Big dreams for startup sector in Singapore
Action Community for Entrepreneurship is looking at creating more opportunities for interaction between startups and companies.
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Mindy Tan
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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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