Telecom Italia has launched Working Capital Accelerator, an initiative that focuses on backing web-based start ups.
The project is part of Working Capital, which aims to support entrepreneurs who develops new technology-driven business ventures.
Telecom Italia, which will initially commit €2.5m a year for the next three years (2012-2014), also plans to attract new public and private partners in order to increase the total amount designed to fund new start ups.
It will provide companies with funding and a team of mentors and advisors, who will help them accelerate their go-to-market and growth processes. The initiative also intends to favor the creation of partnerships and networks for start up development and internationalization, even through the collaboration with The Kauffman Fellows Program.