T-Mobile introduces venture fund to finance 5G innovation
T-Mobile is in a position to aid in 5G explosion with its advanced network and a new funding sources for 5G startups
T-Mobile has announced the creation of T-Mobile Ventures, a new multi-year investment fund to help tech companies develop new 5G products and services for the T-Mobile network.
Companies in the T-Mobile Ventures’ portfolio will not only receive financial backing, but they will also benefit from T-Mobile’s expertise and go-to-market infrastructure.
These primarily early and growth-stage companies will initially develop products and services for the 5G network in areas such as:
“T-Mobile Ventures is part of our mission to give customers the best 5G network in the country – one that will serve all Americans, stimulate competition and create tremendous economic value,” said Jason Young, senior vice president of partnerships and T-Mobile Ventures.
“With our 5G network at the foundation, we see massive opportunity across both business and consumer segments, and we’re excited to help fuel the wave of 5G applications coming to market in the years ahead.”
T-Mobile is helping drive innovation in other ways too, including T-Mobile Accelerator, a program that works directly with selected startups to mentor and assist their innovation. It’s also a co-founder of the 5G Open Innovation Lab, a “base for the community to research, prototype and test new technologies, applications, and use cases based on 5G network capabilities.”
The announcement of T-Mobile Ventures continues a busy year for the mobile communications company. In late September, it announced new rate plans for small businesses that include Microsoft 365.
T-Mobile also announced this week it would donate $10,000 per home run during the World Series to help cover Little League World Series registration fees.
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