Orange announces $56m African startup investment initiative

Orange global telecommunications firm has announced her commitment of EUR50 million (US$56 million) to  her Africa-focused arm of Orange Digital Ventures, a early-stage investment program.

In 2015, the firm launched Orange Digital Ventures to identify, fund and provide strategic support to early-stage startups worldwide and committed an intial amount of EUR20 million (US$22.4 million) to the entire project.

This new announcemen further showcased the company’s interest  and aims to support African startups that offer responses to the challenges within Africa . Orange Digital Ventures Africa wil focus on startups with activities based on internet of things (IoT), Fintech, Energy, E-Health and other new areas of connectivities.

A dedicated team will also be set up in Dakar, Senegal in September.

Interested startups can submit applications here.

[Excerpts from Disrupt Africa]

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