Hewlett Packard Enterprise to launch Singapore incubator
Hewlett Packard Enterprise (HPE) will launch an incubator program in collaboration with Singapore’s Economic Development Board (EDB) as part of plans to invest $140 million in the city state over the next five years.
HPE, a software spin-off from the US computer hardware and information technology giant, announced the plan at the opening of its new Asia Pacific headquarters in Singapore, presided over by CEO Meg Whitman.
The incubator program, known as InnovateNext, will run for three years and support 12 start-ups identified through local university partnerships as well as developing 10 industry-specific products with enterprise customers. The goal is to help commercialize solutions across areas such as manufacturing, distribution, financial services, communications, media and entertainment, and the public sector.
Participating start-ups will have access to HPE’s technologies and expertise. They will also be showcased in the company’s customer engagement centers around the world in order to increase awareness of the products created. GridComm, a Singapore business that is developing smart street lighting systems based on real-time data collected through sensor networks, is the first the program’s first member.
“With our new InnovateNext program, HPE will now be able to provide our best-in-class technology and global partner ecosystem to promising technology startups in Singapore to help them turn ideas into commercially viable enterprise technologies solutions they can offer to prospective customers,” Whitman said in a statement.
Earlier this year, HPE and the corporate investment arm of EDB both took part in a $21.5 million Series C round for US-based IT company Hedwig with a view to supporting Asian expansion.
Singapore has emerged as an attractive environment for establishing incubators. Last month DeClout, a holding company focused on developing IT and cloud computing technology providers, launched an incubator. The program is also supported by Startup SG, an accelerator operated by the Singapore government’s emerging industries development agency, Spring Singapore.
Other recent incubator announcements include Insurance Group Australia’s Firemark Labs and PayPal’s Start Tank, both of which are focused on the financial technology industry.
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