Dutch telecom company KPN has set up a €35m start-up fund to stimulate innovation in the IT and communications sector.

The fund, named KPN Ventures, is part of a trend among international companies to get involved in start-ups.

‘It is more important than ever to partner with agile and innovative players and be part of new developments,’ chief finance officer Jan Kees de Jager said in a statement.

Potential partners will also be offered access to KPN’s networks and expertise, the statement said.