123Jumpstart is a platform recently launched by the Singapore infocomm Technology Federation (SiTF) that aims to grow and nurture the country's start-ups.
In a statement released on 30 August, the SiTF stated the need to grow local startups as the basis behind the introduction of the platform.
"Entrepreneurs are tapping more and more on ICT in all aspects of the business cycle. They develop new business models or products from the ground up; and rely on the Internet, application stores or IT devices to reach global markets", said Senior Minister of State for Information, Communications and the Arts Lawrence Wong.
Working together with various government agencies, venture capitalists, investors and IT organisations, SiTF aim to make 123Jumpstart a resource hub for startups to acquire mentorship, training, funding, test beds, IP and market launch.
"The 123Jumpstart platform will help build critical skills for success in startups", Wong said.
The platform is spearheaded by SiTF councilor and CEO for Clozette Roger Yuen, who stated that Jumpstart123 has already secured close to S$2million (US$ 1.6million) worth of committed funds.
A start-up that has tasted the Jumpstart123 platform is cloud IT service management company Nubefy, which won an investment challenge for its Nubefy Cloud Management project with a sum of S$1million (US$ 800,000). The company won the award at the SiTF Awards on 30 August. The money was garnered from industry players.
Through 123Jumpstart SiTF hopes to improve the success rate of start-ups and to spawn more achievements in this scene.
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