A team from Tsinghua Holdings recently paid a visit to the headquarters of Spain's largest multinational, Telefónica, in Madrid to promote cooperation between the two companies on innovation and entrepreneurship.

The team discussed potential avenues for deeper cooperation with their Spanish hosts, particularly between Tsinghua Holdings' Star-Clustering Plan to nurture more than 500 world-class start-ups over the next five years and the Telefónica Open Future program.

A team from Tsinghua Holdings poses for a photo with their counterparts from Telefónica at the Spanish company's headquarters in Madrid. There are hopes the visit could lead to deeper cooperation between the two sides.

Accompanied by Agustín Moro, global head of business development and global strategic partnerships Telefónica Open Future, the team also visited Telefónica's start-up accelerator Wayra.

Launched in 2011, Wayra now runs 14 academies across Europe and Latin America. It is hoped as the cooperation between Tsinghua Holdings and Telefónica deepens further, Wayra may share its resources with the networks of incubators run by Tsinghua Holdings' subsidiaries.

The team also dropped in on the Joint Venture Space established by Tsinghua Holdings' affiliate Tsinghua Technology & Innovation (THTI), China Unicom and Telefónica Open Future in Madrid.

THTI, China Unicom and Telefónica first agreed to work together to create a global innovation platform in June 2014, and since then have been pooling their resources in pursuit of this goal. The three companies jointly launch their second global project solicitation at the 4YFN event at the Mobile World Congress in Barcelona on March 1.