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Default PICK UP FIRST CHARACTER OF WORD

In one column name of the companies are appearing but the lenght or number of
words in the name of company is unlimited. I would like to pick up first
character of each word (first character after the space). e.g. if number of
words in the name can consist of 25 words, in that case 25 first character
should be picked.

How to do that .... pl. help.
 
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