Telecommunications firms Deutsche Telekom, Orange, Singapore Telecommunications and Telefónica officially launched accelerator program Go Ignite at industry event Mobile World Congress last week.
The corporates are backing the initiative, formed in September 2015, through their respective units Hubraum, Orange Fab, Singtel Innov8 and Telefónica Open Future.
Go Ignite will invest in Asia, Africa, Europe, Latin America and the Middle East, and is initially targeting startups operating in the internet of things, cybersecurity, big data analytics, content delivery and consumer experience sectors.
The four partners will select up to five companies to take part and will provide them with access to resources and help with business development, commercialisation and entering foreign markets.
Resources will include introduction to partners, co-working spaces, coaching, mentoring and invitations to relevant events. Startups may also secure funding, though further details have not been disclosed.
Min-Kin Mak, vice-president of Hubraum, said: “Go Ignite was created by partners all fully committed to cooperate with startup companies. Each of the involved carriers has built respective programs to work with startups and to leverage corporate assets for many years.
“Now, linking all these initiatives under the Go Ignite program brings a complete new level of support to startups. This is a clear win-win situation as Go Ignite is eager to attract and to work with the most promising and category leading startup companies.”