Telecom Italia has launched its corporate venture capital program.
The TLC giant will invest €4.5m in the next three years. Focus will be on providing seed funding to digital and internet, mobile and green ICT startups in line with its own business.
Telecom Italia aims to make minority investments ranging from €100k and €500k and support the go-to-market stage of select companies.
Telecom Italia already operates Working Capital (WCAP), which runs four accelerators (in Milan, Bologna, Rome and Catania). To date, the initiative has evaluated about 6,000 business ideas, incubated and funded 19 startups, pre-incubated 36 startups, and awarded 109 grants.
WCAP 2014 will also introduce a crowdfunding platform to provide startups with a further supporting tool.