22 July 2014
StarHub Crowdtivate Raises the Curtain, Starts Crowdfunding
Also Partners Indosat to Promote Innovative Projects from Indonesia’s Entrepreneurship Community
Singapore, 22 July 2014 – Crowdtivate, the world’s only telco-backed, rewards-based crowdfunding platform is now open to the public. 12 Asia-based projects ranging from creative works and digital technology to assistive technology will seek funding support worldwide in order to bring their entrepreneurial vision to life. Out of the 12 projects, five are world-first and three are Asia-first. These include the world’s first and only mechanical smartwatch hybrid and the first device in the world that works with home air-conditioners to deliver perfect indoor temperature for energy efficiency.
Mr Stephen Lee, Head of StarHub i3 (Innovation, Investment, Incubation) said, “Since the beta launch of Crowdtivate in April 2014, we have received hundreds of project proposals for crowdfunding. These past three months were spent with the entrepreneurs developing a strong marketing and promotional campaign that we believe will inspire the crowdfunding community. We are honoured to introduce these projects to the global audience eager for new waves of innovation and artistry.”
Crowdtivate allows entrepreneurs in Asia to create awareness of their business ideas or projects and to raise funds from consumers so that they can scale their product launch gradually. Supporters use Crowdtivate to discover new, interesting products, receive specific rewards for supporting their favourite projects and actively participate in bringing these projects from an idea or concept to life. They either sign up for a free account on Crowdtivate or log in with their Facebook or Linkedin user ID and password to browse projects. Contributions are made through PayPal or major credit cards.
To enhance the success rate of these projects, Crowdtivate provides entrepreneurs mentorship and consultancy to create good campaigns. Depending on the response from backers, Crowdtivate also offers added support in terms of business incubation and regional outreach. Selected projects may receive additional assistance, including access to test users, marketing support, start-up funding, free software development, invention development and infrastructure support.
Among the organisations providing mentorship and consultancy are StarHub i3, Crowdonomic, Home-Fix Experience Centre, National Book Development Council of Singapore, NUS Design Incubation Centre and Singapore Infocomm Technology Federation.
As the world's first telco-backed crowdfunding platform introduced in Singapore by StarHub, the second largest telco in the country, Crowdtivate has started making inroads into other markets. StarHub is pleased to announce that Indonesia’s Indosat has started work with the local entrepreneurship community to offer campaign proposals on Crowdtivate.
“We are pleased to form a strategic partnership with StarHub on Crowdtivate—that will help us broaden our commitment to Indonesian innovation, and provide both local and global visibility and funding opportunities to Indonesian innovators through crowdsourcing. By adding Crowdtivate to our innovation portfolio such as IWIC & Ideabox, Indosat is proud to have one of the broadest digital ecosystem development programmes in the region that allows Indonesian entrepreneurs to secure support, mentoring and funding, and bring immense benefits to people's lives,” said Mr Alexander Rusli, CEO of Indosat.
Visit Crowdtivate at www.crowdtivate.com.