18 January 2017
visit http://www.wolterskluwerfs.com

StarHub gains window on the future with crowdfunding launch

09 April 2014  |  3318 views  |  0 blurry people

In a move that banks might want to follow, Singaporean telecoms firm StarHub has launched a new crowdfunding site where entrepreneurs can raise cash from the general public and receive backing for their projects from the telco itself.

Launched in public beta, Crowdtivate is co-managed by StarHub's innovation arm and its local strategic partner, Crowdonomic. The platform has support from Home-Fix Experience Centre, National Book Development Council of Singapore, NUS Design Incubation Centre and Singapore Infocomm Technology Federation.

Crowdtivate accepts ideas or projects related to arts/books/films and technology. 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, the top three monthly Crowdtivate campaigns receive exclusive assistance, including access to test users, marketing support, startup funding, free software development, invention development, and infrastructure support.



Alongside the traditional crowdfunding premise of raising cash, Crowdtivate is also being used by the telco as means to get first-hand access to new innovations and products with commercial potential. It's an idea that forward-thinking banks might want to borrow as they look to compete with innovative new start-ups and digital interlopers from the tech scene.

Stephen Lee, StarHub's head of i3 (Innovation, Investment, Incubation), says: "Many of the most successful companies today have roots in the crowdfunding community. With Crowdtivate, we aim to tap into a continuous source of innovative and creative ideas from local inventors, and ultimately help them grow as a future business or incorporate them into our service platforms."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

UK to explore legislation to make banks refer small businesses to alternative platforms

UK to explore legislation to make banks refer small businesses to alternative platforms

19 March 2014  |  7363 views  |  0 comments | 21 tweets | 28 linkedin
FCA sets out P2P lending and crowdfunding rules

FCA sets out P2P lending and crowdfunding rules

06 March 2014  |  5917 views  |  0 comments | 5 tweets | 13 linkedin
UK crowdfunding market raises £1700 an hour

UK crowdfunding market raises £1700 an hour

05 March 2014  |  3939 views  |  0 comments | 11 tweets | 8 linkedin
Iosco weighs in on crowdfunding oversight

Iosco weighs in on crowdfunding oversight

06 February 2014  |  4674 views  |  0 comments | 7 tweets | 2 linkedin
Crowdfunding in the UK set to raise £1.6 billion in 2014

Crowdfunding in the UK set to raise £1.6 billion in 2014

13 December 2013  |  5533 views  |  0 comments | 10 tweets | 9 linkedin
EC explores crowdfunding action

EC explores crowdfunding action

03 October 2013  |  6084 views  |  0 comments | 5 tweets | 3 linkedin
Barclays crowdsourcing site asks customers for better banking ideas

Barclays crowdsourcing site asks customers for better banking ideas

17 September 2013  |  14542 views  |  4 comments | 18 tweets | 19 linkedin
Westpac to crowdsource ideas for new banking apps

Westpac to crowdsource ideas for new banking apps

24 July 2013  |  6116 views  |  0 comments | 11 tweets | 4 linkedin
Bank economists warn of disruptive threat from mobile and crowdfunding

Bank economists warn of disruptive threat from mobile and crowdfunding

04 July 2013  |  47298 views  |  0 comments | 70 tweets | 18 linkedin
ING Direct backs Oz crowdfunding platform for social entrepreneurs

ING Direct backs Oz crowdfunding platform for social entrepreneurs

02 May 2013  |  6102 views  |  0 comments | 4 tweets | 2 linkedin
Crowdcube becomes first regulated crowdfunding platform

Crowdcube becomes first regulated crowdfunding platform

04 February 2013  |  8891 views  |  0 comments | 16 tweets | 4 linkedin
Kickstarter comes to the UK

Kickstarter comes to the UK

11 October 2012  |  5208 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
Visit contisgroup.comhttp://www.financialcrimerisk.fiserv.com/aml?r=finextraVisit capgemini.com

Top topics

Most viewed Most shared
Banks face big profit loss to digitisation - McKinseyBanks face big profit loss to digitisation...
13110 views comments | 82 tweets | 100 linkedin
Blockchain impact timeline speeds up, massive cost savings forecastBlockchain impact timeline speeds up, mass...
13057 views comments | 39 tweets | 32 linkedin
Seven banks plan blockchain platform for SMEsSeven banks plan blockchain platform for S...
10693 views comments | 44 tweets | 40 linkedin
Swift goes deeper into the blockchainSwift goes deeper into the blockchain
9327 views comments | 30 tweets | 42 linkedin
Accenture beats Brexit blues with largest-ever London startup programmeAccenture beats Brexit blues with largest-...
9098 views comments | 27 tweets | 20 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job