Orange has launched Digital Ventures, a funding vehicle for start-ups.
The French telecom provider’s new initiative will identify promising start-ups working in the digital and telecoms sectors in the early stages of their development, providing them with the funding, networks and contacts they need to be successful.
The support will be available to entrepreneurs in any area in which Orange operates. As well as communications and connectivity, Digital Ventures will support start-ups working in the Cloud, payment, the Internet of Things, big data and e-Health.
A dedicated team of digital specialists will use a simplified methodology to select entrepreneurs and ensure they receive funding as soon as possible, with the aim of providing a first response within 30 days.
The programme has €20 million earmarked for its first year, which will be deployed as capital investments via minority holdings.
