Singtel Innov8, the corporate venture arm of the Singtel Group, has launched the 2018 Innov8 Connect programme to recruit local and global startups with innovative solutions that could help accelerate the adoption of Internet of Things (IoT) technologies.
This year’s Innov8 Connect programme will focus on smart IoT solutions in areas of public infrastructure, transportation, utilities, security, connected homes and personal wellness. Singtel has been trialling applications in environmental sensing, asset tracking and waste management to develop solutions for IoT.
“IoT is radically transforming the way enterprises operate, and consumers live and play,” said Edgar Hardless, CEO, Singtel Innov8. “Through a structured programme like Innov8 Connect, we can specify Singtel’s wishlist of IoT solutions and help connect with local and global startups. This mutually beneficial programme spurs greater innovation by giving startups a platform to test and validate their products, enabling them to bring their solutions to the market faster."
Since its launch in 2016, Innov8 Connect has helped startups validate their solutions with the Singtel Group. Among the programme’s notable alumni are Moogsoft, a provider of artificial intelligence solutions for IT operations; and Xjera Labs, an AI-based image and video analytics company. “The Innov8 Connect programme is a great platform for exposing technology start-ups like ours,” said Jeremy Heng, co-founder of Xjera Labs. “It gave us the ability to compete with the big guys and the opportunity to showcase our products and solutions.”
Singtel Innov8, the venture capital arm of the Singtel
Group, invests in and partners with innovative tech startups worldwide.
It has a fund size of US$250 million and its own set of decision making,
approval and funding processes. Beyond funding, Singtel Innov8 is a
gateway for startups to tap on the resources and expertise of the
Singtel Group, while enabling the group to gain access to emerging
technologies. Singtel Innov8 focuses its investments on technologies and
solutions that can lead to quantum changes in network capabilities,
next generation devices, digital services and enablers to enhance
customer experience. Headquartered in Singapore, Singtel Innov8 also has
offices in San Francisco and Israel.
Details:
The Innov8 Connect programme is open for submissions from now until 5 August 2018. Interested startups are invited to submit their proposals for the six new IoT business areas identified by Singtel. Browse project briefs
Shortlisted start-ups will be invited to pitch their business case to a panel of Singtel Group management executives. Those selected will receive up to S$75,000 to test and develop their solutions with the group. Six startups will be chosen to provide a solution for each of the six business areas. Singtel will also help them explore commercialisation opportunities across the group.
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