Early-stage startup funding from Sony
Sony Group Corporation has announced the establishment of the Sony Innovation Fund: Africa to provide much-needed capital for early-stage startups in the entertainment industry on the continent. The company is targeting innovative start-ups in industries such as film, television, music, video gaming, animation and visual effects. The funding is primarily for startups that fall within the EntertainmentTech sphere, for example, AltReality, a South African company that provides technology and solutions for creating VR entertainment experiences, gaming and interactive storytelling. And then there is Carry1st, a startup that specialises in developing mobile gaming applications as another example.
Sony Partnership with International Finance Corporation
A total of $10 million is set aside for the fund and through its partnership with the International Finance Corporation, a World Bank subsidiary, it will also provide EntertainmentTech startups with access to expertise and resources that can help them scale their businesses. The Sony Innovation Fund: Africa will be managed by Sony Pictures Entertainment and this business unit will provide startups with access to its expertise and resources, including its network of executives, producers, and distributors.
The Sony Innovation Fund: Africa is open to startups that are headquartered in Africa or that have a significant presence in Africa. This funding makes the tech industry in Africa all the more vibrant and very exciting.
Other Funding Opportunities
We are always on a lookout for funding opportunities for small businesses and startups, click here to see more.
