Hewlett Packard Enterprise (HPE) is investing $140m over the next five years in Singapore as part of its efforts to cement its position in the fast-growing market for enterprise IT products and services in the Asia-Pacific (APAC) region.
Speaking at the launch of its APAC headquarters in Singapore, HPE’s president and CEO Meg Whitman said the facility will bring together different aspects of HPE’s businesses such as research and development at a single location to better serve businesses.
“When I meet with customers in diverse industries around the world, it’s very clear that we’re living in what we call the idea economy,” she said, noting that the ability to turn a new idea into a new product or business has never been easier.
To help startups turn their ideas into reality, part of HPE’s new investments in Singapore will go into a $16m incubator programme dubbed InnovateNext that will partner local companies to develop and commercialise new technologies.
“Singapore is an innovation hotspot and the best place for us to base our operations in this important fast-growing region,” Whitman said.
To be co-funded by HPE and Singapore’s Economic Development Board, InnovateNext will support 12 startups over the next three years, with the goal of developing viable products and services.
Specifically, startups will receive access to HPE resources, mentorship and consulting expertise to develop products that align with HPE’s key focus areas of hybrid IT, data analytics and internet of things (IoT) across industries such as financial services and manufacturing.