Telekom Srbija has received all approvals for the establishment of the largest venture fund in Serbia to help startup ideas, and Telekom CEO Vladimir Lucic says the company will invest EUR 25 million in the fund over the next five years. He also stated that the fund is conceived as a special company that will be run by professional management, which they are currently looking for in America and Israel, in the countries that are most recognisable for the development of startup ideas.
In addition to professional management, it is planned to form a supervisory board, in order to choose in the most transparent and better way which startups have a future and in which to invest. In the initial phase, the fund will finance startup ideas with 50,000 to 100,000 euros.
Venture funds, which can be privately or state-owned or combined, assess whether a company with a good business idea has the chance, innovative and entrepreneurial potential and business prospects to develop, grow and become competitive, and thus bring high rates of return on investment capital. If the assessment is positive, the fund invests in the company for which it acquires a share, ie shares, and thus ownership and management rights and revenues on that basis.
