Central regions | Finance, business | Telecoms, media

One of Russias biggest telcos backs start-ups

16 Aug '19
MTS, one of Russias main mobile operators, earlier this year launched a corporate venture fund targeting start-ups across Russia and neighboring countries.

In a recent update, telemedicine, Internet of Things, cybersports and other areas were singled out as key funding priorities for the new fund. The fund expects to invest around $15.5m in early-stage start-ups over the next two years.

Last year the corporation launched an in-house accelerator, MTS StartUp Hub, but start-ups may receive funding from the new corporate fund irrespective of whether they participate in that accelerator or not.

MTS aims to support start-ups in Russia and beyond.

Last year, 27 corporations completed 77 investment deals involving start-ups in Russia three times as many as in 2017, according to RVC data.
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Tags: MTS (53) / corporate venture fund (0) / MTS Startup Hub (0) /

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