IoT Investments: SparkLabs Pour $100k in Startups

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IoT Investments: SparkLabs Pour $100k in Startups

SparkLabs Group, a network of startup accelerators and VC funds, has launched a new program focused on IoT Investments, smart cities, and proptech by the name of “SparkLabs Connex”.

The program aims to support startups working with key market drivers and tech enablers such as 5G monetization, sustainability, green building initiatives, low-power wide-area networks, eSIMs, AI, and security, according to a statement.
SparkLabs Connex unites the supply (startups) and demand (cities, technology vendors, enterprise customers and industry organizations) sides of the IoT, smart city and proptech ecosystems to accelerate access to innovation. The accelerator will invest in startups that address key market drivers, including 5G monetization, sustainability and green building initiatives, and leverage emerging technology enablers, such as 5G, Low Power WANs, eSIMs, artificial intelligence and security.
Charles Reed Anderson, founder of Singapore-based IoT and smart city advisory firm CRA & Associates, will lead the program as managing partner. He previously served as a senior advisor at McKinsey & Company and led IDC Asia Pacific’s mobility and telecoms practices.

My ambition is for SparkLabs Connex to become the innovation hub for the IoT, smart city and proptech ecosystems, and I’m excited with the quality and variety of partnerships we have signed at launch – and will sign in the future. SparkLabs Connex is more than an accelerator, it’s an ecosystem play, and we believe it creates a unique value proposition for startups, partners and investors,

explains Anderson.
SparkLabs promised to invest up to US $100,000 in each startup that will participate in the program in exchange for a 7% equity share, Anderson said. As a global accelerator, the company will be accepting startups from any location, but those selected must be in Singapore for the first session and the demo day.

This is basically an expansion of SparkLabs IoT and creating a better accelerator program with a wider mandate and stronger partnerships,

Anderson added.

Now it’s not just Songdo, South Korea, but Singapore, Taipei, and Darwin, Australia.

SparkLabs Group is a network of startup accelerators and venture capital funds that has invested in over 280 companies across 6 continents. It was awarded the Newsweek Momentum Award in November 2019, ranking it as one of the “Top 100 Smart City Partners” globally, and the only venture capital firm or accelerator included in the ranking.

Author: Tim Cole
Image Credit: SparkLabs Group

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