Telecom Italia announces 4,5 M€ Seed Investments in digital startups in 3 years

Telecom Italia launches its Corporate Venture Capital program through 4,5 million euros seed investments over the next three years (2014-2016) in options or in the share capital of the most innovative digital, Internet and green ICT startups. According to the press release, the investments will size between 100,000 and 500,000 euros, and will be intended “to fund the launch of appropriately selected young technology companies, helping them grow and gain a foothold in the market”. Marco Patuano, CEO of Telecom Italia, says: “With this major new initiative, Telecom Italia is continuing to make the most of young digital talent and…

Telecom Italia announces 4,5 M€ Seed Investments in digital startups in 3 years

Telecom Italia

Telecom Italia launches its Corporate Venture Capital program through 4,5 million euros seed investments over the next three years (2014-2016) in options or in the share capital of the most innovative digital, Internet and green ICT startups.

According to the press release, the investments will size between 100,000 and 500,000 euros, and will be intended “to fund the launch of appropriately selected young technology companies, helping them grow and gain a foothold in the market”.

Marco Patuano, CEO of Telecom Italia, says: “With this major new initiative, Telecom Italia is continuing to make the most of young digital talent and complementing its Open Innovation strategy by creating its own Corporate Venture Capital instrument. As the first company in Italy to have launched a programme in support of start-up five years ago, with the Working Capital project, Telecom Italia is strengthening its specific commitment to building a digital ecosystem that will encourage the best and most innovative entrepreneurial ideas, despite the current economic downturn”.

The initiative is a further boost aimed at supporting and developing the digital enterprise ecosystem that Working Capital has been promoting since 2009. In 2014 the project introduces new key points: 4 corporate accelerators, 40 grants linked to acceleration programs and a crowdfunding platform for financial support to the innovative ideas.

Seed Investment is an additional tool to the ones implemented by Working Capital in 2013, as the “fast-track registration process“, allowing selected startups to become Telecom Italia Group suppliers, and the “Innovation Basket”, a budget of 1 million euros to cover part of the cost of the services commissioned by Telecom Italia Business Units from Wcap startups, in order to accomplish the Open Innovation mission for the Group.

The post Telecom Italia announces 4,5 M€ Seed Investments in digital startups in 3 years appeared first on Working Capital Accelerator.

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Telecom Italia announces 4,5 M€ Seed Investments in digital startups in 3 years

Telecom Italia announces 4,5 M€ Seed Investments in digital startups in 3 years

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