Singtel Innov8, the venture capital arm of the Singtel Group, has launched Innov8 Connect, a programme that aims to bring start-ups and Singtel together to create solutions for business challenges faced by the Singtel Group.
Through this programme, selected start-ups will receive up to $S75,000 to test and validate their solutions with Singtel and is open to start-ups from around the globe.
Successful solutions may lead to commercialisation with the Singtel Group, providing start-ups access to its customer base, which includes enterprises, consumers and more than 575 million mobile customers across Asia, Australia and Africa.
They will also have the opportunity to seek funding from Singtel Innov8 and tap on its network of co-investors and partners across the globe.
Singtel Innov8 CEO, Edgar Hardless, said since its launch in 2010, it has invested and partnered with many talented start-ups globally to help them expand their businesses and introduce technologies to the Singtel Group.
“Entrepreneurs are looking for problems to solve. This programme enables Singtel to share real-world business challenges and invite solutions from start-ups globally. It is an excellent opportunity for start-ups to work directly with Singtel’s business units and validate their solutions,” he said.
Hardless added that as the venture arm of the Singtel Group, Singtel Innov8’s mandate is to scout and provide the group with insights and early access to emerging technologies, as well as to nurture the innovation ecosystem in Southeast Asia.
“Innov8 Connect is part of Singtel Innov8’s initiatives to create greater awareness for Singtel’s innovation agenda and engagement with start-up ecosystems.”
Singtel Innov8 will publish briefs detailing various business challenges through the Innov8 Connect portal.
Start-ups with relevant solutions can submit their applications through the portal and selected start-ups will then be invited to pitch to a panel of management representatives from the Singtel Group. After a rigorous selection process, one company per brief will be chosen to work with Singtel to trial its solution.
The first set of 10 project briefs will be focused on business challenges in areas such as enterprise Cloud, smart and safe city and customer experience.