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Successful candidates will also receive access to business workshops, mentoring and coaching support and business opportunities with Singtel and its regional mobile associates

Singapore-based telco Singtel has announced the launch of its new social impact initiative Singtel Future Makers.

The six-month programme aims to nurture new social startups and help them grow their businesses. Up to seven successful candidates stand to receive up to S$20,000 (US$14,800) in funding each. The initial S$10,000 (US$7,400) will be disbursed at the beginning of the programme upon confirmation of participation.

They will also gain access to other non-monetary benefits such as business workshops, mentoring and coaching support from industry experts, networking opportunities, as well as commercialisation opportunities with Singtel and its regional mobile associates.

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Singtel does not take any equity and royalty from the startups as its only goal is to foster social innovation in the region.

There are no geographical restrictions for the startups; but their solutions have to have a focus on Singapore as well as the region. Pitching can be done in person or via video conferencing. All successful candidates are, however, required to be physically present in Singapore for the whole duration of the programme.

“Social impact startups want to bring about meaningful and impactful change to society. However, roadblocks in funding support, lack of experience in commercialising business ideas sustainably, and missed partnership opportunities can often hamstring even the best idea. Through Singtel Future Makers, we want to play a part to help them turn their ideas into reality,” said Andrew Buay, Singtel Vice President of Group Corporate Social Responsibility.

Applications for the Singtel Future Makers will end on 14 August 2016.

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