UK-based telecom service provider Vodafone is setting up a new US facility which will be aimed at allowing university projects, corporate research and development departments and start-ups to carry out tests on its replica network.
The new facility, dubbed Vodafone Xone, will provide participants with business development advice, office space as well as technical consultancy. It will also identify and reward deserved candidates through Vodafone Ventures - the company’s finance arm.
A spokesperson from the company reportedly told technology website Information Age that Vodafone Xone will equip Silicon Valley start-ups with all the facility so they can enter the highly competitive European market. For this, the telecom giant is also offering its assistance in enabling participants to test their products on 3G networks.
“The spokesperson added that Vodafone Ventures may take an equity stake in those companies that use its office space "to help steer things a long a little," although Xone is not itself part of the venture division,” according to Information Age report.
Vodafone has pouring a hefty amount of funds and resources into the new initiative. What remains to be seen is whether or not it serves the company any good in the long run.