Sony Group has established a US$10 million innovation fund to invest in African entertainment startups. Since 2016, Sony has run a variety of funds, including the Sony Innovation Fund (2016), the Innovation Growth Fund (2019), and the Sony Innovation Fund: Environment (2020). Its latest initiative, the Sony Innovation Fund: Africa, aims to support the growth of the entertainment businesses in Africa. It will invest in seed to early-stage startups in the entertainment industry in Africa, including startups in the gaming, music, movie and content distribution sectors. “Sony Group has been fostering next-generation technologies and startups and promoting open innovation through its corporate venture capital activities to date.

Source: The North Africa Journal October 16, 2023 06:10 UTC