Mediacorp’s incubator program Mediapreneur has announced a strategic partnership with crowdfunding platform FundedHere to promote seed funding for digital media startups through the crowdfunding platform. Through this deal, Mediapreneur-supported startups will be listed on FundedHere, giving them a wider platform to attract capital.
Under the Mediapreneur incubator program, selected start-ups spend one year in incubation to become competitive high-growth companies. They accept teams at various stages of their innovation journey – from those with just an innovative idea to others who have built prototypes or gained customers. The incubator program will also connect FundedHere to other startups. Mediacorp’s Head of Strategic Planning, Guillaume Sachet, commented,
We are pleased that the first Mediapreneur startup we put on the Fundedhere platform was able to reach its fund raising target very efficiently. The platform works well for seed stage companies seeking capital before Series A. It certainly works for us and we expect to do more in the coming years following this successful partnership.
Launched in March 2015, FundedHere is a Singapore-based equity-based and lending crowdfunding platform targeting startups pin Southeast Asia and Greater China. It obtained its Capital Market Services License from Singapore’s Monetary Authority of Singapore, permitting it to deal in securities in March 2016 and began its operations in April 2016.
The association of both the entities has already helped advertising solutions company Spotted!, raise S$375K. Spotted! will utilize the funds to expand its business of turning digital advertisements into games to help advertisers better engage their target audience. FundedHere CEO, Michael Tee, said in an official release,
We are excited to collaborate with Mediapreneur to contribute to the growth of local entrepreneurs. FundedHere targets companies, like Spotted!, with compelling services and products that can solve real problems.
Launched in 2013, Mediacorp’s incubator Mediapreneur provides seed funding, intellectual property, mentoring, working space and networking opportunities for digital media startups. Startups supported by Mediapreneur also get regular guidance from mentors and can tap Mediacorp’s TV, radio, print and online platforms to reach customers. During the incubation program, startups are housed at Mediacorp Campus located within Mediapolis@one-north and receive seed funding of up to S$50K in exchange for a small amount of equity.