Nokia recently announced plans to become an anchor investor in the Vision+ fund, which will focus on converged gaming, entertainment and education, as well as preventive health care and wellness applications for various platforms. Nokia said its move to fund Vision+ is part of an ongoing strategy to funds apps and games for those mobile platforms that Nokia supports, but mostly for the Windows Phone platform.
Vision+ plans to help those application developers it funds by connecting them directly with customers in an effort to bring the developers' projects to market more quickly. The fund also appears to plan to share in the products' eventual revenue streams while the startups it funds will hang onto their own IP.
"This initiative is a great addition to our developer activities, including those with Microsoft. We look forward to more and more innovative applications from creative entrepreneurs in the mobile space,” Marco Argenti, Senior Vice President, Developer Experience, Nokia stated in a release.
Tero Ojanpera, formerly of Nokia, will helm Vision+ as the fund's managing partner.
For more on Nokia's fund, read the press release below:
PRESS RELEASE: 8/31/2011 -- Nokia to collaborate with Vision+ fund to foster application development for its ecosystem
Vision+ a new fund devoted to investing in innovative products
Nokia announced today plans to collaborate with Vision+, an independently-run investment fund, focused on financing innovative products. Vision+ introduces a new funding model for venture investments where investments are made into product development projects with a clear target for market entry and commercialization. Nokia also plans to be an anchor investor in Vision+.
Nokia’s investment in the new fund is part of an ongoing strategy to broaden application and games development for Nokia’s ecosystem. Vision+ funded applications and games development projects for Nokia supported platforms, especially for Windows Phone platform, are targeted for receiving marketing and other commercial support activities from Nokia to support their market entry.
The fund’s focus is to take a unique approach in match-making application development projects directly with customers, resulting in new innovations coming onto the market more quickly. In addition, product developers will create and preserve their own intellectual property, helping them to grow the value of their companies, while Vision+ will share product revenues. Vision+ is to fund applications and games for various platforms especially focused on Converged Gaming, Entertainment & Education and Preventive Health Care and Wellness. As Vision+ moves forward, it will look into expanding across other industries, exploring visionary product concepts in clean water and energy.
“We’re excited to work with Vision+ and foster innovation for the mobile developer ecosystem where we believe that the next big opportunity will be local application development. The Nokia developer program provides strong support for local developers and it aims to have the most local application portfolio. Thus this initiative is a great addition to our developer activities, including those with Microsoft. We look forward to more and more innovative applications from creative entrepreneurs in the mobile space,” says Marco Argenti, Senior Vice President, Developer Experience, Nokia
“My new role at Vision+ will give me a fantastic opportunity to leverage my strong industry relationships and versatile experience built up within Nokia and the surrounding mobile ecosystem. Vision+ will be able to provide support to developers and entrepreneurs when they plan to introduce the best visions and product concepts into global and local markets. I look forward working together with these companies targeting to monetize their great ideas,” says Tero Ojanperä, Managing Partner, Vision+.
