Wayra, Telefnica's global start-up accelerator, is offering 130 young people paid internships at its Wayra academies in London, Munich, Dublin, Madrid, Barcelona and Prague.
Opportunities will range from working in operations or joining the team of a Wayra supported start-up. Interns will also have opportunities with Wayra alumni at their enterprises.
Simon Devonshire, director of Wayra Europe, said: "We are witnessing the birth of a new economy - the digital economy - which I believe is more significant than the birth of the industrial revolution.
"This initiative provides students with a real opportunity to get personally involved in this revolution, and gain invaluable experience in working with the pioneers of this new age."
The internships announcement follows Telefnica's recent commitment to help develop entrepreneurship among young people across Europe. Within its 2015 targets Telefnica pledged to build a Telefnica Think Big community of more than 300,000 young people to help work towards a more entrepreneurial Europe.
It also committed to enrolling 50,000 students in a Think Big School, teaching digital literacy such as coding and robotics, and to transition 5,000 young people and graduates from education into the workplace via its Talentum programme.
The interns will be recruited via the online intern recruitment portal for start-ups Enternships.
Last December Wayra made a new call for funding applications via its London academy.