NTT DoCoMo just announced that it has invested USD 109 Million in creating their own venture fund which will be focusing new businesses in smartphones and tablets. An undisclosed amount of this fund will be invested in 500 Startups, a Mountain View based startup accelerator.
The DoCoMo incubator program which is currently extended to 11 March 2013 deadline. Successful applications will be getting USD 23,000 in seed fund. On top of that, they will be able to use allocated office spaces and access to top mentors and advisors.
DoCoMo and 500 Startups both jointly help the incubatees of this program to tap into the North America market and other regions. Under this program, 500 Startups will be responsible for organize short study programs in Silicon Valley and introduce experts in various fields to provide guidance and mentoring under the incubation program.
NTT DoCoMo is the leading Telco provider in Japan but it has been falling behind innovation in smart phones and tablet such as the Iphone and Android.
500 Startups which is started by angel investor Dave McClure have been expanding their reach globally. They have previously invested in startups around asia such as PicCollage (Taipei), Cubie (Taiwan) and Cinemacraft (Tokyo). 500 also recently announced they are setting up shop in China.
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