Singapore

U2opia Mobile introduces Catapult Program, plans to invest $3 million in startups

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Singapore-based mobile technology company, U2opia Mobile, launches Catapult program to help startups in India. The program is aimed to bring together self sufficient and independent entrepreneurial team that fits with U2opia mobile’s bussiness innovation. The company will invest $3 million in startups over period of three years .

Launched in 2011, U2opia Mobile introduces Catapult accelerator programme, which will be based in the Gurgaon office of U2opia, with focus on startups in the telecom, mobile ad-tech, utility apps and mobile gaming space. To qualify for the programme, entrepreneurial teams need to have a product that has a validated plan for user growth, global focus, a proven history of user traction, and should be within two years in business. The objective is to help early-stage startups and entrepreneurial teams focused on innovation in scalable mobile technology.

The Catapult programme aims to give entrepreneurs a chance to work on their dream projects, get the needed support and also get a chance to leverage on U2opia mobile’s existing global network.

Sumesh Menon, Co-Founder and Managing Director at U2opia Mobile said in a statement.

Under this program, five to six teams each year will be given access to state of the art technology infrastructure, ample working space, brand and marketing support, management and financial cover, with a chance to leverage on U2opia mobile’s global reach in over 60 countries. After the application process, shortlisted startups will be incubated and supported for a period of six months.

U2opia Mobile is supported by leading investors Matrix Partners and Omidyar Network. Last year, U2opia launched dating app Woo in India. Earlier this year, it had launched Foneverify, a mobile authentication solution that verifies users in real time.

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