Huawei announced its plan to invest US $100 million in startup support at the inaugural HUAWEI CLOUD Spark Founders Summit held in Singapore and Hong Kong.
Huawei said the investment would go towards its Spark Program in the Asia Pacific region, which aims to build a sustainable startup ecosystem for the region over the next three years. Huawei has been helping Singapore, Hong Kong, Malaysia, and Thailand build their startup hubs.
At the summit, Huawei also announced that this program 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.
Huawei launched its Cloud-plus-Cloud Collaboration and Joint Innovation Program, to further ramp up its support for startups around the world. Huawei will devote ongoing efforts and leverage its complete business portfolio in the cloud-plus-cloud collaboration space to foster technological innovation, global and local services, and business ecosystems, accelerating the growth of startups.