Econocom, a European business-to-business digital service provider, announced today its partnership with venture capital fund Partech Ventures to promote innovative new companies in the digital sector
Econocom Group has invested in Partech Entrepreneur, Partech Ventures’ first business angel fund. With €30 million, this fund will finance startups in the digital sector with high development potential.
This partnership is in line with the new “Mutation” strategic plan which aims to establish Econocom as the European pioneer in integrating innovative digital solutions.
By contributing €1 million to the venture, Econocom confirms its commitment to innovation as one of its key development drivers. In addition to this investment, Econocom is also involved in an M&A project for identifying the digital leaders of tomorrow. This entails monitoring and anticipating digital trends in order to step up the integration of digital technologies into companies’ strategies.
“The partnership with ‘Partech Entrepreneur’ consolidates Econocom’s position as one of the leading companies devising the new digital solutions companies need,” said Jean-Louis Bouchard, Chairman of Econocom Group.
“Based on the Silicon Valley model, Partech’s initiative is very original in continental Europe. It appealed to us as it matches our group’s entrepreneurial spirit. In addition to identifying new digital talents, it will also give them the best possible support right from the inception of their project. We have already launched a number of initiatives in this field, such as setting up a European smart solutions R&D programme with research institute ISMB (Istituto Superiore Mario Boella), sponsoring StartUp42, a startup accelerator launched by engineering school EPITA, and, more recently, joining the Open Innovation Club run by Paris Région Lab”, explained Jean-Louis Bouchard.
Romain Lavault, Partech’s General Partner in charge of the fund, added: “Econocom is the only digital solutions provider of all the major groups who have joined the fund. Their international presence and range of skills are major assets and will be valuable for identifying the digital requirements of tomorrow’s companies, analysing the related projects along with Partech’s teams, and for possible collaborations between Econocom and the young entrepreneurs in order to produce the most promising innovations.”