Tencent, NUS set up incubator scheme for Singapore start-ups

Chinese Internet giant Tencent Holdings and the National University of Singapore (NUS) have set up a scheme to support entrepreneurs and incubate start-ups here.

The three-year tie-up involves the group's unit, Tencent Cloud, providing cloud solutions, technical support, expertise and online and offline training to NUS-affiliated firms incorporated in Singapore.

About 20 start-ups will be selected by Tencent and NUS' entrepreneurial arm NUS Enterprise to participate in the programme in the first year.

The start-ups will learn about best practices in their fields, it was noted yesterday, when a memorandum of understanding was signed.

They will also be able to access Tencent's artificial intelligence (AI) lab, dedicated AI services, and other means to create apps and features.

The start-ups will get other ecosystem support from the Chinese firm as well, along with opportunities to obtain investments, receive leads and build connections with global ecosystem partners.

Tencent's cloud products cover a range of sectors, including finance, telecommunications, e-commerce, travel and hospitality, as well as online gaming and entertainment.

  • 20 Approximate number of start-ups that will be selected by Tencent and NUS' entrepreneurial arm NUS Enterprise to participate in the programme in the first year.

The Hong Kong-listed tech giant operates Chinese social networking platform WeChat and instant messaging portal QQ. It also runs a targeted advertising platform as well as fintech and business services.

A version of this article appeared in the print edition of The Straits Times on October 24, 2019, with the headline 'Tencent, NUS set up incubator scheme for Singapore start-ups'. Print Edition | Subscribe