China Telecom to Encourage In-house Innovation
Sina Tech, 1/30/12
China Telecom (NYSE: CHA; 0728.HK) announced recently that it would start an RMB 100 mln fund to encourage employee entrepreneurship, and would establish an in-house incubator base in its innovation department. The operator has since contacted employees for project and team proposals. Each team will include at least three people, and will have a project term of two years, with a total of RMB 200 mln in funding available. Teams will receive an initial investment of RMB 50,000 to 100,000. Employees opting to start new projects - which will be required to be telecommunications-related, with primary focuses on mobile internet, cloud computing, and e-commerce - will have their previous positions held for them.
China Telecom established its innovation department in 2011 and opened eight vertical service bases at provincial subsidiaries around the country: Chengdu Telecom's E-Surfing Space Mobile App Service Base, Xiamen Telecom's Animation Center, Guangdong Telecom's "I Music" Base, Shanghai Telecom's Video Center, Zhejiang Telecom's Collaborative Communications Base, Wuxi Telecom's M2M (Internet of Things) Base, and Zhejiang Telecom's Literature Base.
Editor's Note: For more background on this topic, please see "China Telecom to Open Mobile Internet Incubator" MD 12/20/11 issue.
Keywords: strategy wireless China Telecom telecom 0728.HK CHA HR
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