Mobile giants Telefonica and Deutsche Telekom have both moved to heavily invest in technology start-ups.

Telefonica has created a venture capital fund network of €300 million, known as Amérigo, described by the company as being aimed at “new businesses that are innovating in the digital space”.

Deutsche Telekom have also rearranged there venture capital arm T-Venture, as it moves to increase speed of investments, as well as moving to buy majority stakes in tech start-ups.