SPH Media Fund, Plug and Play and Infocomm Investments (IIPL) have launched SPH Plug and Play, its media and technology-focused accelerator programme.
This collaboration is aimed at building a "strong pipeline of high growth, innovation-driven tech startups" to address challenges of the media industry.
The programme plans to admit 20 media tech start-ups within the next year across media sectors ranging from advertising, e-commerce, marketplaces, mobile, news and content distribution to public relations.
The selection follows an online application process at www.sphplugandplay.com. SPH Plug and Play will invest SG$30,000 in each start-up company selected to participate in the 10-week accelerator programme.
SPH Plug and Play will provide the selected start-ups with mentorship from domain experts from venture capital and media industries. The startups will also receive training and have access to SPH’s intellectual property and resources. The collaborative effort will provide opportunities for startups to network with industry stakeholders and potential investors.
IIPL will also provide the acceleration space at its start-up facility, BASH (Build Amazing Start-ups Here) at Block 79 Ayer Rajah Crescent for SPH Plug and Play to run its programme.
At the end of the 10-week programme, the start-ups will pitch their products to a group of active investors in Singapore brought together by the three partners.
Start-up companies that have undergone acceleration may also choose to stay on for a short period of time at BASH to continue building their product and business under the mentorship of IIPL and other ecosystem partners.
Chua Boon Ping, CEO, SPH Media Fund, said: “It is part of SPH’s long term strategy to invest in innovative digital media companies, in particular those that could create synergies with SPH’s existing businesses.”
Saeed Amidi, founder and CEO, Plug and Play, said: “The media landscape is changing and there are unlimited opportunities across the entire media value chain for startups to innovate.”
Alex Lin, head of IIPL, said: “As Singapore builds itself into a Smart Nation, it is imperative for us to groom promising tech start-ups with the foresight to seize these new opportunities to innovate. The accelerator model is definitely the way to go to achieve this.”
The first run of the 10-week programme is targeted to commence around middle of this year.