The program cultivates over 300 aspiring entrepreneurs, business news and top stories

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An initiative to support aspiring entrepreneurs has supported over 300 participants since it was founded six months ago.

So far, almost half of these participants have graduated from Enterprise Singapore’s (ESG) Startup SG Founder Venture Building programs.

Around 80 percent are young professionals, managers, executives, and technicians (PMETs) from a variety of sectors including hospitality, education, social enterprise, and technology.

The remaining fifth are fresh graduates with backgrounds in business, engineering, architecture, psychology and data analysis, ESG said yesterday.

The three-month venture building programs announced last August are part of the expanded Startup SG Founder program designed to empower aspiring entrepreneurs with no business experience to build and scale innovative startups.

This is done through specially curated modules that focus on critical areas such as business models, digital marketing and fundraising.

Participants will also be mentored by experienced entrepreneurs and industry veterans who will enable them to get market feedback early on on their business ideas with potential customers.

The programs are run with support from Nanyang Technological University (NTU), National University of Singapore, Singapore Management University, Singapore University of Technology and Design, and Singapore University of Social Sciences.

Trade and Industry Minister Chan Chun Sing said it was “very gratifying” to see that the program has many PMETs as well as new graduates.

“So we have a good mix of young people who have been letting their ideas germinate since college and mid-career people who are embarking on a new career path, starting startups with their partners and then building businesses around create more jobs for other Singaporeans, “he said.

He spoke to reporters after an event that took place yesterday in a hybrid format that allowed 14 graduate teams to present their start-up ideas to a jury.

The event, organized by ESG, took place in the JustCo co-working space in Marina Square and was also streamed live online.

Mr. Chan noted that Singapore has expanded its Global Innovation Alliance network – comprised of Singapore and overseas partners in key innovation hubs and key demand markets – with an emphasis on technology and innovation.

“We will be taking feedback … and will continue to explore possible new partnerships with other cities,” he said.

Five winning teams were selected at yesterday’s event. They each received nearly $ 40,000 worth of launch resources and support, such as: B. Co-working spaces and enterprise tools.

One idea was an early childhood edutech platform with voice-controlled interactive stories that parents can use to track the child’s learning progress.

Ms. Melissa Ng, 30, founder of Hummus Education, said the goal is to create mixed online and offline learning experiences for young children.

For example, children can choose how a story unfolds with verbal commands, while receiving cues for offline activities.

Although the team wasn’t selected as the winner, Ms. Ng said she still has plans to research content in other languages ​​and expand into other countries.

Ms. Ng graduated from NTU in 2009 with a double degree in accounting and business administration (marketing). She joined a local bank for six years, deepening her knowledge of product management, marketing and business development.

She later did a full-time Master of Education (developmental psychology) in 2019.

Ms. Ng said, “I want to encourage others out there who are considering stepping out of their comfort zones to venture into entrepreneurship, or even change paths.

“Yes, there is sacrifice (to be made) and uncertainty, but it is a journey and we learn from failure and success.”