• Saturday, Sep 25, 2021
  • Last Update : 12:53 pm

Huawei to invest $100m in APAC startup ecosystem

  • Published at 04:16 pm August 4th, 2021
Huawei Spark Founders Summit
Courtesy

Investment to continue for three years

Huawei announced its plan to invest $100 million in startup support recently at its inaugural Spark Founders Summit, which took place simultaneously in Singapore and Hong Kong.

They also said that the investment would go towards its Spark program, which aims to build a sustainable startup ecosystem in the Asia Pacific region over the next three years, said a press release.

Huawei has been helping Singapore build the first startup hub in APAC since 2020 and has expanded the program to many countries in APAC in the past year.

At the summit, Huawei also announced that this program would focus its efforts on developing four additional startup hubs – in Indonesia, the Philippines, Sri Lanka, and Vietnam – with the overarching aim of recruiting a total of 1,000 startups, out of which 100 are scaleups, into the Spark accelerator program.

Three additional startup-related initiatives were launched by Huawei at the event: The Spark Developer Program, which aims to nurture a developer ecosystem powered by HUAWEI CLOUD in the Asia Pacific region; the Spark Pitstop Program, designed to onboard and support startups on HUAWEI CLOUD to accelerate product development; and the Spark Innovation Program (SIP), focused on facilitating enterprise innovation through the Spark startup ecosystem.

Speeches and panels at the Spark Founders Summit focused on the social value of this startup ecosystem and how startups can promote technological and ecosystem innovation to contribute to local communities and drive socioeconomic development.

"We all know how brilliant startups and SMEs are. They are the innovators, disruptors, and pioneers of our times. These companies account for two-thirds of jobs worldwide, create two-thirds of new jobs, and generate almost 50% of global GDP," said Huawei Senior Vice President and Board Member Catherine Chen.

"Thirty four years ago, Huawei was a startup with just 5,000 dollars of registered capital. Recently, we have been thinking: How can we leverage our experience and resources to help more startups address their challenges? Doing so would allow them to seize the opportunities posed by digital transformation, achieve business success, and develop more innovative products and solutions for the world," she added.

55
Facebook 54
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail