Programme will help entrepreneurs secure the mentoring and funds they need to launch successful digital businesses- SingTel Innov8 will provide resources, industry insights and access to regional markets
JFDI is partnering SingTel Innov8, the corporate venture arm of the SingTel Group, to create a new start-up accelerator programme in the Asia Pacific Region. JFDI, a member of the TechStars Network will offer digital start-ups intensive mentorship from industry experts plus access to mobile markets and investors across Asia.
Operating in Singapore, JFDI aims to replicate TechStars’ high success rate as a seed accelerator in taking digital start-up businesses from ideas to investment readiness. In just five years, TechStars and similar programmes have created over US$5 billion in value in hundreds of new businesses.
The highlight of the programme is the JFDI–Innov8 2012 Bootcamp, an intensive 100-day event, where teams of developers and entrepreneurs will receive S$15,000 of seed investment in their startups and guidance from accomplished mentors and industry experts to help accelerate their businesses. These teams will also get the opportunity to pitch to international investors on Demo Day.
To win a spot in the Bootcamp, developers and entrepreneurs from around the world can apply online. In addition, they can take part in Startup Weekend events, where they will form teams to generate ideas for mobile and internet applications. The weekend-long competitions will be held in a number of major cities across Asia Pacific. The first Startup Weekend, hosted by SingTel, will kick off in Singapore on 14 October.
As many as 15 teams will be shortlisted for the Bootcamp to be held in Singapore in January 2012.
Meng Wong, co-founder of JFDI said: “Our door is open to anyone from anywhere who can prove that they have got what it takes. Our objective is to catalyse the creation of world-class, investment-ready start-up businesses that have the talent, technology and connections to scale rapidly and enrich people’s lives. As part of the SingTel Group, Innov8 brings more than funding. It also provides industry expertise, regional market insights and the potential to access over 416 million of the Group’s mobile customers across Asia and Africa.”
Yvonne Kwek, CEO SingTel Innov8 said: “This accelerator programme gives start-ups an amazing opportunity to crystallise and test their ideas as well as gain access to funding for their business dreams and goals. Innov8 will play a role in nurturing the teams and facilitating their go-to-market strategies to help deliver innovative digital applications and services to millions across Asia.”
JFDI is also supported by Singapore’s government agencies including the Media Development Authority and SPRING Singapore.