The investor’s purpose in VC, funds industries

“Techventure” kicked off in September this year to great fanfare. Many who attended the event could not help but agree that the start-up space in Singapore is brimming with opportunity and has never been more vibrant. The Singapore government signified its endorsement not only with Deputy Prime Minister Teo Chee Hean gracing the event’s opening ceremony, but also with his announcing of disruptive innovation as part of the overall budget for the entrepreneurial sector at a whopping S$19 billion (US$13.7 billion). It was an affirming display of the direction that Singapore has charted towards establishing a robust start-up and technology innovation ecosystem.

Recent years have witnessed numerous government-led initiatives spawning the start-up space along with foreign stakeholders. Notably, NUS Enterprise, the leading player in pairing start-ups with funds, recently partnered with unBound Media to host a platform for discussing the latest trends in global and Asian innovation. Such efforts have provided start-ups with vital financial support.

At Techventure, the National Research Foundation launched the new SWITCH programme in partnership with SLUSH from Finland. New support initiatives are reported almost weekly as the collaboration between funds and start-ups strengthens amidst the flourishing start-up scene. Mentions of Block 71 and Block 79 have found their way even into the US through start-up publications and paraphernalia there.

RONNIE TAN is managing director of Central Chambers Law Corporation.
SARA LIEW, equity director at the practice, also contributed to this article.