The Paris-based Orange telecom
is strengthening corporate venture strategy by creating a new Africa section in
its flagship programme for investment in start-ups, Orange Digital Ventures, reports ITRealms.
This is coming on the heels of a renewed commitment with the
sum of 50 million euros devoted to indirect investments through specialised
funding for Africa.
Confirming this to ITRealms,
the Deputy Chief Executive Officer of Orange and Chairman of Orange Digital
Ventures, Pierre Louette, noted that the latest investment corresponds to half
of the direct investments made via its new Orange Digital Ventures Africa
programme.
Louette also explained that the other half has been devoted
to indirect investments through specialised funding for Africa.
The DCEO pointed out that Orange Digital Ventures Africa is
the group’s investment vehicle for early-stage innovation projects in Africa in
areas such as new connectivities, Financial Technology, the Internet of Things,
energy and e-health to name but a few.
“The objective is to target start-ups offering responses to
Africa’s fundamental challenges while leveraging the operator’s assets on the
continent. This support will concern all innovative start-ups, whether they are
based geographically in Africa or they address African issues from another
continent,” Louette said.
Chuks Egbune/GEE
No comments:
Post a Comment