Plug and Play Singapore Funds First Company, Thoughtbuzz
Social Media monitoring specialists ThoughtBuzz, receives half-a-million in funds under the Technology Incubation Scheme.
Singapore born ThoughtBuzz Pte Ltd, one of the few Social Media intelligence specialists in the country, has been awarded SGD500, 000 (USD 380,000 ) in funds under the Technology Incubation Scheme. Under this initiative, The National Research Foundation together with Plug and Play Tech Centre have come together to co-invested in select Singapore based high-tech start ups.
One of the initiatives of The National Research Foundation which was set up in 2006 was to implement national research, innovation and enterprise strategies approved by the RIEC (Research Innovation and Enterprise Council), and to allocate funding to programmes that meet with NRF’s strategic objectives. The NRF selected seven incubators for this initiative in 2010 after inviting proposals from interested parties in August 2009. Plug and Play Centre was one of the seven incubators selected.
Plug and Play Tech Centre is setting up its Singaporean operations with close affiliation to its current US operations, transferring management know-how and building a bridge between Plug and Play in Singapore and their existing entrepreneurial eco-system in Silicon Valley.
“The Social Media scene is growing at an alarming rate. Many companies don’t realize the impact it can have on their product and brand and this is where ThoughtBuzz comes in. We help you decipher all the chatter, identify the problem and help you fix it” Anshul Jain, CEO, ThoughtBuzz Pte Ltd.