Up to $75,000 funding from Innov8 Connect is available for startups to test and validate solutions to business challenges.
Innov8 Connect
The Singtel’s Innov8 Connect is a programme that brings start-ups and Singtel together to create innovative solutions for business challenges faced by the Singtel Group.
Background
Singtel Innov8, the venture capital arm of the Singtel Group, invests in and partners with innovative tech start-ups 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 start-ups 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 Tel Aviv.
Objective
Through the Singtel Innov8 Connect programme, you will have the opportunity to test drive your products and solutions with Singtel Group and leverage Singtel Innov8’s global partnerships and extensive connections in Southeast Asia. This will enable you to access more markets and gain valuable exposure, which can fuel your business growth. The programme will also open the door to future collaboration opportunities with Singtel’s operating businesses.
Funding
Selected start-ups will receive up to $75,000 to test and validate their solutions with Singtel.
Successful solutions may lead to commercialisation with the Singtel Group, providing start-ups access to the Group’s customer base, which includes both enterprises and consumers and over 575 million mobile customers across Asia, Australia and Africa. They will also have the opportunity to seek funding from Singtel Innov8 and tap on its network of co-investors and partners across the globe.
Eligible Applicants
To be eligible for the Innov8 Connect, an applicant must:
- Be a registered company and based in Australia (Intellectual Property must sit within the applicant company).
- Be a digital or tech related business.
- Have an existing working prototype.
- Have an established team, technical and non-technical.
Start-ups outside the key investment themes are also welcome to apply.
Eligible Activities
Eligible activities include those that relate to the following key focus areas:
- Quantified self: A person’s daily life data in terms of inputs, states and performance. Self-monitoring/sensing and wearable computing.
- Education technology: Application of web and mobile technologies in the education space including Massive Open Online Courses (MOOCs), video, collaboration tools, online study tools etc.
- Digital home: Automation of the home that includes centralised control of lighting, heating, ventilation, and air conditioning (HVAC), appliances, security locks etc.
- Transport and logistics: Technology including M2M and Big Data to improve capacity optimisation, reduce costs and emissions.
- Financial technology: Mobile and online payments, personal finance management, micro lending, cloud POS, customer loyalty etc. for B2B and B2C.
- Smart speed: Technologies to increase data speed and reduce latency through data compression, content delivery network optimisation, etc.
- Identity security: Management and security of personal and financial identity such as cloud authentication and access control, etc.
- IP protection: Technologies to fight against online copyright infringement, counterfeiting, and other violations of IP laws.
Timing
Applications closed in November 2016. Check back here for updates for the next round.
Media Release
Optus, in conjunction with Singtel Innov8, the corporate venture capital and innovation arm of parent company Singtel, today launched the second instalment of Innov8 Connect, a worldwide call which brings start-ups and Optus together to create innovative solutions for business challenges identified by Optus and the Singtel Group.
The new challenges span a range of areas such as, Internet of Things, augmented reality solutions, and artificial intelligence. Selected start-ups will receive up to S$75,000 to test and validate the solutions with Optus and the Singtel Group.
The second round of Innov8 Connect follows the successful initial call in January 2016, which attracted over 120 submissions from start-ups across the world, and focused on challenges around enterprise cloud, smart and safe city and customer experience.
14 start-ups were short-listed during the first instalment of the programme including the Australian start-up Opmantek who are now engaged in proof of concept discussions with Optus.
Mr Edgar Hardless, CEO of Singtel Innov8, said the success of the first round had inspired the move to broaden the scope of the challenges. “We were so impressed with the quality of submissions, and the work of the Australian team at Opmantek in their development of smart detection solutions for impending major incidents, that we were inspired to collaborate with Optus to find some really great challenges that would resonate with the Australian start-up community.”
Mr Maher, CEO of Opmantek, said, “Opmantek’s highly scalable network management system has been exceptionally popular with telcos in both Latin America and the US and we are thrilled that our engagement with Innov8 Connect has provided the opportunity for us to tap into another a large global business such as the Singtel Group. Through the proof of concept we are embarking on, we will have the opportunity to demonstrate our advanced technology in the areas of event management, network automation and multi-tenancy and our ability to deliver a consolidated and cost effective solution to our clients in the Singtel Group.”
Innov8 Connect allows start-ups to demonstrate their value through business applicable solutions. It’s a fantastic opportunity for a start-up to develop something that can be implemented if it is successful, potentially benefit the 600 million plus customers in 21 countries across the Singtel Group worldwide as they will gain access to an extensive customer base that includes both enterprises and over 600 million mobile subscribers across Asia, Australia and Africa. Interested start-ups can submit their proposals to Innov8 Connect from today until 31 October 2016.
