Techpacific.com has earmarked US$5 million for investment in Internet start-ups as part of the launch of Tp Labs, an incubation centre.
The company yesterday opened the 21,000 square foot incubation centre which start-ups can use as their initial office space.
Tp Labs generally will take at least a 25 per cent stake in the start-ups when it provides seed capital.
'We provide between US$200,000 to US$500,000 for each company but I would really rather provide US$200,000 to US$300,000,' said Tp Labs managing director Jonathan Hakim.
The incubation centre will also provide access to business support services such as accountants and lawyers at lower prices than an individual start-up would be quoted. Tp Labs has partnered with accountants Grant Thornton and law firm Stephenson Harwood & Lo among others to provide support services.
Tp Labs aims to generate revenue from the start-ups before realising gains on its investments by charging its companies rent and is examining other potential revenue streams.