Techblog
How SMEs can benefit from Singtel Innov8 Connect programme
Singtel Innov8 has announced its latest initiative designed to enable and empower SMEs in the region to innovate and solve problems. Here’s how your business can gain from the development.
How Singtel Innov8 Connect works
Many businesses emerge out of the desire to solve problems and improve the world. If your business seeks opportunities to complete challenges and innovate, then you may be interested in learning about Singtel Innov8 Connect, a programme designed to support enterprises interested in solving real problems in everyday life.
Innov8 is Singtel's venture-capital division, responsible for identifying partnerships and utilising over $250 million in funding to support potential projects and enterprises with solutions Singtel finds interest in.
The goal of Innov8 Connect is to help bridge real-world ideas and innovations with the firms that can provide solutions. Often a startup emerges with ideas and technologies, but not necessarily a problem to solve. Innov8 tackles this issue by posting projects on its website for firms to submit solutions, enabled by the technologies or ideas of their company. If someone is selected, Singtel provides funding and other support.
At the moment, Singtel Innov8 is focused on three core paradigms with its projects:
- Cloud services for enterprises.
- Designing smarter and safer urban spaces.
- Enabling smarter and safer customer experiences.
These areas have been identified in various project scenarios, including everything from in-home Wi-Fi experiences to drone management to network efficiency.
Enabling innovation opportunities for SMEs
For many startups and SMEs, acquiring funds to develop ideas and technologies is easier said than done. It depends on not just finding a venture capitalist, but also one willing to invest in your business at its current stage. Innov8 supports startups and SMEs by providing not only $75,000 in direct funding, but also other invaluable tools and resources.
For example, Innov8 is powered by Singtel, giving project winners access to Singtel's network, infrastructure and other resources. Singtel also serves more than half a billion customers in more than 20 countries, enabling winners access to a vast potential customer base.
Innov8 also offers access to its network of other investors and partners – beyond the initial funding it provides. Once an SME is selected for an Innov8 project, they will find it easier to secure funding in the future, as other investors may be willing to work with companies that Innov8 is involved with. Any one of these benefits is huge for an SME, but together they can create opportunities to accelerate growth, build a brand and enable world-class opportunities.
If you're an SME that focuses on innovation, keep the Innov8 Projects page on your feed for regular updates. You never know – their new challenge might be something your expertise could solve.
For any startup or SME working on a big idea or technology to improve the world, there's nothing like a chance to partner with a global enterprise. Innov8 may be a powerful resource if its projects match with your ideas, and a successful partnership offers you impressive tools and resources like:
- $75,000 in funding
- Opportunities with future partners and investors
- Access to 575 million customers in 20 countries.
Most importantly, getting to work with Singtel Innov8 could be your business’s key to growth acceleration and transform your ideas into reality.