Energy Technology Ventures and Chevron Technology Ventures are joined in the round by Jebsen Asset Management, which invests on behalf of the Kristian Gerhard Jebsen shipping company, and venture firms Energy Ventures, Viking Venture, and Investinor.

Deutsche Telekom is joined backing the Germany-based film recommendation and discovery platform by venture firm DFJ Esprit and Creative Industries Berlin.

Qualcomm Ventures's QPrize is set to select eight finalists from across the globe, and the competition's reach has been expanded to include Brazil and Eastern Europe.

Soltecture, previously backed by corporates including Intel's corporate venturing unit, Vattenfall Europe and GDF Suez, said it had "extensively explored new financing options".

Nick Pendleton, director of corporate strategy and innovation? at Royal Mail Group, told delegates at the Start-Up Britain panel on corporate venturing the platform was part of the state-owned company's growth agenda ahead of what could be a privatisation and flotation next year.

More than 50 corporate venturing units managing more than $5bn selected the two winners out of 15 finallists at the challenge, held in the UK and organised by Global Corporate Venturing and in partnership with American Security Challenge.

UK micro-processing company Arm's vice president of corporate business development says the UK needs to develop a culture where people want to talk about entrepreneurship at a dinner party.

The UK Minister for Universities and Science says the key role the UK government is playing to stimulate investment and the development of innovation is "under-reported".

OIOVentures to close a gap in large organisations in how to take equity stakes in start-ups and apply operational links between the nascent companies and the investors.