Telekom Serbia presented the first investment of its TS Ventures Fund, intended for financing startups – the money will go to the Serbian startup OTA Sync, which has developed a programme for automatic management of the accommodation and hospitality booking process for small and medium-sized hotels and apartments.
TS Ventures is the first fund of its kind in this part of Europe, and Telekom will finance its activities over the next five years with 5 million euros per year in order to improve the digital industry in Serbia.
“This is a great day for Telekom, but also for Serbia, because, for us, financing new digital projects is one of the strategic activities that will generate us a significant part of revenues in the future,” said the company’s CEO, Vladimir Lucic.
“I am absolutely convinced that during the five years of the Fund’s operations, during which we will invest 25 million euros, we will come up with ideas and applications that we will be proud of in the future and that the world will know that these ideas and applications came from Serbia. The digital world and the fourth industrial revolution offer great opportunities, the range of new products is expanding, not only in the digital applications segment, but also in the artificial intelligence segment, with various sensors that will work with 5G technology, so it is important that are ready to embrace the Fourth Industrial Revolution, not only as Telekom, but also as Serbia,” Lucic underlined.
He also invited young people who have ideas and projects that pertain to information technology to send them to the TS Venture Fund to see if they can be supported financially. OTA Sync startup will receive 250,000 euros for the development of its project, of which 100,000 euros will be invested by the Fund, 125,000 euros by Digital Serbia and its partners, and nearly 25,000 euros will be provided by the Estonian organization Startup Wise Guys.
This post is also available in: Italiano