China-based technology company Huawei, on Tuesday, announced a US$100 million fund at the inaugural HUAWEI CLOUD Spark Founders Summit, held in Singapore and Hong Kong respectively to support the startup ecosystem.
The company plans to cultivate future talent through this series of initiatives in collaboration with 210 leading universities across the Asia Pacific region.
The funds will be used to support its Spark Program in the Asia Pacific region, which aims to create a sustainable startup ecosystem in the region over the next three years.
Zhang Ping'an, CEO of Huawei's Cloud Business Unit, stated that "Starting today, we are stepping up our support for startups through four new initiatives, aimed at cloud-plus-cloud collaboration, continuous tech innovation, global and local services, and high-quality business ecosystems. Half of the investment is coming from HUAWEI CLOUD, half from Huawei Mobile Services (HMS).
"In 2021, our plan is to support 200 startups in the HMS ecosystem and share our network of channel resources with developers worldwide who together serve 1 billion Huawei device users. In addition, we will open an HMS Developer Innovation Center to support 100,000 HMS cloud-native developers," he adds.
This program will also help in establishing four additional startup hubs in Indonesia, the Philippines, Sri Lanka, and Vietnam, with the overarching goal of recruiting 1,000 startups into the Spark accelerator program and transforming 100 of them into scaleups.
Huawei will use the cloud-plus-cloud collaboration space to foster technological innovation, global and local services, and business ecosystems, thereby accelerating startup growth.
Speaking on the development, Huawei Senior Vice President and Board Member Catherine Chen said, "Startups and SMEs are the innovators, disruptors, and pioneers of our times. 34 years ago, Huawei was a startup with just 5,000 dollars of registered capital."
Representatives from many prominent Asian startups, academia, various industries and governments, and the media, as well as more than 50 regional top venture capitalists and over 300 startup founders, attended this summit.
In addition, Huawei launched three other initiatives The Spark Developer Program, which aims to nurture a developer ecosystem powered by HUAWEI CLOUD in the Asia Pacific region; the Spark Pitstop Program, designed to onboard and support startups on HUAWEI CLOUD to accelerate product development; and the Spark Innovation Program (SIP), focused on facilitating enterprise innovation through the Spark startup ecosystem.
As the company move toward a fully connected, intelligent world, an increasing number of startups are pursuing end-to-end digitalization. HUAWEI CLOUD infrastructure collaborates with Huawei Mobile Services to support startups from a variety of industries. Huawei's cloud services enable developers and partners to consolidate accounts, development platforms, app distribution, and app operation.
According to the reports, Huawei has solid relationships with over 2,000 partners from across the Asia Pacific region, with ongoing initiatives to build support platforms in close collaboration with governments, top VC firms, and leading universities in Hong Kong and Singapore.