Huawei to invest $100 million to boost start-up ecosystem over next 3 yrs

Chinese telecom gear maker Huawei on Tuesday announced that it will invest $100 million in Asia pacific start-up ecosystem over next three years.

Chinese telecom gear maker Huawei on Tuesday announced that it will invest USD 100 million in Asia pacific start-up ecosystem over next three years.

The company plans to expand Spark Program to India after Covid-19 pandemic situation eases in the country, a senior official of the company said.

Huawei Asia Pacific vice-president Jay Chen said that the company has started this programme in Singapore and has thereafter, expanded it to other APAC economies like Thailand, Sri Lanka, and Malaysia.

"We are investing in these startup ecosystems and providing them with an open and collaborative ICT ecosystem. India is a very important country for Huawei. It has a good economic environment and a hardworking talent pool. As the pandemic situation eases, we have plans to expand the scope of this initiative to support the robust startup ecosystem of India," Chen said.

Huawei has been contributing in Singapore, Hong Kong, Malaysia, and Thailand to build their startup hubs.

At the Huawei Cloud Spark Founders Summit held on Tuesday, Huawei also announced that this programme would focus its efforts on developing four additional startup hubs in Indonesia, the Philippines, Sri Lanka, and Vietnam with the overarching aim of recruiting a total of 1,000 startups into the Spark accelerator program and shaping 100 of them into scaleups.