Huawei recently announced its plan to invest $100 million in startup support at its inaugural Spark Founders Summit, which took place simultaneously in Singapore and Hong Kong.

The investment would go towards Huawei's Spark programme, which aims to build a sustainable startup ecosystem in the Asia-Pacific (APAC) over the next three years, according to the Chinese tech giant.

Huawei has been helping Singapore build the first startup hub in APAC since 2020 and has expanded the programme to many countries in the region in the past year.

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At the summit, Huawei also announced that this programme would focus its efforts on developing four additional startup hubs – in Indonesia, the Philippines, Sri Lanka, and Vietnam – with the overarching aim of recruiting 1,000 startups, out of which 100 are scale-ups, into the Spark accelerator programme.

Huawei Senior Vice-President and Board Member Catherine Chen said, "We all know how brilliant startups and SMEs are. They are the innovators, disruptors, and pioneers of our times. These companies account for two-thirds of jobs worldwide, create two-thirds of new jobs, and generate almost 50% of global GDP. And 34 years ago, Huawei was a startup with just $5,000 of registered capital."

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"In Asia Pacific, for the Asia Pacific has been our unchanged commitment for the past two decades," said Jeffery Liu, president of Huawei Asia Pacific. "Leveraging Huawei's global customer base and full-stack technologies, the Spark Program will invest over $100 million in the next three years, and provide comprehensive support to build a sustainable startup ecosystem and create new value for the dynamic region."