11 December 2018 | News
Each selected participant will be provided with accommodation, investment and a stipend while in Hong Kong
Stan Group (Holdings) Limited has announced that it is collaborating with Jumpstart Media Limited to launch The STILE Initiative.
The STILE Initiative is a residential incubation program for startups in Asia Pacific. It is the only programme in region that provides accommodation, office space, and investment for startups. It is the first programme to introduce a conditional follow-on funding scheme for high-performing incubatees who meet growth expectations after completing the programme.
Stan Group manages more than 30 respected brands across property, hospitality and catering services, telecoms and advertising, financial services and social innovation development.
By leveraging this portfolio, a maximum of seven startups - selected through Jumpstart's platform from 11 cities in Southeast Asia and Australia will be accepted into each cohort.
Each selected participant will be provided with accommodation, investment and a stipend while in Hong Kong. One startup will be selected from each city to ensure that incubatees come away with a diverse network of peers from around the region.
The intensive four-month programme will be customized to address each startup's industry, pain points and stage of growth. Dedicated mentors will guide participants through the programme. Stan Group's associated business units and corporate partners will provide opportunities for startups to take on contracts and accumulate real-world proof of concepts and revenue.
Stan Tang, Chairman of Stan Group said, "In alignment with the Group's dedication to supporting entrepreneurial development within our communities, as well as propagating entrepreneurial spirit among the public, The STILE Initiative has been designed to foster engagement between corporations and entrepreneurs. The aim is to drive the development of innovation within Hong Kong's startup community, and stimulate the development of new industry solutions across the board."
The STILE Initiative is recruiting startups in the region around the sectors of Hospitality, Real Estate, F&B, Media & Communications, and Financial Services, although promising early-stage ventures in any industry will be considered.
It is preferred but not required for applicants to provide a tech-based solution.