Singapore's Minister for Communications and Information, Dr Yaacob Ibrahim at the launch of BASH
Living up to its reputation of being one of the world's hottest startup hotspots, Singapore today added one more facility for new startups: BASH (Build Amazing Startups Here), at Block 79 JTC LaunchPad @ one-north, in the heart of Singapore's research and media district.
With this launch, BASH becomes Singapore's biggest integrated startup space with the capability of congregating members and partners of the tech building community across the entire value chain - from accelerators, investors, incubators to entrepreneurs - all under one roof.
BASH is an initiative driven by Infocomm Investments Pte Ltd (IIPL), the investment arm of Infocomm Development Authority of Singapore (IDA).
Spanning across more than 25,000 square feet on Level 3 of Block 79, IIPL will leverage the extensive space and provide all the necessary facilities including a prototyping lab, valuable mentorship and community networks to grow promising, innovation driven tech product startups from ideation, acceleration, incubation to expansion.
Building a vibrant start-up ecosystem
Inaugurating the facility was Singapore's Minister for Communications and Information, Dr Yaacob Ibrahim.
"As Singapore builds itself into a Smart Nation, there are immense opportunities for individuals and businesses alike," said Dr. Ibrahim in his opening remarks. "Everyone, especially the tech startups, has a role to play in creating new services, products and valuable knowledge-based jobs. However, we recognize that young startups face various challenges to turn their ideas into fruition. A conducive ecosystem could help them to succeed."
He said that the Singapore government is committed to building the country's tech entrepreneurial ecosystem. "Our aim is to cultivate startup growth through the value chain, from ideation, acceleration, incubation to expansion to build a strong pipeline of Singapore tech start-ups," he said.
In his speech, he singled out Glint, a career-discovery and development platform founded by three young Singaporeans, for praise. The founders choose to focus on their startup at the cost of higher education in the US, and have successfully secured seed funding of $475,000 today, he said. They have graduated from the local incubator, Joyful Frog Digital Incubator (JFDI).
The founders will also be the first startup team to benefit from BASH, where they will continue building their product and business under the mentorship of IIPL and other partners.
Boost for FinTech and Media startups
Dr. Ibrahim mentioned recent achievements of IIPL such as its bringing into Singapore in May of the European leading financial technology accelerator Startupbootcamp FinTech to build FinTech startups at BASH.
Similarly, he highlighted that IIPL has signed a Memorandum of Understanding with Singapore media company SPH and California-headquartered global accelerator, Plug and Play, to run its first corporate accelerator programme for Singapore-based digital media startups.
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