Japan’s NTT DoCoMo is setting up a 10-billion-yen (about $109 million) venture fund to invest in new businesses making apps and services for smartphones and tablets. Under the scheme, DoCoMo will launch an incubation program to support startups and venture companies, and invest in Silicon Valley-based 500 Startups II.
Companies in this market are being invited to apply for the incubation program before March 11. If selected, they will be provided with various resources and know-how, including up to $23,000 seed funding in convertible notes, use of office space, other infrastructure conducive to business development, and mentoring on management and development. Moreover, even more support will be offered to those developing promising services and/or technologies that DoCoMo could use (offer to its clients).
Pretty cool how today’s carriers are looking beyond their traditional markets for ideas. They don’t want to turn to dump-pipes after all…