Orange has launched an “early stage” investment program branded Orange Digital Ventures to identify and fund start-ups during their initial development in markets it operates including in Europe and Africa.
Orange Digital Ventures will focus on financing start-ups working on the new and next transformations of the telecoms and digital sectors especially those aimed at improving communication, connectivity, the cloud, payment, the Internet of Things and big data, e-Health and security services.
The firm has earmarked $23 million (20 million Euros) for its first year to invest in startups for minority holdings and help the startups in their global expansion as an investor and catalyst.
Last year, Orange Fab launched in Ivory Coast to facilitate the development of start-ups in the Ivorian economic system. Orange Fab just like Digital Ventures aim to support, internationally, the growth of start-ups.