PlanetSpark launches innovation centre

It is the first hardware-targeted accelerator for Artificial Intelligence of Things innovations.

PlanetSpark has announced the launch of an innovation centre dedicated to supporting Singapore tech startups speed up market deployment.

Opened by Trade and Industry Minister Chan Chun Sing, the innovation centre is the first hardware-targeted accelerator for Artificial Intelligence of Things innovations.

Supported by Enterprise Singapore and mainboard-listed electronics components distributor Excelpoint Technology, PlanetSpark will invest an initial $5m to expand the centre’s engineering capabilities and develop technology platforms. It has secured a lineup of five startups for its upcoming pilot run of accelerator programme.

The centre will also offer a one‐stop ecosystem that brings together innovators, hardware and software providers, venture capitalists, small and medium enterprises, manufacturers, and potential customers.

“Our ultimate objective is to have a collaborative hardware ecosystem where such start‐ups can accelerate their growth and commercialisation plans, attract venture capital funding and create new possibilities for local technology innovations and economic growth,” PlanetSpark managing director Phuay Li Ying said.

PlanetSpark is the entrepreneurial and investment arm of Excelpoint Technology.