Singapore company registration specialist Rikvin is optimistic that the newly-launched ACE Mentoring Program, in tandem with the ACE Startups Grant, will give budding entrepreneurs a leg up as they embark on their first business venture and create sustainable operations which add value to workers in Singapore.
Action Community for Entrepreneurship (ACE) Startups, a public-private sector collaborative unit which aims to spur entrepreneurship in Singapore, has just launched a new mentoring program to assist budding entrepreneurs through their first steps in Singapore company setup.
Singapore company formation specialist, Rikvin, is optimistic that the ACE Mentoring Program, in tandem with the ACE Startups Grant, will not only guide new entrepreneurs through their formative year and help them create sustainable businesses; it may motivate other aspiring entrepreneurs in Singapore to take the entrepreneurial leap as well and establish their very own businesses.
In gist, the ACE Mentoring Program places every new ACE startup under the tutelage of an experienced mentor over a one-year period. As the pool of mentors range from serial entrepreneurs to angel investors from a wide spectrum of industries, the program then allows aspiring entrepreneurs to tap the expertise of key decision makers and hit the ground running after they have completed the program.
Furthermore, as the ACE Mentoring Program comes in tandem with funding supplied under the ACE Startups Grant, firms under ACE’s wing stand to benefit from the requisite funding needed to catalyze their growth in the initial setup stages.
The ACE Startups Grant, which has been introduced in January 2012 in place of the Young Entrepreneurs Scheme for Start-ups (YES! Start-ups) Scheme provides funding support of up to S$50,000 to first-time entrepreneurs (Singaporean citizens and Singapore permanent residents) who meet the applicant and company eligibility criterias for the grant.
Adding his comments, Mr. Satish Bakhda, General Manager and Head of Rikvin’s Operations said, “Even though the ACE Mentoring Program and Startups Grant are open only to Singaporeans and Permanent Residents, foreign professionals stand to benefit as well. The Program, when well executed, can help create more sustainable businesses in Singapore and influence other entrepreneurial individuals to take cue.”
“While this ripple effect may require some time to grow into fruition, we anticipate that this Program will play a part in expanding the economic pie for everyone, especially talented PMEs in Singapore and those from abroad who can complement our workforce. This could in turn manifest a positive cyclical effect which sees even more Singapore company formation and white to gold collar professionals opting for the Personalized employment pass or other types of Singapore work visas,” added Mr. Bakhda.