Private-led initiative unveiled to help Singapore startups gain international traction

Private-led Action Community for Entrepreneurship (ACE) has signed a deal with KPMG and has launched their international centre to help Singapore Government support local startups.

Container ships are seen in the Singapore Strait against the backdrop of the financial district. REUTERS

In the efforts to supplement the Singapore Government's support for local startups, the national private-led organisation Action Community for Entrepreneurship (ACE) has launched their own international centre (ACEIC)

This centre is dedicated to be a one-stop centre to support these startups as they go for international growth and expansion.

It will be assisting Singapore-based startups in connecting to new networks, partners, and overseas markets and in accessing tailored programmes such as market awareness workshops and curated networking sessions.

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According to a statement released by the ACE, the centre is fully supported by IE Singapore, JTC, and SPRING Singapore. It will be catering to startups from industries such as Media, Engineering, Biomedical, Information Communications Technologies, Financial Technology, and Urban Solutions.

The centre is situated at the heart of the JTC LaunchPad @ one-north, with already more than 800 startups and 50 enablers.

ACE Executive Director Edmas Neo said the launch of the centre builds on the group's existing established network of startups, accelerators, and venture capitalist, enabling them to launch an international platform.

"We are confident that ACEIC will play a vital role in serving the globalization needs of both domestic and international startups based in Singapore and further solidify our foundation as an international business hub for entrepreneurship and place Singapore at the frontier of the global digital economy," he said.

As part of the group's ambition to establish strategic collaborations with local and international partners, it has signed a deal with KPMG.

According to KPMG Digital Village Head Jan Reinmueller, the deal will allow ACE to work with KPMG to collaborate on setting up a regional co-innovation hub in Singapore, with the objective of driving co-innovation between startups and enterprises.

"Whether it's helping startups solve real business challenges via corporate accelerators, or supporting the enterprises' innovation journey, we will be working closely with ACE to grow it into the largest co-innovation hub in the region, and possibly the world," he explained.