Crowdfunding may be set to take off in a big way in Singapore as local telecommunications provider StarHub announced during Crowdsourcing Week that it is set to launch Crowdtivate, an open crowdfunding platform which entrepreneurs and creative professionals can seek funding and obtain financial contributions from supporters around the region via a funding system in return for specific rewards.
To be launched by StarHub i3 – StarHub’s own incubator for technological innovations and digital initiatives – together with its partner, Crowdonomic, a crowd-powered technology solutions and strategic advisory firm based in Singapore, Crowdtivate like many crowdfunding platforms such as Indiegogo and Kickstarter offers fund seekers a way to create awareness of or gather feedback on their ideas or works. It also allows potential 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.
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.
“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. With Crowdtivate, we aim to tap into a continuous source of innovative and creative ideas from local inventors, and ultimately help them grow as a future business or incorporate them into our service platforms,” said Mr Stephen Lee, StarHub’s Head of i3 (Innovation, Investment, Incubation).
Crowdtivate is currently in closed beta, but interested parties can sign up for an invitation code to enter the platform.