Investment firm Marvelstone announced today it plans to launch an artificial intelligence hub in Singapore next year.
The group wants to bring together AI professionals and governments, corporates, and academics to drive more AI technology to the market. The hub aims to incubate 100 AI startups per year and help connect them to investors and the greater community, and develop and commercialize intellectual property.
The company plans to follow the Singapore hub with others in Japan, Scotland, and Canada.
(Disclosure: Marvelstone is an investor in Tech in Asia. Please see our ethics policy for details.)
Marvelstone claims its new AI hub will be the “largest in the world” by virtue of the number of AI startups and projects it wants to incubate.
Other AI-focused incubators in the region include SG Innovate in Singapore and Zeroth.ai in Hong Kong. Marvelstone hopes its connections and networks, as well as size of operations, will set its hub apart in the market.
“There is a clear need for a big playground for startups, entrepreneurs, and even corporates in the field of AI,” says Marvelstone group president Joel Ko. “Considering the high interest and demand for AI globally, there are still relatively few places to test these new technologies. Our goal will be to build 100 AI startups per year and attract global AI talent to come to Singapore to incubate their own applications and collaborate with our local teams.”
Marvelstone is most known in Singapore for Lattice80, a 30,000-square-foot fintech-focused working space in Singapore’s central business district. Lattice80 has evolved into an international fintech hub, clinching partnerships around the world, organizing events, and incubating startups and investors. It recently expanded into India, with a hub opening in Vizag.
Marvelstone announced in late 2015 that it planned to incubate 10,000 startups in the next seven years through a number of initiatives.
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