Professional-services firms finding new business among startups

Banks, law and accounting firms looking to tap fast-growing segment say startups have different needs from their other clients

Published Tue, Oct 1, 2019 · 09:50 PM

Startups

Singapore

MORE professional-services firms in Singapore have set up specialised departments to capture business opportunities from among startups.

At least 11 banking, legal and accounting firms told The Business Times that they have specialised startup units, many created only in the last few years.

Sivi Sivanesan, a senior partner at law firm Dentons Rodyk who heads the firm's Venture Technology and Emerging Growth Companies Practice Group, said: "We are seeing more players in the market."

Ong Sin Wei of law firm WongPartnership said specialised teams like the firm's WPGrow arm recognise that startups' requirements "vary significantly" from other, more mature corporate clients.

Establishing a separate practice group enables law firms to "offer bespoke advice and more personalised services to cater to the changing needs of startups", said Mr Ong, one of the co-…