Startups

INTRODUCTION

A technology-enabled startup is a young company that is designed for high growth. An enabling technology is an invention or innovation that upon application can bring significant transformation in what a user is able to do.¹

Global Startup Ecosystem
The state of the global startup economy remains large – as an industry, it creates nearly $3 trillion in value and has close to $300 billion in venture capital investments around the world.It also boasts the highest concentration of any industry sector among top global companies, with seven out of the top 10 largest companies in technology.²

Singapore ranks 17th in the Global Startup Ecosystem Rankings by the Startup Genome. Its startup ecosystem is also valued at US$11 billion

Singapore Startup Ecosystem

Image credits: PM Lee’s facebook page

As startups are at the forefront of technology and innovation, these companies are instrumental to Singapore’s economic growth and progress. As one of the leading startup hubs globally, Singapore boasts an attractive and stable business environment for global and home-grown startups. As of 2020, there are 3,600 technology-enabled startups based in Singapore.

Today, there are at least five unicorns based in Singapore, including Grab, Acronis, Trax, Bigo Live, and Lazada. Other notable startups on track to receive unicorn status include Carousell, Ninja Van, and PropertyGuru. Locally, the more mature startups tend to be in more mature verticals such as telecommunications, e-commerce, logistics, and fintech. 

With COVID-19, the ecosystem has also seen emerging opportunities and acceleration of startups in key sectors such as Advanced Manufacturing, HealthTech, BioTech, and AgriTech to name a few.

New entrepreneurs can also visit Startup SG, a platform for a one-stop source for relevant schemes to meet their situations and needs.

Credits
1 https://www.pwc.com/sg/en/microsite/media/assets/startup-google.pdf
2 https://startupgenome.com/article/state-of-the-global-startup-economy

WHAT WE DO
For startups based in Singapore, we provide a range of support services depending on the stage and needs of the startup.

Early stage support

Learn about key entrepreneurship insights through our intensive 8-days structured mentorship and learning programme, BACECAMP.It is conducted over a period of one month where participants undergo Masterclasses and mentorship sessions with experts in relevant fields and domains. There are three runs per calendar year.

There will also be an opportunity to pitch to our partner AMPs to apply for the Startup SG Founder scheme, and to VCs for early investment.

Founders can also go through the ACE Membership to access support services offered by partner organisations including legal and regulatory services.

Growth stage support

Fundraising
ACE runs bi-monthly Meet the VC sessions and fundraising clinics for founders looking to fundraise.

International Expansion
Founders looking to expand overseas can sign up for ACE Market insights program. Key takeaways include learning about the desired country and business environment, and/or get advice from partners in ACE Connected Ecosystems network.

Tie-up Opportunities
Startups with disruptive innovations and solutions are invited to take part in corporate co-innovation challenges.

Refer to our events page for the latest calendar of events.

Talent needs

Access to talent is an integral part of the startup journey. Startups who are looking for entry-level or senior hires may do via the suite of Hence in this regard, the Institutes of Higher Learning (IHLs) play a crucial role in enabling this pipeline of talent into the startup ecosystem. Startups who are part of the ACE Membership network can apply for the Global Ready Talent (GRT) program through ACE to hire local students for internships.

ACE also partners with employment agencies to organise physical and/or virtual career fairs to match job seekers to companies who are looking to hire talent.

Other resources
Join us as an ACE member to be part of other community events and feedback roundtable sessions led by ACE.

STARTUPS THAT HAVE PARTICIPATED IN ACE ENGAGEMENTS 

…and more! 

TALK TO US

If you are a startup looking to be plugged into the Singapore startup ecosystem and join the ACE Startups Community, talk to us at info@ace.org.sg or sign up via this link.