Experience the pulse of Asia's innovation and connect with Asia's technology industry!Love our content? We love you too!Organizing an event? Share it with Asia's tech community on e27!Change the world! Over 200 tech industry jobs in Asia and growing
Business  10, Apr 2014

This combines startup acceleration with crowdfunding. No kidding!

By

Newly-launched Crowdtivate by StarHub is an open platform for entrepreneurs to obtain financial contributions, as well as mentoring and business support

What happens when you combine an accelerator programme with a crowdfunding site? We are about to find out with the beta launch of Crowdtivate by StarHub that took place yesterday at the 2014 Crowdsourcing Week Global conference in Singapore.

Crowdtivate is an open platform for entrepreneurs and artists to obtain financial contributions from supporters around the region via a funding system in return for specific rewards. Projects must be related to arts, books, films, technology or assistive technology.

Crucially, it doesn’t end there. Crowdtivate intends to provide mentoring to create successful campaigns, with options for support in business incubation and regional outreach for startups. Regional outreach is especially important for hardware firms in Asia, as startups involved in that space need help to work together with manufacturers and create distribution channels in the region.

Also Read: HaxAsia partners with BootstrapLabs to accelerate startups

Pak Lum Mock, CTO, StarHub, gave a candid assessment about the nature of telcos, “As telcos, we are dinosaurs… we don’t have the deep pockets like Facebook to throw billions of dollars at WhatsApp. If we have a platform to encourage people to put their ideas on, and if enough people vote for the idea, then the idea can probably be good for us.”

While it may be true that StarHub is a dinosaur, it is a dinosaur with much more resources than existing crowdfunding sites. Hence, the telco can afford to throw its weight around in the region until more company-backed crowdfunding sites arrive. This arrangement benefits StarHub in the long-term as successfully funded startups will no doubt have to contribute to the telco in an equitable way, either in revenue or shares.

Crowdtivate is co-managed by StarHub and its partner Crowdonomic, crowd-powered technology solutions and strategic advisory firm based in Singapore. Crowdtivate will be open in May 2014 to supporters and backers to browse, view and fund projects they are interested in. Interested parties can visit can request for an invitation code to enter the platform.

Theon Leong

Theon Leong

Theon is a skeptic who believes in possibilities after learning that three thirds of a pie does not add up to one and that cats can be dead and alive at the same time. He writes about business and technology, and is particularly interested in deconstructing complex ideas into bite-sized chunks. His favorite novel is The Little Prince, and spends his free time on chess and video games.

Work for a Startup

Financial Operations Associate
Saena Partners
Technician
StaffOnDemand
All Categories Jobs in Pakistan
JOBZ.PK
Marketing & Business Development Internship
StaffOnDemand
Management Associate
TIEN Academy