Like a similar effort launched by Mobext, the fund aims to spark increased uptake of mobile marketing. It enables brands, publishers, agencies, app developers and entrepreneurs to create mobile assets, increase mobile ad spend and promote development of innovative technologies in emerging mobile markets, particularly India, Indonesia, Vietnam, Thailand, Malaysia, the Philippines and Singapore.
M2X will provide access to funds under two categories: 1) dollar-to-dollar co-investment with advertisers, agencies and publishers for mobile asset creation and 2) advertising campaigns that use mobile as a medium with Affle.
Another category is investment in startups or existing companies that are investing into technology innovation and IP creation in the field of mobile advertising.
Early applications from MMA members are open and other companies can apply from 1 October.
Anuj Khanna Sohum, founder and chairman of Affle Group, noted that the company sees huge untapped potential for mobile advertising in developing Asian markets.
“Some significant bottlenecks we see the industry facing in this part of the world include lack of quality mobile assets, limited or no investment in mobile advertising by some brands and limited investments in technology innovation,” he added.
It plans to help qualified brands and publishers to increase the value proposition and user traction of their mobile assets, and also to provide a significant impetus to ad technology innovation in mobile-first markets.
Rohit Dadwal, managing director at MMA Asia-Pacific, said the launch of the M2X fund will enable faster go-to-market for companies in the region who are creating products and solutions for the mobile advertising space.
“M2X is a strategic industry-focused initiative that aims to encourage this community to place their bets on the power of mobile, while sharing in risk and therefore increasing return-on-investment,” he said.
Applications from MMA existing members will be reviewed on a priority basis, while non-members that meet the criteria will be eligible for co-funding toward regional MMA membership.