You are here

Singapore Power in tie-up for accelerator programme in energy sector

Thursday, February 25, 2016 - 11:53

SINGAPORE has established what is believed to be Asia's first utility-led accelerator programme.

Singapore Power (SP) and Infocomm Investments Pte Ltd (IIPL) on Thursday introduced Spark Accelerator Pte Ltd, a joint venture to discover and accelerate startups in the energy sector.

Spark will invest up to S$4 million to groom some 30 startups - or S$30,000 in each startup (in return for a 6 per cent equity stake) - and provide them with complimentary working space at Bash, an integrated startup space located at the JTC LaunchPad @ one-north.

Through Spark, startups can leverage the industry expertise and network of SP, and the venture capital ecosystem of mentors and investors of IIPL, said both partners.

Market voices on:

The accelerator programme, which opens for applications in Q2 2016, aims to develop innovative solutions to meet the "future energy needs of customers", across key areas such as energy efficiency, mobility, cybersecurity and on-demand customer services.

Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at

Powered by GET.comGetCom