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

 

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>

BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>

Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>


BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Housing: More House Price Gains Expected

House price expectations remain high, with a net 56% of respondents expecting house prices will increase. Fears of higher interest rates are fading, consistent with the RBNZ’s signals this year. Affordability and a lack of houses for ... More>>

TDDA: State-Of-The-Art Drug Testing Laboratory To Open In Auckland

World leading drug testing agencies, The Drug Detection Agency (TDDA) and Omega Laboratories, open New Zealand laboratory More>>

Network: Bigpipe Launches Ultra-Fast Broadband Into Wellington

Bigpipe Launches Ultra-Fast Broadband into Wellington Naked broadband provider Bigpipe has extended its national reach, announcing today, the launch of its unlimited UFB offering into Wellington. The Spark Venture business is giving Wellingtonians the ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news