Innovation: Orange Digital Ventures partners with Google to finance startups
The venture capital fund of the French telecommunications group Orange is now a partner of the American Internet giant Google. Indeed, the two entities have signed a partnership that will allow them to join their efforts as part of a co-financing of the best startups in Africa, Europe and the Middle East.
According to a statement jointly published by Orange and Google, “The management team of ODV and Google will jointly evaluate start-ups from the ecosystems in which Orange is present: new connectivities, IoT, cybersecurity, cloud, fintech, as well as new business models in the Middle East and Africa region “.
We also learn from Orange that this cooperation around financing will be extended by regular coordination points between the management teams of two groups in order to examine the opportunities for collaboration around its start-ups and accelerate the dynamics of Orange open innovation. ‘ For Orange, this association will allow it to strengthen the “Smart Money” dimension of Orange Digital Ventures by offering much more than just financing to the entrepreneurs we support, “explains Stéphane Richard, CEO of Orange.
In the same vein, Carlo d’Asaro Biondo, President EMEA of Google Partnerships says: “We are delighted to support Orange’s ecosystem of start-ups and innovation and to explore with them the opportunities of developing -investment in Europe, Africa and the Middle East (EMEA). Orange’s ecosystem is consistent with Google’s know-how and our ability to accelerate the growth of start-ups. This partnership is a way to increase our collective contribution to innovation in this region. ”
Written by TIC Mag