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Bosnia's BH Telecom to invest 15 mln marka (7.7 mln euro) in local startups

Bosnia's BH Telecom to invest 15 mln marka (7.7 mln euro) in local startups Photo: All Rights Reserved

SARAJEVO (Bosnia and Herzegovina), September 14 (SeeNews) - Bosnia’s state-controlled BH Telecom [SAJ:BHTS] will invest 15 million marka ($9.1 million/7.7 million euro) in local startups in the next three years, it said.

The company plans to support local startups which work on innovative technologies with the aim of creating a better digital society, BH Telecom said in a statement last week.

The funding will be provided through BH TechLab, the telco's platform for providing support to local startups and early-stage entrepreneurs with innovative ICT ideas, according to the platform's website. The application procedure is already open.

BH Telecom is the largest of three telecommunications companies operating in Bosnia, which comprises two autonomous entities, the Federation and the Serb Republic.

BH Telecom is based in Bosnia's capital Sarajevo and has its customers mainly in the Federation. The company offers fixed and mobile voice services and Internet access.

The other two Bosnian telcos are HT Mostar, which is active in the Federation, and Telekom Srpske which operates in the Serb Republic.

(1 euro = 1.95583 marka)