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SIM to invest $50m to support entrepreneurship

07 Dec 2016

The Singapore Institute of Management (SIM) is investing $50 million to support the development of future entrepreneurs. SIM will adopt a multi-pronged approach to eventually include initiatives to facilitate business start-ups, help small businesses scale up as well as fund promising ventures.

To kick-start its entrepreneurship initiative, SIM has launched Platform E, a comprehensive ecosystem that provides all the essential support for start-up success with a focus on nurturing both the aspiring entrepreneurs and their ideas.

Platform E integrates under one roof the training and equipping of entrepreneurs, incubating of business ideas and the acceleration of go-to-market start-ups, supported by a robust ecosystem of co-working space with professional corporate services and a wide network of coaches, mentors, peers and investors. In short, Platform E offers a one-stop platform that enables the entrepreneur to start with an idea and graduate with a business.

In announcing the $50 million entrepreneurship initiative, Chairman of its Board of Directors and Member of SIM’s Governing Council, Mr Tan Choon Seng said, “As we move into a future of even greater market disruptions, entrepreneurship and innovation will be a key engine of economic growth. Platform E is SIM’s first move to support Singapore’s push in the new economy.

Our philosophy is to cultivate a long-term relationship with entrepreneurs so that we can continue to support them as they scale up and grow.”

SIM brings to the new venture its experience and reputation in education and professional development as well as over 50 years of its own entrepreneurial experience and strong industry connections.

Focus on the Entrepreneur
Instead of just focussing on bringing the business idea to fruition, Platform E is unique in that it focusses on the growth and development of both the idea and the entrepreneur behind the idea.

Expounding on this, Alan Wong, CEO of Platform E, said, “We believe that entrepreneurship is a lifelong journey and that any good entrepreneurship programme must help the individual acquire deep business and leadership skills, and more importantly, inculcate in him the fortitude to take on and sustain a long and challenging journey.

Platform E will equip the entrepreneur not just to run his own businesses but to also take on the role of an intrapreneur within an organisation.”

Alan is a veteran business advisor and serial entrepreneur who brings with him a unique blend of 20 years in both entrepreneurial start-ups and C-level experience in large organisations such as Cable & Wireless and Huawei Devices. He has a proven track record in delivering results for businesses in the region and whose start-ups have been invested in by large global MNCs.

Two Entrepreneurship Tracks
To encourage entrepreneurship across all sectors of the economy, Platform E will be open to innovations and start-ups across all industries.

It will launch in April 2017 two entrepreneurship tracks, a 12-month and a four-month programme, targeted at aspiring and mid-journey entrepreneurs respectively.

Both tracks are practical programmes that interleave the deepening of knowledge and skills with hands-on work on building start-ups under the guidance and mentorship of domain experts and experienced entrepreneurs.

Co-working Space at Namly, Bukit Timah
Platform E will be located at the SIM Management House in Namly Avenue where there will be 25,000 square feet of dedicated co-working space for entrepreneurs and start-ups. It will provide a habitat for like-minded entrepreneurs to germinate and cross-pollinate ideas, and to test solutions that will lead to viable business propositions.

The space will also be rented out as commercial co-working space to non-programme participants to add to the vibrancy of the community.

Platform E will collaborate with global partners to provide its entrepreneurs access to markets beyond Singapore as well as bring in entrepreneurs who are interested in penetrating Singapore and the region.

Members of public can find out more about Platform E via its website or email


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