In a bid to help its startups access overseas markets and become global players, the Action Community for Entrepreneurship (ACE), a public-private sector collaborative unit which aims to spur entrepreneurship in Singapore, has just launched its first overseas chapter in Beijing.
Just last month, ACE launched the ACE Mentoring Program to complement the ACE Startups Grant. ACE Startups was initiated to help entrepreneurial Singaporeans take the first step to start and build their first business, an in turn, to create valued jobs for Singaporeans. ACE’s mentoring program, on the other hand, was designed to help ACE Startups grow sustainably with mentoring during their first year of operations.
While the mentoring and funding initiatives form two of ACE’s five strategic thrusts, the ACE Beijing Chapter represents the third. The other two thrusts are networking and communications.
Singapore company registration specialist, Rikvin, is optimistic that the Beijing Chapter will open up more opportunities for startups to go global.
First of all, as the largest market in the world in many areas, China offers attractive business opportunities. Singapore companies can expect opportunities in a wide range of sectors as the demand for quality goods and services increase in China, in tandem with rapid urbanization and a growing middle class population.
Secondly, Beijing offers an ideal soft landing platform for Singapore entrepreneurs and their mentors to improve their chances of success.
Mr. Satish Bakhda, General Manager and Head of Rikvin’s Operations said, “The ACE Beijing Chapter acts as a bridge between Singapore startups targeting the global market and the networks in China. Entrepreneurs should take advantage of such opportunities to make internationalization part of their growth strategy right from the early stages of their business development so that they can sustain their business over the longer term.”
The ACE Beijing Chapter is the first overseas chapter to be launched by the ACE Overseas Chapter Subcommittee. First-time entrepreneurs may tap funding by applying via the ACE Startups Scheme.The model will be replicated in other cities.
Adding his comments, Mr. Bakhda said, “Even though the ACE Startups Program is open only to Singaporeans and Permanent Residents, foreign professionals stand to benefit as well. The Program can help create more sustainable businesses in Singapore and influence other entrepreneurial individuals to take cue.”
“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.