One of Singapore’s telco, StarHub has just announced that it is launching a crowdfunding site called Crowdtivate, its online social launchpad aimed at helping local and Asia-based entrepreneurs and artists make their innovative ideas come true.
Crowdtivate is an open platform for entrepreneurs and artists to obtain financial contributions from supporters around the region via a funding system in return for specific rewards.
For those unfamiliar with crowdfunding platforms, they feature projects and bring them to life through the direct support of people around the world. Anyone can easily create an online campaign featuring what project they are working on, and raise money from people globally.
Tapping on the Crowdtivate platform, project and campaign owners are able to create awareness of or gather feedback on their ideas or works. Crowdtivate also allows supporters to easily discover and back new, cutting-edge products and services offered by these entrepreneurs or artists, and to support the project they most believe in.
Crowdfunding sites are not something new, and pioneers in this space include Kickstarter and Indiegogo. However, the concept is still pretty much new in Asia, although there have been a number of successful projects out of Asia, including The Buccaneer 3D printer which raised nearly $1.5 million.
With Starhub leading the way in supporting Crowdtivate, it is definitely a positive sign for makers and the creative industry in Singapore and Asia as a whole. Will it work? We are definitely hopeful, since Singaporeans are among top 10 pledgers of Kickstarter campaigns, and they are quite familiar with the whole concept, and are comfortable supporting crowdfunding campaigns.
More about Crowdtivate
Crowdtivate is co-managed by StarHub i3 and its partner, Crowdonomic, crowd-powered technology solutions and strategic advisory firm based in Singapore. Crowdtivate is currently open to entrepreneurs and artists to propose projects for crowdfunding. Interested parties can visit the website to request for an invitation code to enter the platform.
Crowdtivate will be open in May 2014 to supporters and backers to browse, view and fund projects they are interested in.
“Crowdfunding is an extremely popular way for the global community to connect with artists and entrepreneurs, and for them to participate in bringing great ideas to life. Many of the most successful companies today have roots in the crowdfunding community,” said Mr Stephen Lee, StarHub’s Head of i3 (Innovation, Investment, Incubation).
Crowdtivate accepts ideas or projects related to arts/books/films, technology and assistive technology. After an idea or project is accepted, Crowdtivate provides mentorship to create good campaigns, with options for support in business incubation and regional outreach.
In addition, the top three monthly Crowdtivate campaigns will receive exclusive assistance, including access to test users, marketing support, startup funding, free software development, invention development, and infrastructure support.