IDA arm launches programme to train potential VC managers

Singapore

ASIA'S first programme to train people in venture-capital management has been launched, marking the first of many talent-development initiatives to be rolled out in Singapore this year, which will go towards boosting the startup ecosystem.

The programme founded by Infocomm Investments, the investment arm of the Infocomm Development Authority (IDA) of Singapore, has selected seven "entrepreneurial youths" for its inaugural intake, from a pool of 190 applicants.

The seven - all Singapore-based, final-year students or fresh graduates - will be on the iMAT (Infocomm Investments Management Associate Track) programme; they joined Infocomm Investments (IIPL) this month.

Over the next 18 months, they will gain accelerated, all-access exposure to the venture-capital industry and learn "what it takes to be an ecosystem builder". They will be rotated across aspects of the job such as portfolio management of companies, evaluation of deal flows and the forging of partnerships, said iMAT on Wednesday.

Alex Lin, head of IIPL, told The Business Times: "We were looking for self-starters and individuals who are quick and able to think on their feet. They need to also have the passion and drive to make a difference to Singapore's startup ecosystem."

Among those who made the cut is Mohammad Fauzan bin Abdullah Sane, a final-year chemical and biomolecular engineering student at Nanyang Technological University.

"There is a lot of potential for first-hand learning in the startup scene because of how raw the Singapore startup ecosystem is. I want a front-row seat," he said.

On the new talent training initiatives in the pipeline, Mr Lin said: "IIPL has always been on a mission to grow Singapore's startup ecosystem, and that includes a willingness to try new ways for developing talent and harnessing individuals' capabilities for them to realise their full potential."

Entrepreneur First, a London-based, IIPL-backed startup accelerator that finds and grooms the best technical individuals into entrepreneurs, is considering a Singapore launch, possibly as early as this year.

Discussions for Campus Singapore, a localised community hub built by Google to nurture entrepreneurs, are believed to be underway too.

Christopher Quek, lead investor of Tri5 Ventures, said that the focus on "soft aspects" of the ecosystem, such as talent development, was a timely one.

"The government is doing a great job in funding and infrastructure and that is established. To build the ecosystem, we need more quality knowledge transfer, which includes venture capitalists, entrepreneurs via accelerators, software and hardware engineers, and mentors."

He added, however, that while the iMAT programme is a good one to expose and give entry to a new group of venture capitalists in the making, its 18-month duration may be too short to showcase the full cycle of an investment, which usually takes three to eight years.