Orange has earmarked €20 million for an investment programme called Orange Digital Ventures which will fund start-ups “working on the new and next transformations of the telecoms and digital sectors” in all regions where the mobile operator is currently present.
The venture aims to take capital investments via minority holdings. It wants to focus on start-ups in the fields of communication, connectivity, the cloud, payment, the Internet of Things and big data, e-health and security services who are developing innovative solutions and technologies as well as inventing new business models.
Companies across Europe, the Middle East and Africa could benefit from the Digital Ventures programme.
“Orange intends to leverage its already active role in the global digital ecosystem, and through these new investments get closer to companies that are agile at grasping and acting on technology shifts vital to the creation of tomorrow’s digital services,” the company said in a statement.
It added that its goal is to “transform talented entrepreneurs into key players in their chosen markets and in so doing, benefit Orange and its customers.” Orange believes “this new approach will reinforce existing Orange open innovation initiatives, like Orange Fab, while also allowing the support of new companies in their ramp-up phases.”