Singapore, 26th May 2017 – The Singapore University of Technology and Design (SUTD) has signed an MOU with six venture capitalists. The partnership aims to boost the university’s entrepreneurial ecosystem and nurture local startups.
The six partners are (in alphabetical order):
- BeaconRock: A company that focuses on financial management consultation, and private equity and venture capital related deals.
- FundedHere: A crowdfunding platform that connects investors to startups in Asia.
- Fund Singapore: A business of equity and debt crowdfunding platform for Singapore startups.
- Raffles Venture Partners: A venture capitalist that provides support to potential startups, in term of investment, co-working space and mentorship.
- RIA: An organization that works with start-ups through their various stages of growth. They run the AIRmaker suite of programs, including corporate innovation programs, an IoT-focused (Internet of Things) accelerator – Digital Health and Smart Urban Solutions sector, and a scaling programme for later stage start-ups.
- Velocity: A business acceleration program based in Singapore and supported by ACP Pte. Ltd. (a Registered Fund Management company with MAS and has an Accredited Business Angel status under the SPRING Seeds Capital Business Angel Scheme).
As a young university, SUTD is always looking for ways to improve and provide more resources to students who are aspiring entrepreneurs. The collaboration with the six partners, will provide more opportunities for students to receive support from potential investors and mentorship from the industry, with special focus in areas such as HealthTech, FinTech, EduTech, Big Data technology, Internet of Things, to name a few.
Under the MOU, SUTD students and startups will have the opportunity to interact with these partners through entrepreneurship-related activities, such as StartUp Fiesta, SUTD 10K Challenge, Create4Good, Startup Pitch Day, StartSomething@SUTD, etc. The partners will also establish a work placement programme for selected SUTD students as well as mentor promising startups.
SUTD has worked hard to cultivate a strong entrepreneurship ecosystem for students. Besides specially setting up the Office of Technology and Enterprise Management to support students’ startup ventures, ranging from experiential programmes, overseas entrepreneurship exposure, entrepreneurship capstone or final year project, incubation, mentoring, and events around entrepreneurship SUTD also recently launched the SUTD Technology Entrepreneurship Programme (STEP), which is an integrated 4.5-year programme, where students graduate with a Bachelor of Engineering or Science and a Master of Science in Technology Entrepreneurship for students with a strong interest in entrepreneurship.
Said Dr Wong Woon Kwong, Director of SUTD’s Office of Technology and Enterprise Management: “The establishment of the MoUs demonstrates the commitment of SUTD, through its Entrepreneurship Centre, to provide the SUTD community a strong startup ecosystem to better support them in their spinoff aspirations and as a result, create more technologically grounded startups in Singapore. We are very excited to work with our partners in grooming future generations of entrepreneurs.”
(From left to right: Mr. Lee Kwai Seng (Managing Director, RIA Venture Capital); Mr. David Lim (Managing Director, Raffles Venture Partners); Mr. Shobhit Agrawal (Finance & Operations Head, Velocity Accelerator); Prof Chong Tow Chong (Provost, SUTD); Mr. Lester Chan (CEO, Fund Singapore/ Managing Director, BeaconRock Investments); Mr. Daniel Lin (Executive Director, FundedHere)