Apr 10, 2014

    StarHub and SingTel lend a hand to start-ups in region

    STARHUB has launched a crowdfunding platform aimed at helping start-ups in the region raise awareness about their products, the telco said yesterday.

    Named Crowdtivate, the platform will be opened next month and is co-managed by the telco and crowdfunding platform operator Crowdonomic.

    Crowdfunding is the practice of funding a project or venture by raising many small amounts of money from a large group of people.

    Unlike other crowdfunding platforms which focus mainly on fundraising, Crowdtivate will also provide entrepreneurs with mentorship and business incubation support, said StarHub's chief technology officer, Mr Mock Pak Lum.

    StarHub is also working with other "similarly minded telcos" in the region keen on providing start-ups with funding and other forms of help, he added.

    The telco unveiled its new platform at Crowdsourcing Week 2014, which will be held until tomorrow at Fusionopolis.

    Meanwhile, telco group SingTel and its mobile company associates around Asia have launched an alliance to help start-ups in the region expand outside their respective home markets.

    Innov8 Sparks will be set up by SingTel Innov8, AIS The Startup, Kickstart Ventures by Globe, Optus-Innov8 Seed and Telkomsel "Teman-Dev".

    The alliance will lend a hand to eligible start-ups to venture into Australia, Indonesia, the Philippines, Singapore and Thailand, SingTel Innov8 and Innov8 Sparks said in a joint statement.

    Start-ups in the Innov8 Sparks programme will gain access to working space, introductions to local partners and start-up communities, as well as local market information and resources, the statement said.

    "Expanding beyond local shores is never easy for start-ups in the region, but the head start provided by Innov8 Sparks will help increase their chances of success," it added.