CEBU, Philippines - To help Philippine tech startups make it in the Southeast Asian market, Kickstart Ventures, Inc. has teamed up with incubation and venture capital companies operated by various members of the SingTel Group.
Kickstart is one of the new early startup initiatives under the SingTel Group that includes SingTel Innov8 from Singapore, AIS The Start-up from Thailand and Optus-Innov8 Seed Program from Australia.
The collaboration facilitates the access of Kickstart portfolio companies to Asian markets, ideas and innovation, thought leadership, and information exchange.
It implements purpose-built programs that combine the investment expertise, agility of the members with the broad infrastructure, distribution strength and the scale of the SingTel Group which has 468 million mobile customers across Asia Pacific and Africa.
In the company’s latest press statement, SingTel Innov8 chief executive officer Edgar Hardless described the startup scene in Southeast Asia as not as developed as the Silicon Valley that has established an ecosystem that creates and supports innovative ideas over the years.
He cited that there are a lot of passionate people with great ideas who want to start businesses but struggle since they lack the necessary support in the ecosystem.
“This is where SingTel Innov8 and other SingTel Group members can collaborate to nurture and create our own ecosystem in this part of the world. We want the Kickstart portfolio companies to be successful in the Philippines, and help them expand into other parts of the region†he said.
Hardless added that the Group has expressed interest particularly in startups that make use of digital technology to resolve local or regional problems.
Meanwhile, Kickstart president Minette Navarrete said that since the company’s thrust is aimed to build bridges to enable close and relevant engagement between the business community and the startup founders, working with other incubation and investment companies within the SingTel Group supports such goal in terms of fostering collaboration and creating a startup community that is acknowledged globally.
Navarrete added that unlike large-scale companies, startup founders who do not have any track record, prior experience and existing relationships will find it difficult to make it globally.
“What we do is empower the startup founders to give them a better chance for success. With the help of other companies within the SingTel Group, we are able to open the door for founders; the founders’ pitch, close the deal, execute, and hopefully win big. It can be done, of course; and we’re all working together to make it faster and easier,†she stated.
Kickstart, formed by Globe Telecom in March last year, is tasked to provide support and develop a dynamic community of technopreneurs in the Philippines. It is committed to build innovative businesses in cooperation with like-minded individuals and organizations by providing funding, mentorship and education. — (with PR) /JOB (FREEMAN)