Shulou(Shulou.com)11/24 Report--

CTOnews.com, October 12 (Xinhua)-- Sony announced the establishment of Sony Innovation Fund: Africa (Sony Innovation Fund: Africa) on October 11 to support the development of entertainment enterprises in Africa.

According to a statement from Tuyuan Sony, the new fund will invest in seed-to-early start-ups in the African entertainment industry, including those in games, music, movies and content distribution. Sony will initially allocate $10 million for such investments (CTOnews.com Note: currently about 73 million yuan).

Since its inception, the Sony Innovation Fund has supported the growth of its portfolio companies by providing opportunities for collaboration, including the provision of Sony-owned technology, joint development and business alliances. Through the Sony Innovation Fund: Africa, Sony will continue to make value-added investments and consider expanding the activity in the light of its progress.

In addition, Sony has signed a cooperation agreement with the International Finance Corporation (IFC), which actively invests in emerging countries, including African start-ups. In addition to financial investment, this cooperation will also make use of the advantages of both sides to support the development of the entertainment industry in Africa.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.