Enterprise Singapore names 14 new partners to nurture start-ups

Enterprise Singapore (ESG) has added 14 new accredited mentor partners to a scheme that grooms local start-ups.

The newly-appointed partners include investors and accelerators such as Accelerating Asia, AgFunder Rocket Seeder, Big Idea Ventures Asia, Cocoon Capital and Entrepreneur First.

The appointments bring the total partner network in the Startup SG Founder scheme to 57, most of which are in deep-tech industries such as agritech and advanced manufacturing.

They were selected based on the quality of their programmes, management strength and operational sustainability, ESG said.

Last year, 74 start-ups received help from 43 mentor partners and were awarded grants totalling $2.22 million for business development. The Startup SG Founder programme aims to provide mentorship and start-up capital grants to first-time entrepreneurs.

The mentor partners identify eligible start-ups based on their concepts, business model feasibility, management teams and potential market value. Successful applicants receive advice, learning programmes and contacts.

Ms Lim Seow Hui, ESG's director of start-up development, said: "We have seen start-ups stepping up to find ways to tackle issues arising from Covid-19.

"In this current climate, it is therefore imperative that we continue to collaborate with and support start-ups in their growth by working with strong ecosystem partners like our appointed (mentor partners), who have the right capabilities and networks to guide start-ups through this challenging period."

Cocoon Capital managing partner Will Klippgen said: "Mentorship is an integral part of growing a strong ecosystem for entrepreneurs, and we at Cocoon Capital see the Startup SG Founder programme as a great way to extend our mentoring to start-ups outside our portfolio, and to do our part in creating successful founders."

THE BUSINESS TIMES

The newly-appointed partners include investors and accelerators such as Accelerating Asia, AgFunder Rocket Seeder, Big Idea Ventures Asia, Cocoon Capital and Entrepreneur First.

A version of this article appeared in the print edition of The Straits Times on May 02, 2020, with the headline 'Enterprise Singapore names 14 new partners to nurture start-ups'. Print Edition | Subscribe