NOS has announced the launch of a € 10 million venture capital fund to foster research and development for fifth generation mobile networks. The NOS Fund aims to invest in technology startups that develop 5G-based or enhanced solutions. At issue are areas ranging from virtual reality to smart cities, as well as autonomous driving, Internet of Things (IoT) and Big Data.
According to the telecommunications operator, the NOS 5G fund is expected to start operating as early as 2019, covering an investment period of about five years. NOS wants to invest in the national community of entrepreneurs, especially in technological projects in the early stages of development.
“Early stage companies operating in our country will be challenged to come up with new ideas and new projects that exploit the full potential of 5G,” said Miguel Almeida, CEO of NOS, quoted in a press release. The goal will be, "through investment and co-investment" put the innovations developed by "at the service of people, companies and society", explains the responsible.
According to the operator, the management of the NOS 5G Fund will be the responsibility of an independent fund manager. Although it does not indicate the name of the entity that will be responsible for its management, the company states that it demonstrates experience in “selecting and managing investments in technology-based startups”.