New centre to help start-ups expand overseas launched

New centre to help start-ups expand overseas launched

koh poh koon ace launch
Senior Minister of State for Trade and Industry Dr Koh Poh Koon at the ACE International Centre (ACEIC) launch on Sep 6, 2017. 

SINGAPORE: Start-ups can tap into additional support for their expansion plans from a dedicated one-stop centre launched on Wednesday (Sep 6).

The ACE International Centre (ACEIC) will help Singapore-based start-ups to connect to new networks, partners, overseas markets, and access programmes such as market awareness workshops and networking sessions.

It is run by the government-supported private organisation Action Community for Entrepreneurship (ACE).

International start-ups hoping to find footing into the Singapore market will be able to tap the centre's co-working space and local connections to seek investment, technology and business opportunities.

ACE Executive Director Edmas Neo said it hopes to bring between 20 and 25 start-ups on board by the end of the year - at least five of which could be Singaporean.

Speaking at the launch, Senior Minister of State for Trade and Industry Dr Koh Poh Koon said Singapore is well-positioned to serve as a launchpad for start-ups looking to expand into the region. But he added that this effort cannot be on the part of the government alone.

"The government therefore partners with private sector players in this ecosystem to enable more start-ups to scale through tapping global growth opportunities," said Dr Koh.

Singapore is considered one of the leading start-up hubs globally. From about 2,800 tech start-ups in 2003, over 4,300 now call Singapore home. The city-state has also seen an eight-fold increase in venture capital activity over the past five years, with a record high of US$3.5 billion (S$4.7 billion) invested into local start-ups.

ACEIC is located at the JTC Launchpad @ one-north, and is supported by IE Singapore, JTC Corporation and SPRING Singapore. 

Source: CNA/aa