Facebook chooses Singapore for second data innovation startup program in the world

“Asia Pacific is incredibly important to Facebook. Out of the 2.2 billion people who are on our platform monthly, 894 million are here in Asia Pacific. Economies are in the midst of a digital transformation, and there is a tremendous push for technological innovation and entrepreneurship,’ said Dan Neary, vice president of Asia Pacific at Facebook.

“We are excited to be part of this journey - working with partners across the region to invest in programs, opportunities and people that create a positive impact in their communities.”

The program will offer startups access to global industry leaders, Facebook experts and mentors, opportunities to network with regional venture capitals and investors via demo day at the end of the program, and they will be invited to join Facebook’s startup alumni program that will connect them to a global network of startups.

The training will be provided Rainmaking, a global cooperative of entrepreneurs and Facebook will provide training modules in short, intense sprints to help startups advance and mature their businesses at a newly-created co-working space.

Startups can also tap in to Facebook programs and resources like FbStart, a Facebook global program designed to help them build and grow with access to free tools and services. IMDA will also help startups to develop new approaches and innovative ideas using data in a live environment through a regulatory sandbox.

“We are happy to work with industry partners such as Facebook who will help enrich our start-up ecosystem by bringing its expertise in key Digital Economy areas such as Artificial Intelligence, product innovation and data protection with a global approach,” said Tan Kiat How, chief executive officer at IMDA.

“Coupled with our strong push to develop data collaboratives and data sharing frameworks, this ensures that Singapore continues to be an attractive location for start-ups to site their data-driven projects, test innovative ideas, develop solutions and springboard into new markets.”