One of Singapore's largest telecom operators – StarHub, has just piloted a crowdfunding platform called Crowdtivate, a special version exclusively for Asian startups.
Regarded as the world's first telecommunications-operator-backed crowdfunding platform, Crowdtivate exemplifies StarHub's ambitions. Through it, StarHub wants access to promising startups and opportunities to advise and invest in them.
Stephen Lee, Director of StarHub's i3 (Innovation, Investment, Incubation) program, said: “Through Crowdtivate, we hope to tap into a resource of highly creative and practical ideas from local talent. From there, we can support and invest in them, helping them become successful entrepreneurs in the future. At the same time, we can use their services and products as customers or partners.”
To receive access to Crowdtivate, startups need to request an access code. Alongside technology startups, Crowdtivate also welcomes creative and artistic ventures such as book publishing or film projects.
Video Introducing a Crowdfunding Fund Supporting Startups in Asia – Source: YouTube /StarHub
Crowdfunding is currently still in its infancy in Asia. However, there have been some noteworthy initial successes, such as the 3D printer project, The Buccaneer 3D printer, which recently raised as much as USD 1.5 million from the public.
Kickstarter (the world's first crowdfunding network) is still not available in Southeast Asia.
Experts predict that Kickstarter will enter Southeast Asia in the near future; Kickstarter entered Australia last year. Other crowdfunding models have also emerged, such as Indiegogo (one of the world's leading crowdfunding networks), while Australia's Pozible is already present in Singapore and Malaysia.
To compete with those names, Crowdtivate may need to rely heavily on StarHub's reputation. As Singapore's second-largest telecom operator, StarHub can provide absolute reassurance to people contributing funds to projects.
We hope this will be a breakthrough project, helping bring more innovative products and services from Asia to the world.
Chương trình liên quan tại YUP Education: X-FundUp – khóa học gọi vốn «Giải Mã Cơ Chế Vốn» · The Journey – lộ trình phát triển doanh nhân
