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Wednesday, April 17, 2013

Superb Technology: Smart, IdeaSpace bring AngelHack to Philippines

SMART Communications, Inc. (Smart) and business incubator IdeaSpace Foundation have partnered with US-based AngelHack to launch the Philippine leg of the what is considered the world's biggest coding marathon.

The April-June AngelHack Spring Global Challenge is expected to bring in 6,000 developers in 32 cities in Asia Pacific, North America, South America and Europe.

The winners in each city will enter a three-month accelerator program under which AngelHack will help turn their big idea into a startup.

Winners will then be brought to the United States for mentorship and meetings with key people of Silicon Valley. AngelHack will also help connect the hackathon winners with angel investors worldwide.

The Philippine leg of the competition is scheduled for June 8 to 9. More details will be announced soon.

"There is a Singapore-based venture capitalist interested in investing in Asia Pacific winners. I have a good feeling someone from the Philippines will win," said AngelHack cofounder and chief executive officer Greg Gopman during the Philippine launch of AngelHack at the Jump Experience Center in SM Megamall.

"We see a lot of opportunities in the next few years in the Philippines and in Southeast Asia," he added.

Gopman said he learned about the active developer community in the Philippines when he was recently in Singapore. He said he's excited about the AngelHack partnership with Smart's developer community Smart Developer Network (Smart DevNet) and IdeaSpace.

"It's an ideal partnership because Smart really cares about the developer community.

It's also nice to know that Smart has invested in a foundation (IdeaSpace) that promotes technology entrepreneurship," Gopman said.

Smart DevNet has been organizing and sponsoring numerous hackathons and developer meetups since its launch in mid-2012. IdeaSpace, which is backed by Smart and other companies, recently named the 10 startups it will support through seed funding and mentorship.

"We encourage developers to join the Philippine leg of AngelHack so they can hack their way to the global stage. This event is like the Olympics for engineers and hackers," said IdeaSpace president Earl Valencia.

"Joining hackathons is the opposite of complaining. Instead of ranting about things, we can devise something that can solve our problems. Hackathons like this bring to the fore the country's potential game changers," said Smart developer evangelist Paul Pajo. (PR)

SunStar

WSJ: Equity Deals Keep Coming in Singapore, Philippines

Lucio Tan
 
Reuters

Southeast Asia's recent boom in share offerings is growing louder.

In the Philippines LT Group Inc. LTG.PH +11.11%, a conglomerate owned by billionaire Lucio Tan, raised around $920 million in the country's largest-ever share offering, pricing shares at 20.50 pesos ($0.50) each  the high end of the indicative range, issuance manager UBS AG said Wednesday.

That followed Monday's report in The Wall Street Journal that the Philippine unit of Nasdaq-listed Melco Crown Entertainment Ltd. is looking to raise $377 million in a private placement. Road shows for that sale started Monday in Manila and will be held in Hong Kong, Singapore, London and the U.S., the term sheet showed.

Meanwhile, in Singapore, Taiwanese pay-TV operator Asian Pay Television Trust is testing investor appetite for a listing as a business trust that could raise up to US$810 million, people with knowledge of the deal said Wednesday.

And Croesus Retail Trust, a Japanese real estate fund, has revived a plan to raise around US$300 million by listing some of its shopping malls as a business trust in Singapore in the second quarter.

Also aiming for a second-quarter listing in Singapore is U.K.-listed Investec PLC, a fund management and banking group, which plans to raise up to US$500 million through an IPO of its aircraft leasing trust.

So far this year, Southeast Asia has seen a surge in share offerings. Both Thailand and Singapore have raised more money from new listings than Hong Kong, the world's busiest IPO market from 2009 through 2011.

The Wall Street Journal

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