Wanted: Business founders to build up their next big venture from Singapore
The new Global Founder Programme under the EDB will support applicants as part of move to beef up the country’s startup ecosystem
[SINGAPORE] The Economic Development Board (EDB) on Tuesday (Apr 22) launched a programme designed to help seasoned business founders and innovators to launch and scale their next venture from Singapore.
The Global Founder Programme (GFP) seeks to strengthen Singapore’s startup ecosystem by giving a leg up to innovative new ventures with the potential to become global industry leaders, EDB said in a statement.
Describing Singapore as a “nexus of global business, innovation and talent”, EDB managing director Jermaine Loy said the agency hopes to build globally minded ventures “right here in Singapore” through the programme.
EDB’s executive vice-president Choo Heng Tong said in response to queries from The Business Times that the aim of the programme is to grow new ventures to become high-growth global companies in areas such as the digital economy, artificial intelligence, sustainability, and deep tech.
These ventures will create commercial and innovation jobs, as well as develop meaningful pathways for Singaporeans to take on leadership roles and enjoy international exposure, said Choo.
Successful ventures can also attract more capital to Singapore and lead to collaborations with partners in Singapore, such as with multinational corporations, small and medium-sized enterprises as well as research institutes, he added.
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Successful GFP applicants will be able to tap into Singapore’s technology infrastructure, research and development capabilities, and deep talent pool to support the growth of their ventures.
These founders will become part of a community of like-minded entrepreneurs, strategic partners, investors and advisers, and be given access to curated programmes.
Participants will also be invited to apply for the Overseas Networks & Expertise (One) Pass – a work pass for top talent that paves the way for holders to start, operate and work for multiple companies concurrently.
EDB added that successful founders will also get support for streamlined business set-ups and talent facilitation, so they can build high-performing teams in Singapore.
They will be also connected to experts and potential customers at key growth stages – which would enable them to refine product-market fit and business strategies, forge partnerships, access capital, and expand into new markets.
EDB defines founders as individuals with a proven track record of building and scaling successful new businesses. They would have, for example, grown a startup into a global company, played a key role in launching major products or business lines in a multinational or tech unicorn, or led a deep-tech venture to commercial success in sectors such as healthcare, hardware, artificial intelligence or the green economy.
Applicants should also be ready to establish and scale their next venture with Singapore as their global headquarters.
Choo told BT that the programme will have “a limited cohort size” as it is highly targeted. The agency added that experienced founders, such as entrepreneurs and seasoned builders with a proven track record of taking new businesses or products global, are welcome to apply for the programme.
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