Big dreams for startup sector in Singapore

Action Community for Entrepreneurship is looking at creating more opportunities for interaction between startups and companies.

IT is barely past 9am, and Blk 79 and its surroundings are already teeming with activity. Blk 79, and its (for now) more famous neighbour, Blk 71, are part of Launchpad@one-north in the Ayer Rajah Industrial Estate.

Officially opened by Prime Minister Lee Hsien Loong a month ago, the centre - which currently comprises three blocks - houses about 500 startups and 35 incubators. It is also the home of Action Community for Entrepreneurship (ACE), which in 2014 was relaunched as a private sector-led movement for entrepreneurs.

Being private sector-led means that it now has more autonomy to think about what is needed from the ecosystem, says Prakash Somosundram, vice-chairman of the Board of Trustees. It also means that it is able to move a lot faster.

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