Singapore, 13 April 2015 – SPH Media Fund, Plug and Play andInfocomm Investments (“IIPL”) announced today the launch of the SPH Plug and Play media and technology-focused accelerator programme. This collaboration aims to build a strong pipeline of high growth, innovation driven tech start-ups to address challenges that the media industry will face.
SPH Plug and Play will invest S$30,000 in each start-up company selected to participate in the accelerator programme. The programme targets to admit up to 20 media tech start-ups within the next year across media sectors ranging from advertising, e-commerce, marketplaces, mobile, news and content distribution to public relations.
This collaboration brings together all three partners’ unique roles and strengths in Singapore’s ecosystem as a corporate VC fund, a global accelerator and a government investment arm, bonded by a common goal to build and grow digital media start-ups with high global potential and strong capability to transform the media sector.
SPH Plug & Play will provide the selected start-ups with mentorship from domain experts from venture capital and media industries. The start-ups will also receive training and enjoy opportunities to leverage on SPH’s vast intellectual property and resources. In addition, there will be valuable opportunities to network with industry stakeholders and potential investors.
Mr. Chua Boon Ping, CEO, SPH Media Fund, said: “As Asia’s leading media company, it is part of SPH’s long term strategy to invest in innovative digital media companies, in particular those that could create synergies with SPH’s existing businesses. SPH Media Fund is delighted to work with Plug and Play as well as Infocomm Investments in creating this accelerator programme that would identify young companies with great potential and nurture them into strong and sustainable businesses.”
Mr. Saeed Amidi, Founder and CEO, Plug and Play, said: “We are very excited to partner with SPH and Infocomm Investments to launch the SPH Plug and Play Accelerator in Singapore. The media landscape is changing and there are unlimited opportunities across the entire media value chain for startups to innovate. We have been part of the journey of many successful startups that have transformed industries and we hope to find the next big idea through this partnership and work together with aspiring entrepreneurs to accelerate their success.”
Dr. Alex Lin, Head of IIPL, said: “With the rapid digitization of information and media content and the ubiquity of mobile devices and high-speed internet access, we see a blurring of lines between our ICT and media sectors. This convergence is an opportunity not to be missed, and it’s timely that IIPL, SPH Media Fund and Plug and Play have come together to ride on this wave. As Singapore builds itself into a Smart Nation, it is imperative for us to groom promising tech start-ups with the foresight to seize these new opportunities to innovate. The accelerator model is definitely the way to go to achieve this.”
IIPL will also provide the acceleration space at its start-up facility, BASH (Build Amazing Start-ups Here) at Block 79 Ayer Rajah Crescent for SPH Plug and Play to run its programme. At the end of the 10-week programme, the start-ups will pitch their products to a group of active investors in Singapore brought together by the three partners. It is believed that start-up teams that have undergone acceleration will be better placed to attract funding, which will help further grow their products to the next stage.
Start-up companies that have undergone acceleration may also choose to stay on for a short period of time at BASH to continue building their product and business under the mentorship of IIPL and other ecosystem partners.
Start-up teams who are keen to apply for the SPH Plug and Play programme can do so at www.sphplugandplay.com. The first run of the 10-week programme is targeted to commence around middle of this year.
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For more information, please contact:
Mr Jupe Tan
Vice President, International Operations
Plug & Play
HP: +65 9680 3736 (SG) +1 (408) 499-7429
Mr Adrian Cheong
Corporate Communications & CSR
Singapore Press Holdings
DID: 6319 2261
HP: 9798 6097
Ms Teresa Tan
Corporate & Marketing Communications
IDA / IIPL
DID: 6211 1745
HP: 9661 4836
SPH MEDIA FUND
SPH Media Fund is the corporate venture capital fund of Singapore Press Holdings Ltd (“SPH”) with a fund size of S$100m.
SPH Media Fund has a global mandate and seeks to invest in early-stage innovative companies in the areas of Digital Media (including advertising technology and content aggregation/ distribution/ consumption) and Consumer Internet (including e-commerce, marketplaces, social media, education technology, financial technology, etc).
Singapore Press Holdings Ltd is Asia’s leading media organisation. Incorporated in 1984, SPH is listed on the Singapore Stock Exchange and is in media, online classifieds, properties, events and out-of-home advertising as well as other businesses.
PLUG AND PLAY
Plug & Play is a global startup accelerator that specializes in growing high tech startups. Headquartered in Silicon Valley, Plug & Play’s network includes over 200 corporations, investors, universities and other partners across verticals such as Retail, Fin-Tech, Internet of Things, Media and Cloud. Through our investment arm, which began as Amidzad Partners in 1998 and is now Plug & Play Ventures, we have invested in over 350 high tech startups globally.
Managing more than US$200 million, Infocomm Investments builds and invests in startup companies in Singapore and globally. We accelerate the development of these young companies in their formative phase, and invest further as they move towards growth and expansion. Partnering leading startup accelerators globally, we scale up accelerator programmes in Singapore to build a strong pipeline of high quality startups ready to go for global expansion. Our interests: Technology, Software, Internet and everything in between. For more news and information, visit www.infocomminvestments.com or follow @iipl.
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