Telkom fund to grow digital seedlings
Telkom has plans to establish a technology fund to invest in digital startups. The fund is part of new digital plans that the fixedline operator has introduced in an effort to seek out new revenue to offset falling income from its core fixed-line voice business.
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Telkom already funds innovative ideas through its FutureMakers programme, which provides seed capital to technology entrepreneurs to help them take their business ideas to the market. FutureMakers also works with incubation hubs.
CEO Sipho Maseko says Telkom's creation of a technology fund is still in the planning stages. He says the company will look at partnerships with other companies to "invest in startup businesses that fit with our [digital] plan".
Telkom's existing digital strategy will also yield growth for the company. Included in its plans is the use of its subsidiary Business Connexion to provide enterprise customers with telecommunications and technology products and services, such as the Internet of Things, and big data analytics.
As Telkom ramps up its fibre-to-the-home investments, residential and other individual clients will also be able to access digital services such as video streaming. Its efforts may make it easier for tech entrepreneurs to secure finance. They also have the option of Niveus Ventures, an initiative launched last month by Niveus Investments.
Source: Financial Mail
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