Tencent Signs Memorandum of Understanding with the National University of Singapore

SINGAPORE, Oct. 23, 2019 /PRNewswire/ -- Tencent Holdings Limited ("Tencent"), a leading provider of internet value added services in China, today announced the signing of a Memorandum of Understanding (MOU) with the National University of Singapore (NUS), through its entrepreneurial arm NUS Enterprise to set up a program nurturing and incubating companies in Singapore through the services of Tencent Cloud.

The signing of the MoU by Flying Wu, General Manager, International Business Group from Tencent and Professor Freddy Boey, Deputy President (Innovation & Enterprise) from NUS, officially marks the start of the close collaboration between the two parties for a period of three years. It signifies both parties' commitment to deepen their mutual understanding and friendship as well as to promote and contribute to economic progress through their joint efforts in support of NUS-affiliated startups incorporated in Singapore.

Flying Wu, General Manager, International Business Group, Tencent, said, "We are proud to collaborate with the National University of Singapore, a top-tier academic institution, in nurturing local companies in the country by leveraging Tencent's expertise in the cloud space and through our cloud products that cover various sectors, from finance, telecoms, e-commerce, travel and hospitality as well as online game and entertainment.  We look forward to more collaborations with different educational institutes and businesses in Singapore in the future."

Professor Freddy Boey, NUS Deputy President (Innovation & Enterprise), said, "We are grateful for Tencent's support and contribution to NUS Enterprise's ongoing efforts in incubating startups and supporting entrepreneurs in Singapore. NUS-affiliated startups can benefit from Tencent Cloud's wide range of products and gain exposure as well as awareness through Tencent's ecosystem."

Harnessing the strengths of Tencent's cloud offerings and NUS's expertise in incubating startups, the MoU will cover the following major areas:

• Tencent Cloud services and technology for startups: Within the first year of the MOU period, up to 20 NUS startups will be mutually selected by Tencent and NUS to utilize Tencent Cloud services. These NUS startups will receive technical support, solution, online and offline training with respect to Tencent Cloud products, and gain more insight regarding best practices in their respective fields.
• Marketing support and speaking opportunities: Tencent will support the selected NUS startups with marketing efforts, and selected companies will also be featured as speakers in events organized by Tencent.
• Access to Tencent's ecosystem support: The selected NUS startups will also be granted access to Tencent's Artificial Intelligence Lab, dedicated AI services and other relevant means to create applications and other features. Tencent will also provide the selected NUS startups with reasonable access to other ecosystem support from Tencent, along with opportunities to obtain direct or other investments, receive leads and build connections with global ecosystem partners.

About Tencent

Tencent uses technology to enrich the lives of Internet users.

Our communications and social platforms, Weixin and QQ, connect users with each other and with digital content and services, both online and offline, making their lives more convenient. Our targeted advertising platform helps advertisers reach out to hundreds of millions of consumers in China. Our FinTech and business services support our partners' business growth and assist their digital upgrade.

Tencent invests heavily in talent and technological innovation, actively promoting the development of the Internet industry. Tencent was founded in Shenzhen, China, in 1998. Shares of Tencent (00700.HK) was listed on the Main Board of the Stock Exchange of Hong Kong in 2004.

For further information, please contact:
Current Global
Irene Fung
ifung@currentglobal.com