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25 Oct 2012

Wayra takes top prize at the 2012 Corporate Entrepreneur Awards

Wayra was awarded best example of building an entrepreneurial culture at the 2012 Corporate Entrepreneur Awards hosted by Market Gravity and Wired Magazine.

More than 200 business leaders and entrepreneurs gathered at the Design Museum in London to celebrate the people who are shifting the business landscape and delivering breakthrough growth in big businesses through innovative ventures, reinventions and forward-thinking culture.

Wayra not only works with entrepreneurs, it operates entrepreneurially - this combination has undoubtedly had a positive impact on the spirit of entrepreneurialism in the culture of the core Telefonica Company - which is why this Award is so important.
Simon Devonshire from Wayra said, "We're thrilled and hugely proud that Wayra (which is a very small business) has received this award for the positive effect it has had on the culture of Telefonica, which is a very big business. We have worked so hard to launch Wayra in so many countries, so quickly - now supporting more than 170 amazing start-ups."

Judges were impressed with the results Wayra have achieved. Alistair Lukies, CEO, Monitise commented “I applaud the strength of character taking the tough decision to transform the business, and to have done it so successfully.”

The winners exuded innovative thinking in their approaches, along with the resilience and agility needed to make new things happen – a facet of innovation echoed by guest speak Mike Phillips, head of motorsport at McLaren Applied Technologies. Phillips shared how the remarkably short innovation cycle – 72 days from concept to launch – in Formula One keeps the company on its toes. “The margin between success and failure is never so clear, so raw, and so public [as in Formula 1],” Phillips said. His advice to the audience was to stop planning, use data, and make decisions and take risks.

Phil Clarke, partner at Market Gravity, commented: “We were really impressed with the high quality of all the nominations we received this year – it’s incredible to see the calibre of innovation happening across Europe. Market Gravity was founded and exists to help corporate entrepreneurs in their game-changing business efforts, so it’s exciting to be able to honour their work. It takes an entrepreneurial mindset and real determination to grow new businesses from within, and success provides jobs and prosperity in Europe and beyond. We applaud all the winners and look forward to seeing what’s next for all our nominees.”

About the Corporate Entrepreneur Awards
In its third year, the Corporate Entrepreneur Awards recognise and celebrate the achievements of individuals and teams who are working hard within large companies to deliver game changing innovation and growth. Winners were recognised in four categories: best new corporate venture; best reinvention of an existing product or service line; best example of building an entrepreneurial culture; and a new award for 2012, the Wired People’s Choice Award, voted by attendees at the event. More than 30 brands submitted nominations across the categories.