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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. It 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 this entrepreneurship initiative, SIM has launched Platform E, a comprehensive ecosystem that provides all the essential support for start-ups. What sets it apart is its focus on nurturing both the aspiring entrepreneurs and their ideas.

Platform E integrates entrepreneur training, idea incubation and acceleration of start-ups within a co-working space offering professional corporate services and a wide network of coaches, mentors, peers and investors. In short, Platform E is 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”.

Heading the platform is CEO Alan Wong, 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.

Explaining the rationale for Platform E, Alan says, “We believe 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 launch with two entrepreneurship programmes, a 12-month and a four-month track, targeted at aspiring and mid-journey entrepreneurs respectively.

Leading the programme development will be Professor Virginia Cha, an active researcher, educator, mentor and angel investor in Singapore’s entrepreneurship ecosystem with 32 years of executive management role in technology companies.

Platform E will be located at the SIM Management House in Namly Avenue with 25,000 square feet of space dedicated to 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.

For more information, visit platformE.asia


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