Telstra-backed startup accelerator, muru-D, has launched in Singapore, with a work space based in Amoy Street. It is among the latest batch of business accelerators choosing to establish itself in the city-state. From May 2015, it will begin accepting applications for 10 technology startups from across Southeast Asia, which will be recruited for the inaugural six-month accelerator program that begins August 2015.
Successful applicants to their programme will receive S$40,000 ($30,000) in seed capital, work space in muru-D Singapore’s central business district office and introductions to world-class mentors, coaches and investors. Annie Parker, co-founder of muru-D, explained that Singapore was the ideal location for its second startup accelerator, that follows the successful launch of its first accelerator in Sydney in October 2013. Its first nine Australia-based startups have already attracted more than S$3.15 million (AU$3 million) in follow-on funding.
Parker noted “With its fast-developing startup ecosystem, pro-business policies and access to local capital, Singapore offers entrepreneurs a tremendous launch pad into Southeast Asia, which has a burgeoning population of more than 600 million people and GDP in excess of SGD$2.4 trillion. muru-D will help accelerate technology innovation throughout Southeast Asia and we look forward to not only attracting the best digital talent but, critically, creating the right conditions for their long-term success.”
muru-D is a growth business under the Telstra Software Group (TSG) – led by Charlotte Yarkoni, the other co-Founder of muru-D. The Singapore accelerator program grow’s TSG’s global footprint. This follows in the wake of recent acquisitions and the formation of strategic partnerships across Asia-Pacific, Europe and the United States, including the acquisition of Silicon Valley-based video delivery platform Ooyala.
Dr Alex Lin, Head of Infocomm Investments – a wholly-owned subsidiary of the Infocomm Development Authority of Singapore – said muru-D’s entry into in the startup ecosystem was a positive addition to the the city-state’s growing pool of scalable technology companies.
Lin stated “We strongly believe the accelerator model is the best way to help high impact tech startups mature in the shortest possible time. It is strategic that Telstra is investing valuable corporate resources to support muru-D’s expansion, leveraging business and innovation opportunities throughout Singapore.”
muru-D’s Singapore edition will be headed by the team of Joseph Ziegler, entrepreneur-in-residence, and Jamie Camidge, head of strategic partnerships & alliances. Ziegler has more than 20 years’ experience in building and exiting startups around the globe, while Camidge is an experienced corporate strategy executive at Telstra.
Kiren Kumar, director of Infocomms & Media at the Singapore Economic Development Board, welcomed the launch of muru-D in Singapore. Kumar and said Telstra’s strong and reputable brand name, together with Singapore that is known as the digital innovation capital of Asia, would draw technology entrepreneurs and startups from across the region.
Kumar commented “We are pleased that muru-D has chosen Singapore to house its second accelerator. We look forward to continuing to work closely with Telstra to build even more digital businesses across Singapore, while supporting the ongoing growth of Telstra’s business throughout Asia.”