A European consortium has launched a €6.4m ($8.6m) corporate-backed accelerator called Impact, which will fund mobile internet projects.
The consortium comprises mobile app developer Buongiorno, which is investing through its accelerator B-Ventures, consulting firm Teknologiudviking, Spain-based business school ISDI and venture capital firm Seaya Capital.
Impact will seek to invest in startups developing apps for the communications, social, video, media and advertising, design, education, entertainment, ecommerce, peripheral device, content, connected TV, infrastructure, security, productivity, finance, smart cities and social network sectors.
Eligible startups will need to either have a working prototype valued at less than €1m ($1.3m) and at least two founders working full-time, or they must be present in the market for less than seven years and have a turnover of less than €2m ($2.7m) with the founders retaining more than half of the equity.