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Latest News!

 

10 Jan 2017 - INSEADAlum Venture (IAV) invests in INSEAD alumni start-up, Switchee Ltd., an early-stage UK-based venture aim to deliver smart home solutions for social housing. Switchee’s managing director and co-founder, Adam Fudakowski, was the winner of the December INSEAD Venture Competition held in 2014. IAV’s launch of its SGD1m vehicle is to invest globally in startups founded by INSEAD alumni. Interested alumni can contact IAV through their online application portal at inseadalumventures.venture360.co. Read press release HERE

 

Resources for Entrepreneurs

 

The following organizations provide valuable resources for entrepreneurs and investors, and may serve as a starting point as you explore options available to you after INSEAD.  You can also find additional resources on the Centre's website.

INSEAD Angels (Asia), an alumni investment club, provides early-stage seed minority investment to high-calibrate start-ups where the founder or co-founder is an INSEAD alum. The club encompasses alumni with diversity of thought and experience. They balance their vision on three pillars: i) funding and mentoring for the entrepreneurs, ii) returns for the investors, and iii) contributing portion of the returns to INSEAD.

INSEADERS is the dedicated incubator for INSEAD, and is the only incubator that is for INSEADERS by INSEADERS. Visit the webpage to sign up for the latest news as it becomes available and stay tuned for more information.

INSEADAlum Ventures Pte Ltd (“IAV”) is a investment company focused on providing seed funding, value-added resources and mentorship to selected INSEAD alumni who are becoming entrepreneurs after graduation. Founded by two INSEAD Alumni with successful track records as entrepreneurs and investors; Deepak Shahdadpuri (MBA‘98D) and William Klippgen (MBA‘03D). IAV will invest from SGD $50k to $200k in each start-up and will help develop the start-ups to a point where they easily can raise further seed or Series A funding.

Organizational Support for Entrepreneurship

 

Here are some information provided by the Economic Development Board (EDB) of Singapore which shall be used for reference purposes. Details and additional information are subject to respective authorities and accuracy at the time of usage or application. A comprehensive list of information for Start-Ups / SMEs can be found at: https://www.smeportal.sg

 

SPRING Singapore

SPRING Singapore is an agency under the Ministry of Trade and Industry responsible for helping Singapore enterprises grow and building trust in Singapore products and services. As the enterprise development agency, SPRING works with partners to help enterprises in financing, capability and management development, technology and innovation, and access to markets. As the national standards and accreditation body, SPRING develops and promotes an internationally-recognised standards and quality assurance infrastructure. SPRING also oversees the safety of general consumer goods in Singapore.

 

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Inland Revenue Authority of Singapore (IRAS)

The Inland Revenue Authority of Singapore (IRAS) is the main tax administrator to the Government. IRAS collects taxes that account for more than 70% of the Government's Operating Revenue that supports the Government's economic and social programmes to achieve quality growth and an inclusive society. To support the growth of local entrepreneurship, new companies are given full exemption on the first $100,000 normal chargeable income and a further 50% exemption on the next $200,000 of normal chargeable income for the first three consecutive YAs under the Tax exemption scheme for New Start-Up Companies.

 

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Design Singapore Council

The DesignSingapore(DSg) Council was established to help develop the nation’s design sector. This follows from the Economic Review Committee’s report which identified the creative industry as one of the three new sectors (including education and healthcare) for economic growth. The DSg Council is part of the Ministry of Communications and Information. In the space of design for entrepreneurs, DSg has initiatives such as the prototyping lab@NDC, a collaboration with SPRING to encourage design innovation activities.

 

Infocomm Media Development Authority (IMDA)

The IMDA develops and regulates the converging infocomm and media sectors in a holistic way, creating a dynamic and exciting sector filled with opportunities for growth, through an emphasis on talent, research, innovation and enterprise. MDA aims to build a competitive and sustainable infocomm media industry, developing Singapore as a nucleus for media content, services and applications, while growing the seed of technological innovation and fostering collaboration between local and multinational corporations in the sectors. Examples of Programmes and grants available includes Accreditation@IMDA and IMDA Labs.

 

National Research Foundation

The National Research Foundation (NRF), is a department within the Prime Minister's Office. The NRF sets the national direction for research and development (R&D) by developing policies, plans and strategies for research, innovation and enterprise. It also funds strategic initiatives and builds up R&D capabilities by nurturing research talent. The NRF aims to transform Singapore into a vibrant R&D hub that contributes towards a knowledge-intensive, innovative and entrepreneurial economy; and make Singapore a magnet for excellence in science and innovation. Examples of support available include the Early Stage Venture Fund.

 

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Exploit Technologies Pte Ltd (ETPL)

ETPL is the commercialisation arm of the Agency for Science, Technology and Research (A*STAR), supporting it in transforming the economy by driving innovation and commercialising its research outcomes. ETPL aims to be the one-stop co-innovation partner of choice to grow businesses in Singapore and beyond through translating inventions and intellectual capital into marketable products, processes and services. Examples of support available includes the Incubation and Startup Management (ISM) programme.

 

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NUS Enterprise

 

NUS Enterprise organises a variety of entrepreneurial education opportunities. For social entrepreneurs, the Business Model Design helps create, visualise and test business models. It is tailored to social enterprises, assessing the social impacts and financial sustainability of the purpose-driven venture. NUS Enterprise also provides a full spectrum of support to help individuals and organisations succeed in their entrepreneurial pursuits via the NUS Start-Up Runway.

 

 NTUitive

 

Nanyang Technological University-NTUitive Pte Ltd (“NTUitive” for short) is the University’s innovation and enterprise company. NTUitive supports the University’s mission to develop an innovative ecosystem to encourage innovation, foster entrepreneurship and facilitate the commercialisation of research.

 

General Restrictions

 

Proposed business idea must not be in the following list:

  • Cafes, hawker centres, food courts, coffee shops
  • Nightclubs, lounges, bars
  • Foot reflexology, massage parlours, beauty salons
  • Gambling
  • Prostitution, social escort services
  • Acupuncture, traditional Chinese medicine, herbal dispensing businesses.
  • Employment agencies (including recruitment of foreign workers, relocation services and manpower services)
  • Geomancy

Please contact individual scheme owners for specific restrictions.

 

EnterPass - www.mom.gov.sg/passes-and-permits/entrepass

Who it is for

Eligible foreign entrepreneurs who want to start and operate a new business in Singapore.

Who can apply

Candidate can apply directly.

Minimum salary

No stipulated minimum salary.

What is the duration

Up to 1 year.

Is it renewable

Yes, upon meeting the renewal criteria

Passes for family

Available for certain family members of pass holders.

 

Employment Pass - www.mom.gov.sg/passes-and-permits/employment-pass

Who it is for

Foreign professionals with a job offer in Singapore who meet the eligibility criteria.

Who can apply

An employer or appointed employment agent needs to apply on behalf of the candidate.

Minimum salary

Fixed monthly salary of at least $3,300 (more experienced candidates need higher salaries).

What is the duration

The duration of the pass is as follows:

  • First-time candidates: up to 2 years
  • Renewals: up to 3 years

Is it renewable

Yes.

Passes for family

Available for eligible pass holders. 

 


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