Singaporean telecom conglomerate SingTel has today announced that it has launched a “first-of-its-kind” alliance in Asia Pacific to give startups that extra boost in market expansion efforts. Eligible startups will receive assistance to expand out of home countries, and into locations where SingTel has a subsidiary, such as Australia, Indonesia, the Philippines, Singapore and Thailand.
Dustin Cheng, CEO, ZAP, a Philippines-based rewards platform, Echelon alumnus and a recipient of Kickstart Ventures’ support, said, “Entering new markets is especially hard for a startup. ZAP has benefited from new connections to both, investors and partners provided by Kickstart Ventures and other members of Innov8 Sparks.”
Assistance could come in the form of working space, introductions to local partners and resources like local market information, according to the official website.
For the record, SingTel Innov8 has a total of 33 startups in its portfolio, including Ruckus Wireless, Viki, Maker Studios and Fab. The venture fund has an initial fund size of S$200 million (about US$159 million).
Singtel Innov8 is the venture capital arm of the Singtel Group with a fund size of US$250 million. Headquartered in Singapore, Singtel Innov8 also has offices in San Francisco and Tel Aviv.
Teridion, igloohome, Vuclip, Viki