Singapore has been quite a home away from home for many Indian startups including Flipkart, InMobi, Grofers, Droom, Grey Orange, Crayon Data etc., that have registered themselves in Southeast Asia’s financial hub — Singapore. While many startup funds as part of their support offered to startups in which they invest help companies expand overseas but perhaps none in a structured format of an accelerator programme in partnership with a foreign government.
The Hyderabad-based early-stage fund-cum-support network, which helps pre-series A startups scale to series A and B stage in 12-24 months, has tied up with the Singapore government to allow 15 startups globally get access to the Asian market through a six-month, zero-fee accelerator programme to mentor, refine their business model, and go-to-market strategies.
The chosen startups for the programme — A-Scale has been picked from India, Singapore, Israel and the US, will also receive $1 million fromAnthill Ventures along with an additional $20 million syndicated “smart capital” through the fund’s network of co-investors.
“We look at problem areas or areas ripe for disruption that the government wants to solve and we engage startups to solve them through their unique technologies. While we invest in them but we also bring them to such large market access channels. Singapore government wanted us to help their startups as well to access India market or other startups to access Southeast Asian markets,” Anthill Ventures Founder and CEO Prasad Vanga told Financial Express Online.
Anthill has partnered with Enterprise Singapore — a statutory body under Singapore’s Ministry of Trade and Industry that helps enterprises grow along with working towards making Singapore as a global hub for startups and trading.
15 startups part of A-Scale will leverage Anthill’s “networks, knowledge and funding” to scale from “Singapore into Southeast Asia, India and beyond,” said Edwin Chow, Assistant Chief Executive Officer, Enterprise Singapore.
Singapore government has partnered with Anthill as “they need the private sector to be very active” even as there would be more than 100 global experts across areas and over 50 corporate partners to support startups, said Vanga.
The chosen startups belong to media-tech, health-tech and those focusing on urban lifestyle and smart cities, added Vanga.
Startups chosen from India includes virtual travel platform QuaQua, workflow management AI platform Grene Robotics, adtech startup AdOnMo, live sports engagement app Rooter, and smart-grid technology startup Zerone.