In 2012, Edgar Hardless took over as chief executive of SingTel Innov8, the corporate venturing unit of the Singapore-based telecoms company, from Yvonne Kwek but since then he has made the role his own.
Kwek was the first chief executive of the unit after it was set up with an S$200m fund ($150m) in 2010, subsequently increased to S$250m. Hardless stepped up to the role from his position as vice-president of strategic investments, held since 2008, and an earlier role held for two years as head of Singtel’s first open innovation unit, focused on identifying emerging technologies.
Innov8 has had 13 exits from its 40 investments, including the sale of US-based Maker Studios to Disney for $500m, Rakuten buying Viki for an undisclosed amount, and the flotations of Ruckus Wireless and Arista Networks on the New York Stock Exchange and MobileIron on Nasdaq.
And while Innov8 is a noted venture investor, focused on network capabilities, next-generation devices, digital content services and enablers to enhance customer experience, this open innovation skillset has helped Hardless.
In September, Innov8 was part of a consortium of peers – Deutsche Telekom’s Hubraum, Orange Fab and Telefónica Open Future – that formed an alliance, subsequently called Go Ignite, to connect startup ecosystems across Asia, Africa, Europe, Latin America and the Middle East by inviting participation in five categories – internet of things, cybersecurity, big data analytics, content delivery and customer experience enhancement.