Huawei to invest USD 100 million in Asia Pacific startup ecosystem over 3 years

During the Huawei Cloud Spark Founders Summit, the company stated that it is going to invest USD 100 million in the Asia Pacific startup ecosystem.

Huawei pledges to invest USD 100 million in the Asia Pacific startup ecosystem

Asia Pacific startup ecosystem to get a boost from Huawei

Huawei stated that the USD 100 million investment will go towards its Spark Program in the APAC region that includes the Philippines. This will be in its efforts to create a sustainable startup ecosystem in the region in the next three years.

In terms of startups, Huawei has been helping Singapore, Hong Kong, Malaysia, and Thailand build their startup hubs. Four more hubs have been announced during the summit that will be located in the Philippines, Indonesia, Sri Lanka, and Vietnam. It aims to recruit a total of 1,000 startups into the Spark accelerator program. 100 of these startups will be turned into scaleups.

Huawei also launched its Cloud-plus-Cloud Collaboration and Joint Innovation Program. These aim to further ramp up its support for startups around the world. Huawei will dedicate ongoing efforts and leverage its complete business portfolio in the cloud-plus-cloud collaboration space to support technological innovation, global and local services, and business ecosystems, accelerating the growth of startups.

There are also three additional initiatives were launched under the Asia Pacific Spark Program. First, there's the Spark Developer Program designed to nurture a developer ecosystem and will be powered by Huawei Cloud.

There's the Spark Pitstop Program that is designed to onboard and support startups on Huawei Cloud to accelerate product development. Lastly, the Spark Innovation Program or SIP will be focused on facilitating enterprise innovation through the Spark startup ecosystem.

What do you guys think?