The startup innovation arms of Singtel (Singtel Innov8), Orange (Orange Fab), Deutsche Telekom (hub:raum) and Telefónica (Telefónica Open Future) have partnered to select and invest startups in Africa and elsewhere, helping them grow and expand to other markets.
Expected to help them launch them beyond their respective home markets, the telcos will open up their resources such as market insights, partners, co-working spaces and access to the companies’ operating businesses to these startups.
The selected start-ups may also have the opportunity to gain access to the operators’ collective mobile customer base of over one billion people across four continents.
Mr Edgar Hardless, CEO, Singtel Innov8, said: “This is a great opportunity for us to deepen our connections with leading innovation hubs around the world. More start-ups harbour aspirations to venture beyond their own markets and go global. Through Singtel Innov8’s deep connections in Southeast Asia, we can help open doors for African, European, Middle Eastern and Latin American start-ups to the region. Similarly, our portfolio companies can leverage this partnership to expand beyond their home markets.”
Ms Nathalie Boulanger, Start-up Ecosystem Director, Orange said the global partnership is the critical next step to ensure that digital innovators continue to flourish. Orange promises to provide start-ups with access to new markets, thereby enabling them to accelerate their growth further.
The move is a huge opportunity to develop the bridges between the ecosystems in Asia, Africa, Europe and Latin America and to provide start-ups with critical market access, funding and expertise to become more successful with their international expansion.
The partnership benefits are available to start-ups supported by hub:raum, Orange Fab, Telefónica Open Future and Singtel Innov8, as well as all members of Innov8 Sparks – a network of start-up support and funding initiatives across Southeast Asia, founded by members of the Singtel Group. Some of the investment partners startups will have access to include Active Venture Partners, Groupe Axon Partners, Groupe Cora l (CIP), Kibo Ventures (Amérigo), Inversur (Amérigo), Invest Tech (Amérigo) and Shortcut Ventures.
