Huawei said the investment would go towards its Spark Program in the Asia Pacific region, which aims to build a sustainable startup ecosystem for the region over the next three years. Huawei has been helping Singapore, Hong Kong, Malaysia and Thailand build their startup hubs.

At the summit, Huawei also announced that this program would focus its efforts on developing four additional startup hubs, in Indonesia, the Philippines, Sri Lanka and Vietnam, with the overall goal of recruiting a total of 1,000 startups in the Spark accelerator, programming and shaping 100 of them into established enterprises.

Also at this summit, Huawei launched its Cloud-plus-Cloud Collaboration and Joint Innovation Program to further increase its support for startups around the world. Huawei will devote continuous efforts and leverage its entire business portfolio in the Cloud-plus-Cloud collaboration space to foster technology innovation, global and local services and business ecosystems, to accelerate the growth of emerging enterprises.

The summit was attended by representatives from many prominent Asian startups, representatives from academia, representatives from various industries and governments, and the media, as well as more than 50 leading regional venture capital investors and more than 300 startup founders.

Speeches and panels at the event focused on the social value of this startup ecosystem and how startups can promote technological and ecosystem innovation, to contribute to local communities and drive socio-economic development.