Start, Scale, Soar: Supporting the Growth Journey of Start-ups€¦ · and start-up community....
Transcript of Start, Scale, Soar: Supporting the Growth Journey of Start-ups€¦ · and start-up community....
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2015/SMEWG40/025 Agenda Item: 13.1.7
Start, Scale, Soar: Supporting the Growth Journey of Start-ups
Purpose: Information
Submitted by: Singapore
40th Small and Medium Enterprises Working Group Meeting
Atlanta, United States10-11 June 2015
Start, Scale, Soar: Supporting the Growth Journey of Start-ups
Mr Ted Tan
Deputy Chief Executive
SPRING Singapore
40th APEC SMEWG Meeting
Focused efforts to evolve the entrepreneurship landscape…
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Drive more private sector
involvement in supporting
entrepreneurs
Provide greater market access
opportunities to start-ups
Improve the overall quality of start-ups
…And strengthen support for start-ups’ growth journey
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Promote a strong entrepreneurship culture and start-up community
Facilitate the creation of an entrepreneurial hub
Catalyze partnerships between large enterprises and start-ups
Help start-ups venture abroad through soft-landing and in-market partners
Facilitate access to talent
Strengthen financing opportunities
START SCALE SOAR
By developing an entrepreneurship culture and community…
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• Initial public-private initiative, fully privatized in 2014 • Foster a culture of serial entrepreneurship &
‘paying it forward’ • Focus on helping start-ups in the initial phase
Entrepreneurship in Education
Early exposure to entrepreneurship from primary schools to universities
Spur private sector involvement
Building infrastructure to foster start-up communities…
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Launchpad @ one-north
Focus Sectors Science and engineering, Biomedical, Electronics, Infocomm and media
500 Start-ups
35 Incubators & Accelerators
2,000 Talents
Strengthen partners to better multiply efforts..
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• Incubators identify high-potential start-ups & accelerate their growth
• >40 incubators are government-backed, able to support 600 to 1,000 start-ups
• Government support through co-investment and/or defray of operating costs
Ideation Validation Efficiency Scale
Access to Financing
Raw Business Idea
Transfer of Expertise & Know-how
Focused Development Support
Mentoring
Promising Start-up Growth
Market Access
Role of Incubators
…And enhance market access opportunities
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Support promising start-ups in establishing presence in overseas markets through the right infrastructure, resources and networks
• Engage overseas networks of incubators & partners
• Help start-ups access markets and facilitate matching with overseas partners
Encourage overseas incubators and corporations to establish local incubator presence
Establish in-market ecosystem, indirectly through partners or directly
Attracting Overseas Incubators and Partners
Overseas Missions Overseas LaunchPads
For start-ups to reach their fullest potential…
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• Live-chat platform for websites to provide immediate customer support
• Used by >70,000 businesses
• Incubated by NUS Enterprise & invested by SPRING SEEDS
• Acquired by NASDAQ-listed Zendesk for > SGD 30mil
• Real-time video analytics for retailers to track shopper insights
• Invested by SPRING SEEDS
• Partnering MNCs like Wincor Nixdor to integrate solution into existing retailer networks
Conclusion
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• Increase linkage between start-up communities and incubators in APEC economies
• Welcome partnerships to boost overseas LaunchPads
• Keen to learn more about other start-up development strategies
START SCALE SOAR
Thank you
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