Technology

New tech, innovation networking club set up

Ms Cheryl Lee, co-founder of Spectrum, is seen here at the club which takes up 28,000 sq ft of space on the fifth floor of Duo Tower in Bugis. The aim of the club is to create a community for fast-growing tech companies to tap capital and expertise.
Ms Cheryl Lee, co-founder of Spectrum, is seen here at the club which takes up 28,000 sq ft of space on the fifth floor of Duo Tower in Bugis. The aim of the club is to create a community for fast-growing tech companies to tap capital and expertise. It will be officially launched in November.PHOTO: DIOS VINCOY JR FOR THE STRAITS TIMES

Aim is to help growth-stage firms access funds, consultancy, business opportunities

A new business club has been set up to help growth-stage companies access funds, consultancy and business opportunities.

Spectrum, as the club is called, was co-founded by Ms Cheryl Lee, a former private banker who also co-founded lifestyle group One Rochester, and Ms Shirley Crystal Chua, founder and chief executive of multi-family office and business consultancy Golden Equator.

Spectrum is "the first of its kind in Singapore", Ms Lee said in an interview with The Straits Times.

"We are building a tech and innovation business club for innovators, integrators, investors and thought leaders," she added, noting that the club is on the lookout for companies involved in all types of technology, from healthcare to fintech to education. "The members we curate won't be seed companies or start-ups, but growth companies that are poised for the next stage."

It will also take in venture capital and private equity firms, as well as those providing business support services like lawyers, auditors and consultants.

The aim is to create a community for fast-growing tech companies to tap capital and expertise.

"We want to empower the next generation of companies, help them learn from each other and help larger companies mentor younger members as well," added Ms Lee.

The club has taken up 28,000 sq ft on the fifth floor of Duo Tower in Bugis, making it one of the first tenants to move in. There is some room there for members to set up offices, but Ms Lee said it is ultimately not a co-working space.

"Members don't need to be physically in the space to connect with each other, get involved in activities or do deals," she said. Members will be able to connect through Spectrum's proprietary app, for instance.

The goal is to eventually open branches around the world, Ms Lee added.

Spectrum has been open for about two months and will be officially launched in November. A handful of firms have already joined, including Golden Equator and its portfolio companies.

The club will also be home to the Korea-Singapore Healthcare Incubator, to be set up by Golden Equator and Korean regulatory and clinical research provider C&R Healthcare Global.

A version of this article appeared in the print edition of The Straits Times on September 12, 2017, with the headline 'New tech, innovation networking club set up'. Print Edition | Subscribe