DI Group, a Belgium-based group of small-to medium-sized businesses, has launched a hardware startup accelerator programme called HaxAsia in conjunction with Asian Investors IncuVest, Ruvento and SpinUp Partners, according to Tech In Asia.
Operating out of the Singapore government-linked IDA Labs co-working space, the programme will be geared towards startups focused on hardware 2.0 and the internet of things.
Enrolled startups will be expected to launch a campaign on crowdfundin site Indiegogo within six months of entering the programme. If the applicants successfully complete a crowdfunding campaign and reach the $500,000 desired goal, and they decide to be based in Singapore, then HaxAsia will invest up to $500,000 to continue scaling their business.
HaxAsia intends to utilise the resources of its investor group to help the startups get a working prototype, and to iron out any common crowdfunding mistakes before their campaigns are launched.