MEDIA RELEASE


8 April 2012


New Digital Ventures initiative launched by Telecom


Telecom announced today the formation of a new Digital Ventures team to focus on high potential growth opportunities in a controlled ‘incubator’ type setting. The initiative is part of Telecom’s reshaping of the business around the realities of fast changing industry and consumer dynamics.

The Telecom Digital Ventures team will be focused on developing and growing new businesses and services to add value to existing offerings, build new revenue streams and generate commercial returns from them.

Simon Moutter, Chief Executive of Telecom, said, “As we have previously announced, Telecom is making a strategic shift to a future oriented, competitive provider of communications, entertainment and IT services over our networks and the Cloud. It won’t be enough for us to become just cost competitive, we also need to identify future revenue generating opportunities that are arising in a rapidly changing world. Telecom Digital Ventures is an important step along the way.”

Telecom Digital Ventures will be headed up by Rod Snodgrass, who has been Chief Product Officer at Telecom for the last two years. Rod’s responsibilities with existing products have been devolved into other parts of the organisation.

Telecom Digital Ventures is structured to be relatively small scale, agile, highly innovative and with a greater propensity for partnering and forming alliances to address new markets and opportunities and build new businesses and services. This will allow potential new businesses and products to be tested and developed with modest levels of investment and risk. In keeping with the incubator-style philosophy, as successful new activities developed in the Digital Ventures team grow and mature they will most likely rejoin Telecom’s core business units or may become businesses in their own right.

Rod Snodgrass said, “In recent years there has been explosive growth in consumer demand for data and information and entertainment services, anywhere, anytime. And these data and mobility mega trends are only going to continue as a digital life becomes a reality. While these trends carry challenges, they also point towards potential and emerging business growth opportunities.

“While we are still in the early stages of developing the Telecom Digital Venture plan of attack it is already clear where we need to focus. These include some product initiatives we have underway, such as Financial Services including our existing NFC and m-Wallet initiatives, Big Data and Advertising, OTT Services including Entertainment and Home Management as examples, e-verticals such as e-health and e-learning and applications development.”


- ENDS –

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Balance Of Trade: NZ Posts Trade Deficit In October On Falling Dairy Exports

New Zealand’s posted its largest monthly trade deficit for October in six years, while narrowing the shortfall from September, led by a fall in dairy exports to China while all main imports into the country rose. More>>

ALSO:

Gigatown Winner: Plenty Of Positives For Dunedin

Although the city has taken the Gigatown title, along with new ultrafast 1Gbps broadband and funding for $700,000 worth of UFB-related initiatives across the community, Mr Cull says Dunedin has gained so much more through its involvement. More>>

ALSO:

R18: The Warehouse Group Praised For Removing Games

The decision by New Zealand’s largest retailer The Warehouse Group (TW Group), to withdraw stocks of the latest version of Grand Theft Auto V (GTA V) and other R18 games, has been praised by advocacy group Stop Demand Foundation. More>>

ALSO:

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news