Location-based Marketing Association launches Singapore Chapter; Yoose and YFind are pioneer members

The Location-based Marketing Association (LBMA) has today announced the launch of its Singapore Chapter, which will also serve as the regional hub. Singapore startups Yoose, a hyper-local mobile ad network, and YFind, an indoor positioning solutions provider, are the founding regional members.

The international group is dedicated to promoting research, education and collaborative innovation in the field of location-based marketing. It also hopes to share best practices, establish guidelines, and promote the success of its members, which include retailers, agencies, advertisers, media buyers, service providers, and wireless companies.

A launch event, sponsored by the Infocomm Development Authority of Singapore (IDA), is to be held today. Mun Yew Loh, manager of enterprise mobility at IDA, is one of LBMA’s members.

Driven by increased apps usage, rapid smartphone adoption, and new positioning technologies, the LBS industry could exceed USD12B by 2014, according to projections by Juniper Research.

While the research firm admits that there has been a number of “false dawns” from 2000 to 2007, it is convinced that this time, it’s for real. That’s largely due to the iPhone, which ushered in the era of app stores, making it easier to create and market location-based services.

Related: “Indoor GPS” company YFind raises US$1.18M from Innosight and Walden