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Japan's DoCoMo to Pump $109 Million into Mobile Tech Startups
Published on:
Japan's NTT DoCoMo is setting up a 10-billion-yen (US$109 million) venture fund and a related operating company to accelerate development of new businesses for smartphones and tablets.
DoCoMo will also launch an incubation program to support startups and venture companies, and will invest in 500 Startups II, which is based in Silicon Valley, California.
Companies developing mobile-related services that have the potential to become global standards are being invited to apply for the incubation program before March 11.
Startups and venture companies selected for the program will be provided with various resources and know-how, including up to US$23,000 seed funding in convertible notes, use of office space, other infrastructure conducive to business development, and mentoring on management and development.
Additional support will be offered to companies that develop promising services or technologies, including collaboration with DoCoMo services and sales promotion. Equity investments by the newly established venture fund will also be considered.
Tags: [ntt docomo] [Japan] [USA]
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