Singaporean All-in-One Startup Hub

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Dr. Yaacob Ibrahim, the Minister for Communications and Information in Singapore, opened BASH (Build Amazing Startups Here), a one-stop startup space. This project, supported by the Infocomm Development Authority of Singapore’s (IDA) Infocomm Investments Pte Ltd (IIPL), integrates all actors in the startup process, including “accelerators, investors, incubators” and entrepreneurs, in once place.

Executive Deputy Chairman of IDA and Chairman of IIPL, Steve Leonard said of the initiative, “We have made great progress in having global partners such as the European accelerator Startupbootcamp set up a FinTech-focused operation here in Singapore. As part of Singapore’s journey to be a Smart Nation, we are also working on some really tough global challenges brought on by the inevitable trends of ageing population and urban density. That’s the purpose of having BASH, the go-to-place for tech builders, investors and innovators to do more great things together.” IIPL has similar initiatives in London and San Francisco, collaboration with which can facilitate overseas expansion of startups.

The physical space is located at Block 79 and is more than 25,000 square feet. The facility will contain a prototyping lab, mentorship and networking space. IIPL will provide local and global data sets to allow young innovators to contribute to solving global issues.

They will also run accelerator and mentoring programmes with partners such as Europe-based Startupbootcamp. Once teams participate in the acceleration programme, they will receive further guidance at BASH. The organization has so far developed its network of mentors for its acceleration programmes through a MentorFest.

The government also has a Memorandum of Understanding with Singapore Press Holdings and the accelerator Plug and Play to hold a corporate accelerator programme specifically for media startups.

As part of the launch, Draper Fisher Jurveston (DFJ) was also present to speak and share advice with successful tech startups in the area, such as HungryGoWhere and Zopim. IIPL also held a Tyro.VC competition for tech startups, shown on a reality show.

According to the IDA, “These activities signaled BASH’s significant role in bringing together local and global like-minded entrepreneurs, investors and corporations to exchange knowledge and co-create innovations and deals, contributing to the growing energy and vibrancy of Singapore’s tech entrepreneurial ecosystem.”

Source: Infocomm Development Authority of Singapore