Tech startups to get regional boost
- 09 April, 2014 12:31
SingTel Group on Wednesday unveiled Innov8 Sparks, a program that will help technology startups across Asia-Pacific gain access to new markets.
Founding members of the program include Optus-Innov8 Seed, which invests in Australian startups, SingTel Innov8 in Singapore, AIS The Startup in Thailand, Kickstart Ventures in the Philippines, and Telkomsel Teman-Devin in Indonesia.
Startups will be provided with local market information and resources, introductions to local partners and startup communities, and working space. In Australia, Optus-Innov8 Seed also invests up to $250,000 in each startup.
Optus said startups need to be part of the Optus-Innov8 See portfolio to be part of the new program. There are currently more than 120 startups across the region who can be part of it, Optus said.
Peter Huynh, director, seed innovation & investments at Optus-Innov8 Seed, said the program is a great opportunity for supported startups in Australia.
“The reciprocal nature of the initiative means not only can we support Asia-based startups to enter our market, we can also help our supported startups to expand into new markets across the APAC region – giving them a better of success with local knowledge, contacts and co-working space,” he said.