Telkomsel launches USD 40 million start-up accelerator fund

Wednesday 15 May 2019 | 10:41 CET | News

Indonesian operator Telkomsel has launched a USD 40 million star-up accelerator fund. The money will be invested by Telkomsel, its MDI Ventures unit and Singtel Innov8, the corporate venture capital arm of Telkomsel’s parent company Singtel. The project also includes the creation of a Telkomsel subsidiary called ‘Telkomsel Mitra Inovasi (TMI)’. This new unit will lead investments and manage synergies and collaboration between Telkomsel's various business units.

Back in 2015, Telkomsel launched the NextDev accelerator program designed to help local startups grow their business. Telkomsel reports that NextDev supported 5,000 startups from 20 cities throughout Indonesia.

In 2018, Telkomsel also introduced its ‘Internet of Things’ Innovation Center to accelerate growth of Indonesia’s IoT ecosystem. The Center provides IoT labs and bootcamp programs for startups, developers and system integrators.

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Categories: Mobile & Wireless
Companies: SingTel / Telkomsel
Countries: Indonesia
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