E-commerce firm Rakuten has partnered accelerator operator Techstars to launch an accelerator in Singapore for companies developing social messaging technologies.
The vehicle, dubbed Rakuten Accelerator, Powered by Techstars, will be particularly interested in companies working with Viber, the instant messaging and voice communication app Rakuten acquired for $900m in 2014.
The initiative is open to early-stage startups developing a range of technologies including artificial intelligence, chatbots and chat-based commerce, cryptocurrency, virtual reality and augmented reality, advertising technology, and voice and image recognition.
Participating startups will each receive a $120,000 investment. The program will commence in July 2018, with applications opening in January, and will last for three months.
Approximately 10 participants will be admitted, and will be mentored by industry experts provided by Techstars. They will also be able to access resources from Rakuten’s global ecosystem, including the opportunity to integrate technologies with Viber.
Hiroshi Takasawa, head of Rakuten’s investment arm, Rakuten Capital, said: “We are thrilled at the opportunity to share our business and technical expertise with the disruptive innovators of the future.
“Together with Techstars, an organisation with a remarkable track record for developing startup talent, I am very optimistic that we can strengthen the Rakuten global ecosystem and advance the culture of open innovation.”