StarHub launches crowdfunding platform for start-ups

Starhub has launched a new crowdfunding platform aimed at helping start-ups in the region raise awareness about their products, the telco said on Wednesday. -- FILE PHOTO: BLOOMBERG
Starhub has launched a new crowdfunding platform aimed at helping start-ups in the region raise awareness about their products, the telco said on Wednesday. -- FILE PHOTO: BLOOMBERG

StarHub has launched a new crowdfunding platform aimed at helping start-ups in the region raise awareness about their products, the telco said on Wednesday.

Named Crowdtivate, the platform will be open in May and is co-managed by the telco and crowdfunding platform operator Crowdonomic.

Crowdfunding is the practice of funding a project or venture by raising many small amounts of money from a large group of people.

Unlike other crowdfunding platforms which focus mainly on fundraising, Crowdtivate will also provide entrepreneurs with mentorship and business incubation support, said StarHub's chief technology officer Mock Pak Lum.

StarHub is also working with other "similarly-minded telcos" in the region keen on providing startups with funding and other forms of help, he added.

The telco unveiled its new platform at Crowdsourcing Week 2014, which will be held until Friday at Fusionopolis.