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STB's New Accelerator Will Fund Tourism Startups Up To S$25K - Open To Local And Intl Firms

Looking to disrupt the tourism industry in Singapore with your startup?

The Singapore Tourism Board (STB) on Friday (21 June) announced the Singapore Tourism Accelerator, formerly named the Singapore Tourism Incubator at the 2019 Tourism Industry Conference.

STB is now calling for local and international companies to join the Accelerator.

It’s a two-year pilot programme that aims to help companies develop solutions to long-standing issues, as well as develop new ideas that will transform the tourism sector.

The programme targets startups that are already at the prototyping or business development stage, as well as those that have piloted a breakthrough solution in another city and are looking to scale their solutions in Singapore and Asian markets.

With the Accelerator’s appointed partner, Found8, STB will select startups to participate in the programme.

Companies must already have prototype solutions or have piloted their solutions elsewhere to qualify for the programme.

The first batch of 12 companies will begin on the programme in October at STB’s premises, with each batch attending the process for six months.

Companies will go through workshops and informal sharing sessions that help refine and adapt their solutions to suit Singapore’s tourism sector during the first stage of the Accelerator.

They’ll also work with established firms like Expedia Group, Sentosa Development Corporation, SingEx Holdings, Singapore Airlines, and Marina Bay Sands.

The solutions will be evaluated by a panel of industry members at the end of three months.

Selected companies will advance to the next stage where they’ll receive funding support of 70% of qualifying costs, up to $25,000 per company, to test their solutions with an industry partner.

The programme will end with a showcase, where companies pitch their business plans to industry stakeholders and investors.

STB hopes to find innovative industry solutions that can enhance the overall visitor experience.

Application is now open and interested companies can apply through this link by 1 August 2019.

For more information, check out the website here.

Featured Image Credit: Vocalise Singapore

 

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