Industry Partners Launch New Initiative To Drive High-Tech Growth Across Asia Pacific Region
www.softwareAP.net to provide entrepreneurs with access to funding networks, government assistance and business development services
BEIJING - April 18, 2007 - Today at the Microsoft Government Leaders Forum, Microsoft Corp, Intel, Group Intelligence, Asian Venture Capital Journal and Red Herring launched www.softwareAP.net, a new web-based initiative to bridge the gap between entrepreurial high-tech growth companies, and the complicated network of venture capitalist and government ecosystems. In the initial phase of the global initiative, companies in Australia, Malaysia, New Zealand, Philippines and Singapore will be offered the cross border growth opportunities that they often seek across the Asia Pacific region. With participation from each of the participating governments, the initiative is aimed at accelerating the growth of software and web service providers by providing access to funding networks, government assistance and low cost, high value business development services. The goal is for the SoftwareAP.net Business Community ecosystem to comprise of over 70,000 information communication technology (ICT) companies across the Asia Pacific region. The initiative will also help software companies and participating governments gather valuable census data about each country's software economy's business growth and financing needs. Sal Carrera, Director of Economic Development & Real Estate, Westchester County Government, New York, USA.
With participation from each of the participating governments, the initiative is aimed at accelerating the growth of software and web service providers by providing access to funding networks, government assistance and low cost, high value business development services. The goal is for the SoftwareAP.net Business Community ecosystem to comprise of over 70,000 information communication technology (ICT) companies across the Asia Pacific region. The initiative will also help software companies and participating governments gather valuable census data about each country's software economy's business growth and financing needs.
"SoftwareAP.net will provide a simple but valuable link to our New York-based tech vendor community from the heart of the vibrant Asian economy. Trade development leveraging the Web is one of our key growth strategies", said Sal Carrera, Director of Economic Development & Real Estate, Westchester County Government, New York, USA.
High-Tech companies will register their interest to attract investment and capital by filling out a questionnaire and taking the online "Investment readiness test drive". If the company scores well enough and wants to continue to apply for funding, www.softwareAP.net will introduce them to the appropriate investment channel including Venture Capital, Angel Investor, Private Equity or Debt Finance.
For Venture Capitalists, a profile of their fund will qualify what specific deals they like to invest in and in which industry and geography. This profile will generate qualified deals based on their own criteria. Governments will also be able to take advantage of the initiative and will have access to profiles of high growth companies which come through the deal flow pipeline. Over time www.softwareAP.net will become a great reference base for industry representation as well as governments.
The charter sponsors of www.softwareAP.net, Microsoft, Intel, Group Intelligence, Red Herring and AVCJ offer a broad spectrum of expertise - from definitive sources of analysis and information on private equity and venture capital activities through to connecting investors, inventors and business innovators, globally.
"We are proud to be involved in this timely initiative" said Mindy Hull, VP Business Development of Red Herring. "At Red Herring we are all about finding "the next big thing' and in the Asia Pacific region we are seeing a lot of great new companies crying out for growth assistance."
Economists, governments and businesses often cite innovation as the driving force behind economic growth and development. John Hummelstad, Microsoft Asia Pacific Director of Venture Captial and Emerging Business suggests entrepreneurial economies should focus on four critical elements for success: fostering universities, students, researchers and academics; developing venture capital; maintaining an open business environment and building global connections.
"The success of entrepreneurial economies lies in the combination of innovation, funding and good management," said Hummelstad. "To become successful these economies depend upon entrepreneurs with commercialized products, a highly skilled and talented workforce, venture capitalists and business consultants. SoftwareAP.net is an excellent example of industry working hand in hand with government and venture capitalists to connect talented entrepreneurs to the capital they need to compete on the global stage."
