Huawei to invest US$100 million in Asia Pacific startup hubs

Huawei has announced a new initiative through which it will pour US$100 million in funding and supporting new startups in Asia. The firm made the announcement at the inaugural HUAWEI CLOUD Spark Founders Summit, which was held simultaneously in Singapore and Hong Kong. 

According to Huawei, the investment would be disbursed through its Spark Program in the Asia Pacific region, an initiative targeted at building sustainable startup ecosystems within the region over the next 3 years.

Through the program, Huawei is already providing great support to countries like Hong Kong, Malaysia, Singapore, and Thailand as they all work to set up their startup hubs.

Now, the firm will add four more startup hubs in Indonesia, the Philippines, Sri Lanka, and Vietnam. The goal of this is to bring together 1,000 startups and take them through the Spark accelerator program, developing 100 of those into scaleups.