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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Frasers Property H1 profit slides 81% on property value losses, lower residential contributions
US bill to restrict WuXi AppTec, Chinese biotechs revised to give more time to cut ties
Barclays cuts jobs in energy transition team it only just built
UMS Holdings Q1 net profit drops 44% to S$9.8 million
SIA Engineering H2 profit rises 11.5% to S$37.8 million on robust aviation MRO demand
Great Eastern shares jump 39% as OCBC mounts S$1.4 billion privatisation bid at S$25.60 per share