Global telcos, including Singtel, unite to bridge startup ecosystems
By Digital News Asia September 15, 2015
- Startup arms of Singtel, Orange, Deutsche Telekom and Telefónica in pact
- Startups get chance at operators’ collective mobile customer base of over 1bil
THE startup innovation arms of Singtel (Singtel Innov8), Orange (Orange Fab), Deutsche Telekom (hub:raum) and Telefónica (Telefónica Open Future), said they have joined forces to bridge the startup ecosystems across South-East Asia, Africa, Europe, Latin America and the Middle East.
The partnership aims at catalysing the growth of eligible startups and launching them beyond their respective home markets, the four parties said in a joint statement.
Selected startups will have the benefit of tapping into the resources and network of the four telecommunications companies. This includes market insights, introductions to partners, the use of co-working spaces, and access to the companies’ operating businesses, they said.
Selected startups may also have the opportunity to gain access to the operators’ collective mobile customer base of over one billion people across four continents.
“This is a great opportunity for us to deepen our connections with leading innovation hubs around the world,” said Singtel Innov8 chief executive officer Edgar Hardless.
“More startups harbour aspirations to venture beyond their own markets and go global. Through Singtel Innov8’s deep connections in South-East Asia, we can help open doors for African, European, Middle Eastern and Latin American startups to the region.
“Similarly, our portfolio companies can leverage this partnership to expand beyond their home markets,” he added.
The partnership benefits are available to startups supported by hub:raum, Orange Fab, Telefónica Open Future and Singtel Innov8, as well as all members of Innov8 Sparks, a network of startup support and funding initiatives across South-East Asia founded by members of the Singtel Group.
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