NTT Docomo, a Japan-based mobile phone operator, has set up a Y10bn ($109m) corporate venturing fund and a related operating company for smartphones and tablets-focused start-ups.
Docomo will also launch an incubation program to support start-ups and invest in 500 Startups II, an incubation fund established by US-based seed fund and start-up accelerator 500 Startups.
Companies developing mobile-related services that have the potential to become global standards can apply for the incubation program until March 11.
Incubees will be provided with up to Y2m seed funding in convertible notes, use of office space, other infrastructure and mentoring on management and development. Docomo and 500 Startups will jointly help participants tap into markets in North America and other regions. 500 Startups will organize short study programs in Silicon Valley, California.
Docomo said it wanted to strengthen co-operation with venture companies through corporate venturing investments, primarily in Japan, to help upgrade services and technologies for smart devices in existing fields of business.
It also will accelerate development of business models, services and technologies in eight new strategic fields: media/content, finance/payments, commerce, medical/healthcare, machine-to-machine (M2M), aggregation/platforms, environment/ecology and security/safety.