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

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news