SingTel (Singapore Telecommunications), a leading Asian communications group and the largest mobile operator in the world, and Amdocs, provider of customer experience systems and services, opened a joint development center in Israel this week, Ynet reported.
The SingTel/Amdocs collaboration in Israel is the first of its kind from Asia Pacific and it is being billed as a gateway for local startups into the fast-growing Asian markets. They plan to reach out to local entrepreneurs to develop capabilities in key areas as well as conduct proof of concepts and the eventual commercialization of innovative technologies, products and services in the 26 countries where the SingTel Group operates.
SingTel boasts 473 million mobile customers across the Asia Pacific.
In addition to the development center, SingTel plans investments in three key areas in Israel: young Israeli startup companies, working with Israeli academic or research institutes by funding studies conducted by the country’s universities or working on ideas created in such institutions, and working with incubators to find interesting business and technology ideas from Israel.
“We have been extremely satisfied with the wealth of talent in Israel,” said Allen Lew, CEO of Group Digital L!fe, SingTel. “This has propelled us to open this new development center to scout for new growth engines for SingTel.”
“Through this partnership with Amdocs in Israel, we are embedding ourselves in one of the leading innovation hubs of the world,” said Lew. “We are committed to engaging the local innovation community. Our financial investment in Israel will be determined according to the value of projects. In SingTel, we have a corporate venture fund of S$200 million. Part of this fund will also reach Israel.”
“Amdocs has been dedicated to the communications industry for over 30 years, and today, our 20,000 employees serve the world’s leading service providers in over 60 countries,” said Eli Gelman, chief executive officer of Amdocs Management Limited.