Singapore's U2opia Mobile to invest $3 million in startups programme

In a move to boost innovation in mobile, Singapore headquartered mobile technology company U2opia has launched Catapult Programme to help startups grow by investing $3 million (nearly Rs 19.95 crore) in over three years.

The programme has invited early-stage startups and entrepreneurial teams focused on innovation in scalable mobile technology.

"The Catapult programme aims to give entrepreneurs a chance to work on their dream projects, get the needed support and also get a chance to leverage on U2opia mobile`s existing global network," Sumesh Menon, Co-Founder and Managing Director at U2opia Mobile said in a statement.

Under this programme, all teams will be given access to technology infrastructure, working space, brand and marketing support, management and financial cover, along with a chance to leverage on U2opia mobile's global reach.

To qualify for the programme, entrepreneurial teams need to have a product that has global focus, a proven history of user traction, a validated plan for user growth and should be within two years in business. 

Once the teams apply, shortlisted/selected teams are taken under the programme and will be incubated and supported for a period of six months. The early traction and momentum for these teams will determine the next course of growth.