Orange's digital innovation arm partners with Google to finance startups

By Johan De Mulder

Orange and Google have teamed up to become a major financial backer for promising technology startups in Europe.

Through its 'Digital Ventures' programme, French telco Orange provides corporate funding for some of the brightest business ideas on the market - and now Google has sensed an opportunity to get involved.

The pair will co-operate on investment opportunities across the continent and also in Africa and the Middle East, specialising in the fields of new connectivities, IoT, cybersecurity, cloud, AI and fintech. Management teams from each company will liaise regularly to examine investment opportunities and 'accelerate the dynamics of open innovation' at Orange.

See also:


"We are very proud to announce this partnership which will enable startups supported by Orange Digital Ventures to explore potential co-investment opportunities with Google," said Stéphane Richard, Chairman and CEO of Orange.

"We are delighted to support Orange's ecosystem of startups and innovation and to explore alongside them opportunities for co-investment in Europe, Africa and the Middle East (EMEA)," added Carlo d'Asaro Biondo, EMEA President of Google Partnerships. "Orange's ecosystem is consistent with Google's know-how and our ability to accelerate the growth of startsups. This partnership is a way to enhance our collective contribution to innovation in this region."

According to its website, Orange Digital Ventures promises to commit up to €150mn to a startup within its first year of operations, ranking it among the major venture capital firms in Europe.

Share

Featured Articles

Top 10 largest revenue generating family businesses in MENAT

From the UAE to Turkey, these family firms are the largest by revenue in MENAT and cover everything from energy to entertainment

Top 10 metaverse projects in the UAE, including world firsts

As Accenture predicts the metaverse will fuel a US$1 trilion commerce opportunity by 2025, we round up 10 pioneering metaverse projects in the UAE

PwC’s survey shows Middle East CEOs remain upbeat on growth

CEOs in the Middle East are far more optimistic about regional growth than those in North America and Europe, according to PwC’s annual survey

Opinion: “Why we must tackle the digital skills crisis"

Leadership & Strategy

5 Mins With: Kathryn Kaminsky Vice Chair Trust Solutions PwC

Leadership & Strategy

Survey: The Future of Cloud Security in the Middle East

Technology