Mediapreneur and FundedHere have formed a strategic partnership to provide seed funding for media-related startups through FundedHere’s crowdfunding platform. The two companies stated that through the partnership, Mediapreneur-supported startups would be listed on FundedHere, which is expected to give them a wider platform to attract capital.
The duo also said that while Mediapreneur will put seed-stage media companies through a one-year structured incubation program, it will also connect FundedHere to other startups. Currently, the collaboration between FundedHere and Mediapreneur has already helped one company, Spotted!, secure S$375,000. The startup plans to use the funds to expand its business of turning digital advertisements into games to help advertisers better engage their target audience.
FundedHere CEO, Michael Tee, stated:
“We are excited to collaborate with Mediapreneur to contribute to the growth of local entrepreneurs. FundedHere targets companies, like Spotted!, with compelling services and products that can solve real problems.”
Mediacorp’s Head of Strategic Planning, Guillaume Sache, added:
“We are pleased that the first Mediapreneur startup we put on the Fundedhere platform was able to reach its fundraising target very efficiently. The platform works well for seed stage companies seeking capital before Series A. It certainly works for us and we expect to do more in the coming years following this successful partnership.”
Mediacorp’s incubator program, Mediapreneur, currently provides seed funding, intellectual property mentoring, working space, and networking opportunities for digital media startups.
FundedHere is a Singapore-based equity and lending crowdfunding platform targeting start-ups in Southeast Asia and Greater China. FundedHere has a Capital Market Services License from the Monetary Authority of Singapore. FundedHere went live on April 1st and to date has raised over S$1.73 million for seven startups in Singapore.