SingTel, a Singapore-based phone operator, has opened its forth incubator in Israel set up in partnership with local software provider Amdocs.
The incubator is part of a development centre to invest in Israeli start-ups, fund academic and research institutes and collaborate with other incubators and angel investors.
SingTel L!feLabs are now located in Israel, Singapore, Boston and Silicon Valley, California.
The phone operator also manages a S$200m ($160m) corporate venturing fumd, Innov8, while the Regional Seed Network (RSN), Optus-Innov8 Seed Program in Australia, Kickstart Ventures in the Philippines, and AIS the Startup in Thailand are an alliance of early stage incubation programs operated by various members of the SingTel Group.
Allen Lew, chief executive of SingTel’s group digital life, said: “We have been extremely satisfied with the wealth of talent in Israel. We experienced this through our recently acquired global mobile advertising company Amobee, which [was the corporate venturing exit of the year last year and] has a technology centre in Israel, as well as through our venture capital investments in two Israeli companies in the mobile internet business.”