| ACE.SG Corporate Newsletter |
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| Embracing Differences to Drive Value Creation: iGlobe Partners |
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The phrase no man is an island is very apt in the innovation world. Investors need founders as much as founders need them, founders need their superstar teams as much as the teams need the founders. The same can also be said for members of a Venture Capital investment team.
We recently caught up with Edmond Wong, Partner at iGlobe Partners, and Adalyn Yeap, Vice President, to learn more about what it means to recognize nuances and embrace differences to deliver outsized results and impact.
“VC tech investing is about spotting an unsolved big problem with a simple solution,” shares Edmond, crediting his vigorous training in Civil Engineering and Information Technology to equip in him a natural curiosity to problem solving.
From his prior experience working with various stakeholders across diverse cultures in Corporate Venture Capital, Edmond adds “it’s also about working to get the chemistry right and aligning to build great companies with an ultimate exit that rewards both founders and investors.”
Adalyn, on the other hand, came from the audit background.
“My transition from audit to investing was both deliberate and thoughtful,” she explains, “I wanted to make the shift from analyzing what has already happened to influencing what could happen in the future, an opportunity to proactively engage with drivers of innovation and business growth.”
“The jump to VC represents my commitment to being part of a dynamic field where I can leverage my financial expertise to catalyze technological progress and meaningful innovation,” she adds. |
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Despite their varied experiences, the dynamic duo works closely together. The most notable investment done jointly is Inkbit, a deep tech startup spun off from Massachusetts Institute of Technology that is transforming the world’s supply chain.
“The decision to invest in Inkbit was driven by both its innovative approach and its potential to address significant global challenges. Specifically, Inkbit’s on-demand 3D printing technology offers a strategic solution to disruptions in the global supply chain. Recent events, such as the blockage of the Suez Canal by a large container ship and the ongoing crisis with sea pirates in the Black Sea corridor, have highlighted the vulnerabilities in traditional manufacturing and distribution models (80% of world trades are seaborne). Inkbit's technology enables localized, on-demand production, reducing reliance on complex and often fragile global supply chains,” Edmond explains.
A large part of going deep to learn about foreign environments and how things work is something that Edmond is accustomed to.
Working closely with Edmond on cross-border VC deals, Adalyn began to appreciate differences in markets and how embracing them can open new doors of innovation and growth.
“Diving into tech investing, particularly in the realm of deep tech, has introduced a steep learning curve I still continue to navigate,” shares Adalyn, “Collaborating with industry experts has been indispensable and their deep insights and frontline perspectives are crucial in helping me make sense of complex innovations, assessing their practical impacts and market potential.”
“The goal whether you are investing in the US or Singapore is the same and that is to identify and nurture startups with the potential to scale and deliver impactful results. But investment approaches must be adapted to the distinct economic, regulatory, and cultural environments of each region,” tells Adalyn.
And on the portfolio management front, things are largely the same, in that there are plenty of subtle differences that one needs to consider when supporting the growth of the startups.
“The US market is relatively homogeneous, whereas Asia is a fragmented market which presents unique challenges that require a nuanced approach.”
“This is why when one of our portfolio companies, SWAT Mobility, a Singapore-based leader in smart mobility solutions, wanted to expand to Japan, we understood the necessity of having strong local investors and partners and introduced a top-tier Japanese VC to lead SWAT’s Series A financing round. Subsequently, in 2019, SWAT recruited its first Japanese Country Head, which significantly bolstered its local presence and operational capabilities.”
If there’s one big takeaway from chatting with them, it is this: it’s all about finding the right partner and building a deep and trusting relationship.
“While cash is king during this funding winter, founders must decide for themselves which investors to work with,” Adalyn quips. “This goes beyond mere acceptance of investment but also walking the entrepreneurial journey together through the ups and downs.” |
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Growth Beyond Borders: Expanding to Asia, Europe and the Middle East 30 July 2024 | 5.00pm - 8.00pm | The Meeting Point
If you are looking to take your startup overseas, join us on Tuesday, 30 July 2024, 5pm – 8pm to learn more about international markets like Japan (Fukuoka), Portugal, Spain, and the UAE.
Gain valuable insights into global market opportunities, receive expert guidance, and network with fellow founders on similar internationalisation journeys.
Learn from government agencies and embassies like:
• Soto Mizuno from Fukuoka City Government on the Japan, Fukuoka market • Maria Liew from aicep Portugal Global on the Portugal market • Ines Aznar Jimenez and Raul Saez Cabrera from Invest in Spain on the Spain market
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Kampung Spirit - Blast from the Past 31 July 2024 | 5.30pm - 8.30pm | LaunchPad @ one-north Blk 71 (corridor outside of Go!Mama)
Startups of Singapore, this one's for you!
Embrace the warmth of the Kampung Spirit as we bring together the brightest minds in this community get-together.
Join us in an evening of communal feasting here at the heart of Singapore's startup ecosystem, where you'll have the chance to ✨ Mingle ✨ Share ideas ✨ Form lasting connections |
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| ACE.SG Entrepreneurship Courses |
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| Series of Physical Events for ACE.SG Hybrid Startup Career Fair |
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Fireside Chat: Career Opportunities in this Rapidly Evolving Innovation Landscape 20 August 2024 | 3.00pm - 4.30pm | ACE Ideation Centre
Gaining any head start, new insights or information can be invaluable in an increasingly competitive job market.
We understand this, which is why we have invited an excellent panel: James Miles, COO of TalentHero, Gang Lee, Founder & CEO of ELGO Technologies, and Lewis Liu, Director of Crowdsense. These leaders come from diverse backgrounds, offering valuable, unique and comprehensive viewpoints on a wide spectrum of topics - from remote job opportunities, to working in startups, and even charting your career in the public sector.
This event is part of our Hybrid Startup Career Fair.
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Workshop - Talent Management 22 August 2024 | 3.00pm - 5.00pm | ACE Ideation Centre
Join us at our Hybrid Startup Career Fair on 22 August 2024, 3-5pm for an insightful Talent Management Workshop led by Thyag Venkatesan, the co-founder & CEO of Virkware, a leader in the future of work.
In this workshop, you’ll learn: • How to adapt talent management strategies as your startup grows • The evolving priorities in talent management at different funding stages • Practical insights to navigate the startup job market.
Whether you are a founder or aspiring to start your career in a startup, this workshop is packed with valuable knowledge to help you succeed. |
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Fireside Chat: Navigating the Early Career Maze: Startups vs Large Corporations 30 August 2024 | 10.00am - 12.00pm | ACE Ideation Centre
Entrepreneurship in Singapore today is nothing like it was just slightly over 20 years ago. Starting your own business is seen as an overly risky undertaking that is hardly considered and a huge taboo. Most would prefer working for a multinational company, the public sector for the proverbial iron rice bowl. While much has changed and founding a company is viewed way more favourably these days, the foundational, fundamental questions haven’t changed. For those early in their careers, they still must grapple with their own decision-making – as after all, working for a startup might make sense for one but not another. For an individual, the choice is more nuanced than that, context matters, and we all have different priorities in life. Join us for a special session with Anthony So, co-founder and CEO of OnMyGrad and Frank Koo, the former Head of Asia -Talent and Learning Solutions at LinkedIn to gain insights to help in your consideration to navigate your early career path. |
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Startup Kiosks at SWITCH 2024
Apply for your Startup Kiosk at Singapore’s biggest Deep Tech & Startup Conference today! The reserved kiosk slots are strategically located behind the registration and in the middle of the conference for maximum footfall to maximise your visibility. The Singapore Week Of Innovation and Technology 2024 is the nation’s biggest global tech innovation festival that’s set to attract over 20,000 attendees from over 100 this year. You will be entitled to One complimentary Delegation Pass per kiosk for a specially curated experience with plenty of though-leadership, Asian-centric content on some of the world’s biggest innovation trends in Health and Biomed, Digital Tech, Manufacturing, and more. These are complemented with sectorial innovation showcase, masterclasses, and plenty of networking to drive business collaborations and deals. |
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ACE.SG Incubator
Are you an aspiring entrepreneur or an early-stage startup? Join our upcoming ACE.SG Incubator Programme to kickstart or grow your business!
Through this 3-month equity-free programme, convert your ideas into a strong business model!
Access: - Access to funding from our VC Partners
- Expert Workshops
- Tailored 1-1 Workshops
- Access to ACE.SG's network
- Complimentary Co-working space
- Access to Startup SG Grant (Up to $50,000)
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Global Ready Talent Programme
Looking to grow your team with inspiring interns?
This Global Ready Talent Programme is your channel to tap on EnterpriseSG's funding to develop your talent pipeline of interns from local Institutes of Higher Learning. Participating startups can receive funding support up to 50% of the students' monthly internship stipends. |
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ACE.SG Membership Reboot
Good News!
After a challenging year, ACE.SG startup membership is now Complimentary, with effect from January 2024!
We are confident this presents new opportunities for startups in the ecosystem to network and build synergies that will, in the long run, help more founders succeed in their entrepreneurial journeys and to further uplift the startup ecosystem. |
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ACE.SG Job Openings ACE is expanding and we are looking for people who are passionate about building the Singapore startup and innovation ecosystem! Openings: - Receptionist
- Assistant Manager/Manager, Innovation and Partnerships
- Interns
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Book a coworking space with ACE.SG
We hear you! ACE is opening up our office at Block 67 to cater to companies and individuals who require coworking spaces.
For more information, please email space@ace.sg. |
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Event Spaces for Rent
Are you looking for spaces to host your next event? ACE offers three event spaces that could meet your needs, both during and after office hours.
For large-scale events/workshops, the ACE Ideation Centre can accommodate up to 80 persons. Meanwhile, the ACE Innovation and Inspiration rooms are perfect for small group discussions and meetings.
These spaces are conveniently located on the ground floor of Block 79 at the LaunchPad @ one-north, right opposite the one-north MRT station.
For more information or enquiries, please send an email to space@ace.sg |
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Our mailing address is: Action Community for Entrepreneurship (ACE) Ltd 67 Ayer Rajah Crescent, #04-16 JTC LaunchPad @ one-north Singapore 139950
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