KATHMANDU, August 4: Huawei has announced to invest US $ 100 million in the promotion of startups in the Asia Pacific region.
In an inaugural of Huawei Cloud Spart Founders Summit on Tuesday, Huawei unveiled its plan of injecting the amount targeting to build a sustainable startup ecosystem for the region in the next three years. Currently, Huawei has been helping Singapore, Hong Kong, Malaysia, and Thailand build their startup hubs.
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 into the Spark accelerator program and shaping 100 of them into scaleups.
Similarly, Huawei launched its Cloud-plus-Cloud Collaboration and Joint Innovation Program, to further ramp up its support for startups around the world. According to the company, it will devote the ongoing efforts and leverage its complete business portfolio in the cloud-plus-cloud collaboration space to foster technological innovation, global and local services, and business ecosystems, accelerating the growth of startups.
At the event, Huawei launched three additional initiatives under the Asia Pacific Spark Program. The Spark Developer Program, the first in the type aims to nurture a developer ecosystem powered by Huawei Cloud in the Asia Pacific region. The Spark Pitstop Program has been designed to onboard and support startups on Huawei Cloud to accelerate product development. The Spark Innovation Program (SIP) will focus on facilitating enterprise innovation through the Spark startup ecosystem.
Inaugurating the program, Huawei Senior Vice President and Board Member Catherine Chen underscored the importance of startups for social advancement. According to him, more than three decades ago, Huawei itself was established as a startup with an investment of US $ 5,000.
The summit was attended by representatives from many prominent Asian startups, academia, various industries and governments, and the media, as well as more than 50 regional top venture capitalists and over 300 startup founders. Speeches and panel discussions at the event focused on the social value of the startup ecosystem and its contribution to promote technological and ecosystem innovation, to contribute to local communities and drive socioeconomic development.