A fast-evolving startup landscape has drawn a significant number of investors, such as venture capitalists, private equity companies, and ultra-high-net-worth individuals, to Singapore from around the globe.

The island nation’s strategic geographical location, world-class infrastructure, and conducive business environment have contributed to this accomplishment, turning it into one of the most preferred destinations. The government has been actively supporting the local startup ecosystem through various initiatives such as grants, tax incentives, and co-investment schemes.

The growth of the local venture capital (VC) landscape over the past few years has been particularly inspiring. Singapore now has over 1,100 VC funds from Asia, Europe, and the US, supporting startups and young entrepreneurs working in verticals, spanning e-commerce, fintech, biotech, artificial intelligence, Web3, blockchain, climate tech, and sustainability, among many other industries.

This spectacular growth has kindled local students’ interest in the VC investment space. Students are now keen to pursue a career in VC and take direct entry into the VC world. However, navigating the VC landscape and establishing a name for oneself is easier said than done because of the complex nature of the industry. One needs to possess the proper skills, knowledge, and experience to make sound judgments, pick promising startups, and take calculated risks while investing in a startup.

But this does not come easy.

Fortunately, several local universities and colleges in Singapore have come forward with a solution to address this challenge by offering courses and programs focusing on venture capital, entrepreneurship, and innovation. The aim is to equip students with the right skills to succeed in VC. It also aligns well with the nation’s goal of becoming a true startup nation.

Also Read: Startups in Singapore raise US$121M over 12 rounds in Sept: Tracxn report

NUS and SMU leading from the front

Singapore’s universities have long been actively fostering entrepreneurship and innovation among students. They have produced several highly successful student startups, such as Carousell, ShopBack, and PatSnap, and they grew big, raising multi-million dollar investments from regional and global VCs.

Among the universities offering VC and entrepreneurship courses are two premier institutions, the National University of Singapore (NUS) and Singapore Management University (SMU).

The NUS offers an undergraduate course in VC and private equity that covers topics such as deal sourcing, due diligence, and portfolio management. In addition, it has set up the NUS Entrepreneurship Centre and the NUS Overseas Colleges program.

Similarly, the SMU offers the Business Innovations Generator (BIG) programme, which provides students with mentorship, funding, and access to resources to help them develop and launch their start-ups. Besides, its entrepreneurship and VC courses provide opportunities for students to gain hands-on experience through internships and other experiential learning programs.

Apart from these, many other tertiary institutions provide programs, resources and opportunities for students to connect with prominent venture capitalists and entrepreneurs in the island nation. For example, some universities host events and conferences that bring together entrepreneurs, investors, and students.

These meetups allow students to network, learn from industry experts, and gain valuable insights into venture capital. Other than these, there are institutes that help students enter the VC world by providing access to funding and mentorship.

Also Read: Navigating wealth management: The emergence of new family offices in Singapore

Some universities have gone a step ahead by setting up venture funds to support early-stage companies founded by students and alumni. Protégé Ventures and NUS Alumni Ventures are two shining examples.

Launched in 2017, Protégé Ventures is Southeast Asia’s first and Singapore’s only student Venture Capital (VC) fund. A sector-agnostic fund, this SMU-backed fund invests in early-stage tech startups founded by students or recent graduates raising their pre-seed to seed rounds. In addition to helping student entrepreneurs build scalable ventures, it also trains the brightest young minds to be VC-ready.

To date, Protégé Ventures has backed ten startups that have collectively raised over SG$35 (US$2.21) million from notable institutional investors. Protégé Ventures also recently announced the launch of their second fund at the Lee Kuan Yew Global Business Plan Competition in September.

On the other hand, NUS Alumni Ventures – established in 2020 – is Southeast Asia’s first student alumni-run angel investment network. It is a community created by NUS students and alumni that seeks to strengthen the NUS and Southeast Asia startup community by fostering relationships and support amongst students, entrepreneurs and investors.

These two funds provide students with the financial support required to get their businesses off the ground and access to mentorship and guidance from experienced entrepreneurs and investors.
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During the COVID-19 pandemic, the demand for these two funds grew significantly, with a 60% rise in applications.

All these initiatives point to the fact that tertiary institutions play a crucial role in helping students enter the world of VC in Singapore. As it gains momentum and the industry continues to grow and evolve, students should be able to get easy access to the knowledge, skills, and resources required to succeed in this industry.

With the right guidance and support, the next generation of venture capitalists in Singapore is poised to make a big impact on entrepreneurship and innovation.

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Algenesis Corporation, a plant-based material science company in the US, has secured US$5 million in a seed funding round co-led by First Bight Ventures and Singapore-based Circulate Capital.

MIH Capital, Diamond Sports Group, and RhinoShield also participated.

The investment follows a US$5 million grant from the US Department of Energy to scale up the production of bio-based isocyanates from algae oils using a green-flow chemistry process.

Also Read: IFC, French firm Proparco back impact investor Circulate Capital’s ocean fund

Algenesis develops bio-based plastics using its patented Soleic technology, which it claims is the world’s first renewable, high-performance, fully biodegradable, backyard compostable bioPolyurethane (bioPU) made from plants and algae.

Unlike petroleum-based PU, Algenesis’s Soleic bioPU can biodegrade in compost within a matter of months and does not contain harmful PFAS chemical additives found in other plastics. The company claims its production process further leads to up to 50 per cent lower GHG emissions than petroleum PU.

The Soleic PU is currently available in soft foam applications, such as midsoles and insoles for footwear.

Also Read: Lack of visibility, track record deter VCs from investing in firms combating plastic pollution: Rob Kaplan of Circulate Capital

The startup will use the new funds to expand Soleic product lines into breathable waterproof textiles and injection moulded products like phone cases. It also plans to expand and strengthen its supply chain by bringing more of its processes in-house to scale production and commercialisation of these materials that are increasingly in demand by various consumer-facing brands, further cementing its position as a leader in eco-innovation.

“We invest in industrial biomanufacturing and Algenesis is an excellent representation of new companies creating a highly demanded product, such as bioPU, that come from Biology versus Petroleum. This is a win for the industry, sustainability, and the world,” said First Bight Ventures Founder Veronica Wu. “To save our planet and ourselves, we must move away from petroleum-based plastics and toward bio-based alternatives. Algenesis is clearly at the forefront of making this possible.”

Today, 25 million tons of PU are manufactured annually (6 per cent of total plastics) for extensive use across footwear, medical, and textile industries. Due to the material’s composition, PU is hard to recycle and primarily ends up in landfills or as microplastics in the environment.

Also Read: Reciki raises funding from Circulate Capital to set up new waste management facilities in Indonesia

Circulate Capital is an environmental impact investor advancing the circular economy for plastics in high-growth markets – with activities and teams in over ten countries. Launched in 2018, the firm is scaling solutions across the recycling and innovative materials value chains. Founded in and focused initially on South and Southeast Asia, the firm now targets untapped opportunities in high-growth markets to spark further development in the emerging circular economy.

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YouTrip, a Singapore-based fintech company providing multicurrency wallets, has secured US$50 million in a Series B round of financing led by Lightspeed Venture Partners.

This brings the company’s total funding raised since its inception in 2018 to US$100 million.

YouTrip will use the Series B capital to accelerate growth and expansion plans by launching new products and features that complement its existing offerings. The company also plans to expand into new markets, including Indonesia, Malaysia, the Philippines, and Vietnam.

Also Read: YouTrip raises US$30M to expand to B2B space, enter new markets

A portion of the funds will be invested in technology to make the products more user-intuitive and reliable.

“YouTrip launched in 2018 with the bold vision to empower everyone with a smarter and more convenient way to pay in foreign currency. We achieved tremendous growth despite the pandemic, strengthening our position as the region’s leading digital payment solutions for consumers and businesses,” said CEO and Co-Founder Caecilia Chu.

Licensed by the Monetary Authority of Singapore, YouTrip offers services such as payments, foreign exchange, remittances and cards. Its multi-currency mobile wallet with a prepaid Mastercard lets users shop online and offline worldwide with zero FX fees. Users can use the wallet in over 150 countries and withdraw cash from overseas ATMs (only available for Singapore app users).

Also Read: Multi-currency e-wallet YouTrip secures US$25.5m funding

The fintech firm claims to have processed about US$10 billion in annualised transaction volume to date.

In 2021, YouTrip announced a US$30 million Series A funding round from undisclosed investors, including returning investors from Asian family offices and fintech investors. Since then, its e-commerce payment volume has grown 238 per cent in annualised transactions.

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In its latest report on global fintech funding, McKinsey revealed that global fintech funding faced a 40 per cent year-over-year funding decline from US$92 billion to US$55 billion after industry funding increased by 177 per cent YoY in 2021.

However, the report also stressed that when analysed over a five-year period, fintech funding as a proportion of total VC funding remained fairly stable at 12 per cent, registering only a 0.5 percentage point decline in 2022.

“In 2022, a market correction triggered a slowdown in this explosive growth momentum. The impact continues to be felt today. Funding and deal activity have declined across the board, and there are fewer IPOs and SPAC (special purpose acquisition company) listings, as well as a decline in new unicorn creation. The macro environment also remains challenging and uncertain,” the report explained.

“In such a scenario, fintechs are entering a new era of value creation. The last era was all about firms being experimental—taking risks and pursuing growth at all costs. In the new era, a challenged funding environment means fintechs can no longer afford to sprint. To remain competitive, they must run at a slower and steadier pace.”

Also Read: 

The report also revealed that as of July, publicly traded fintech companies represented a market capitalisation of US$550 billion, a two-times increase versus 2019.

“In addition, as of the same period, there were more than 272 fintech unicorns, with a combined valuation of US$936 billion, a sevenfold increase from 39 firms valued at US$1 billion or more five years ago,” it stated.

When it comes to market-specific insight, the report mentioned that emerging markets will “fuel” the majority of the revenue growth for fintech companies.

“Fintech revenues in Asia Pacific (excluding China), Africa, Latin America and the Middle East represented 15 per cent of fintech’s global revenues last year. McKinsey estimates that they will increase to 29 per cent in aggregate by 2028,” it stated.

The report also spotlighted new tech innovation related to fintech and how it will affect the industry in general.

“To capture the extra US$200 billion to US$340 billion generative AI adds to overall banking revenues, fintechs need to include a medium to long-term talent strategy and find ways to emphasise change management and adoption,” it stated.

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Flux Series: Marketing Leaders is happening at the St. Regis in Jakarta, Indonesia, on 15 November 2023. Are you working in the field of marketing? Don’t miss out on this focused and curated event designed especially for marketing professionals!

Visit Flux Series: Marketing Leaders for more information! Read on to get discounted tickets.

Partnerships are the cornerstone of success in any venture, and the forthcoming Flux Series: Marketing Leaders event exemplifies this principle. The Flux Series offers an exclusive platform for industry trailblazers to engage in immersive learning sessions, granting access to industry knowledge and actionable strategies that can fuel sustainable growth and profitability for your brand.

Set against the elegant backdrop of the St. Regis in Jakarta, Indonesia, on November 15, 2023, the inaugural edition of the Flux Series promises to bring together influential marketing leaders. Their mission: to deliberate, brainstorm, and formulate actionable strategies for optimising marketing endeavors through AI-driven innovations and cutting-edge technology, all with the goal of achieving fresh marketing milestones for your company.

Also read: Learn how to Harness AI for cost-efficient strategies with GDP Labs CEO & CTO

Within Flux Series: Marketing Leaders, attendees can anticipate enlightening keynote speeches, dynamic panel discussions, and hands-on workshops covering an array of topics surrounding the complex world of marketing. These sessions will delve into harnessing artificial intelligence to fortify marketing initiatives, cultivate deeper connections with customers, and explore the latest trends in technology.

Partners that are committed to our mission

Sponsors hold a pivotal role in the triumph of Flux Series: Marketing Leaders on multiple fronts. Firstly, they extend diverse forms of support and coverage for the various facets that make the event an enriching and exhilarating experience for participants.

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Get discounted tickets today!

Equally significant is the presence of sponsors at the event. This creates invaluable networking opportunities for attendees to acquaint themselves with the products and services on offer. This facet aligns seamlessly with the core purpose of the Flux Series — to serve as a curated gathering for marketing leaders, fostering connections between all stakeholders. By championing Flux Series: Marketing Leaders, participants can engage with fellow marketing professionals, gaining access to industry best practices and actionable wisdom, ultimately forging novel partnerships and collaborations poised to propel business growth and triumph.

Meet Braze at Flux Series: Marketing Leaders

Braze is a leading comprehensive customer engagement platform that powers interactions between consumers and the brands they love. With Braze, global brands can ingest and process customer data in real-time, orchestrate and optimise contextually relevant, cross-channel marketing campaigns and continuously evolve their customer engagement strategies.

Braze’s mission is driven by the company’s passion for fostering meaningful connections between consumers and their cherished brands.

Also read: Taking customer engagement to the next level with hyper-personalisation

“Our participation in Flux Series 2023 signifies our commitment to this mission. At the event, we eagerly anticipate engaging with top marketing leaders to delve into the future of customer engagement. This collaborative experience will inspire us to enhance our ability to assist our clients in strengthening their connections with consumers, keeping them at the forefront of the evolving marketing landscape,” shared Germaine Thomas, Field Marketing Manager at Braze.

At the Flux Series: Marketing Leaders happening in Jakarta, Braze will be engaging in thought-provoking conversations with marketing leaders to discuss the future of marketing and customer engagement. “Additionally, as we have a dedicated Braze office in Indonesia now, we’re eager to support and connect with our community in the region, strengthening our local relationships and collaborations,” added Thomas.

Join Flux Series: Marketing Leaders

Flux Series: Marketing Leaders goes beyond conventional learning environments by providing a curated selection of growth-oriented content stages. These stages serve as dynamic platforms where attendees gain invaluable knowledge on how to leverage disruptive technologies and harness the power of AI to supercharge their marketing efforts. Here, participants get to immerse in active knowledge-sharing guided by industry trailblazers who will be lending their expertise and experiences. From decoding AI-powered tools to unveiling transformative marketing strategies, these content stages are designed to equip marketers with actionable insights that can be seamlessly integrated into their business strategies.

Also read: Adjust: Leader in app marketing will be at Flux Series!

For marketing leaders aiming to elevate their company’s marketing goals, Flux Series: Marketing Leaders is a must-attend event. Join us in Jakarta on November 15, 2023, for a day of insightful discussions, interactive workshops, and unparalleled networking opportunities that will reshape the way you approach marketing in the digital age.

Join the Flux Series or become our partner and be a driving force in the AI-powered marketing revolution. To learn more about the event, you may visit the official Flux Series: Marketing Leaders page.

Get ready to embark on a journey that will not only deepen your understanding of AI-driven marketing but also equip you with the actionable insights needed to thrive in the dynamic world of modern marketing.

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