StarHub focuses on crowdfunding for entrepreneurs

At a time crowdfunding is only beginning to pick up across the region, StarHub’s i3 has beta-launched Crowdtivate, its online social launch pad aimed at aiding local and Asia-based entrepreneurs and artists.

Crowdtivate is an open platform for entrepreneurs and artists to obtain financial contributions from supporters around the region via a funding system. Tapping on this crowdfunding platform, these entreprenures will be able to create awareness of or gather feedback on their ideas or works.

According to TechinAsia, Pak Lum Mock, CTO of StarHub said at the launch: StarHub and telcos “don’t have the deep pockets like Facebook to throw billions of dollars at WhatsApp. If we have a platform to encourage people to put their ideas on, and if enough people vote for the idea, then the idea can probably be [profitable] for us.”

Crowdtivate will provide mentorship to create good campaigns, with options for support in business incubation and regional outreach. And this it says, differentiates it from Kickstarter and Indiegogo. “After an idea or project is accepted, Crowdtivate provides mentorship to create good campaigns, with options for support in business incubation and regional outreach."

"In addition, selected campaigns will receive additional assistance, including access to test users, marketing support, start-up funding, free software development, invention development and infrastructure support. We believe this approach offers entrepreneurs with a more comprehensive roadmap for making their ideas into a viable business,” StarHub told Marketing, in response to a question on how it sees itself different from competitors.

Currently, Crowdtivate is co-managed by StarHub i3 and its partner, Crowdonomic, a crowd-powered technology solutions and strategic advisory firm based in Singapore. The platform has the support from Home-Fix Experience Centre, National Book Development Council of Singapore, NUS Design Incubation Centre and Singapore Infocomm Technology Federation.

"Many of the most successful companies today have roots in the crowdfunding community and with Crowdtivate, StarHub aims to tap into a continuous source of innovative and creative ideas from local inventors,” Stephen Lee, StarHub’s Head of i3 (Innovation, Investment, Incubation) added.