SPH Media Fund, the corporate venturing arm of Singapore-based media conglomerate Singapore Press Holdings, has launched a media and technology-focused accelerator that will accept its first cohort in mid-2015.
SPH has joined forces with accelerator Plug and Play and Infocomm Investments, a subsidiary of the country’s Infocomm Development Authority, to form the accelerator programme, dubbed Dubbed SPH Plug and Play.
The programme will select up to 20 startups addressing challenges of the media sector and will invest S$30,000 ($22,200) in each company.
Startups will be selected from across all media-related sectors, including advertising, e-commerce, marketplace, mobile, news and content distribution as well as public relations.
On top of funding, SPH Plug and Play will also offer access to mentors from both venture capital firms and media companies, provide training and give startups an opportunity to leverage Singapore Press Holdings’ intellectual property and resources. Infocomm will give the accelerator space at its Bash facility.
The programme will run for 10 weeks, after which the startups will pitch to Singapore-based investors invited by the accelerator’s three partners. Startups may also choose to remain at Bash for a limited time after the end of the programme.