SIM invests $50m to get go-getters and their ideas going

The Singapore Institute of Management (SIM) is pumping $50 million into supporting entrepreneurship, with its first initiative a programme to help go-getters build an idea into a business.

The Platform E programme will train entrepreneurs, incubate ideas and help bring products to market. There will be two tracks launched in April next year - a four-month and a 12-month programme.

The l2-month programme is aimed at fresh graduates new to entrepreneurship or people looking for a career switch, while the shorter option is for business owners who need help with scaling up their businesses.

Platform E will equip the entrepreneur not just to run his own businesses but also to take on the role of an "intrapreneur" - someone within a company who promotes innovation, said Mr Alan Wong, the chief executive officer of Platform E.

Platform E will be located at a 25,000 sq ft facility in SIM Management House in Namly Avenue that will also be rented out as commercial co-working space to non-programme participants.

Besides Platform E, SIM's $50 million investment will also go towards supporting start-ups, mainly at the early stages.

Platform E will equip the entrepreneur not just to run his own businesses but also to take on the role of an "intrapreneur " - someone within a company who promotes innovation, said Mr Alan Wong, the chief executive of Platform E.

SIM will also look for opportunities to invest in promising start-ups and small businesses that are keen to scale up, it said.

A version of this article appeared in the print edition of The Straits Times on December 08, 2016, with the headline 'SIM invests $50m to get go-getters and their ideas going'. Print Edition | Subscribe