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Need help building and growing your startup? Here is a list of accelerators in Singapore

Ever thought of being an entrepreneur but unsure where to start? Cohort-based accelerators are one such option, with each their strengths and specialisations

Previously I wrote an article in 2016, listing all the different accelerators which have arrived to Singapore’s shores. There are new entries and exits since then. So look below for the list as you consider applying for them.

AirMaker

  • Speciality: Internet of Things (IoT) with Digital Health and Smart Cities focus
  • Major partners/shareholders: Ascendas-Singbridge, SGInnovate, Runyang Group
  • Duration of program: 3 months – 2 months in Singapore and 1 month in Shenzhen, China.
  • Frequency of program per year: 1
  • Next enrolment date: Applications closed May 18. Next date TBA.
  • Investment amount/Equity stake: S$35,000 for 7%

From the website: AIRmaker is an IoT-focused cross-border accelerator programme that connects start-ups with two of Asia’s most vibrant innovation ecosystems, Singapore and Shenzhen. It leverages on the network and resources of their founding partners, namely Ascendas-Singbridge, SGInnovate and Runyang Group to support IoT start-ups from business validation, product sourcing, manufacturing, up to distribution and expansion.

Entrepreneur First

  • Speciality: Deep technology companies (companies where the core focus is building new technology, e.g. machine learning, simulation and graphics/VR, aerospace, robotics)
  • Major partners/shareholders: Greylock Partners, Mosaic Ventures, Founders Fund, Lakestar
  • Duration of program: 6 months
  • Frequency of program per year: 2
  • Next enrolment date: Applications open now. Programme starts 29th January 2019.
  • Investment/Equity stake: S$5k per month per founder for 3 months (S$15k total per founder), S$75,000 if your company is offered a place on EF Launch

From the website: Entrepreneur First (EF) isn’t a traditional ‘accelerator’. EF supports the best, most ambitious computer scientists and engineers to build deep-technology companies from scratch. You don’t need a team or fixed idea to apply. Over 3 months EF helps you find a co-founder, develop your idea, get customers, and raise funding from top investors. EF alumni companies are worth more than $1B and their investors include everyone from Y Combinator to Index Ventures.

Modern Aging Accelerator

  • Speciality: Technology for Aging Market
  • Major partners/shareholders: Access Health International, NUS Enterprise, Duke NUS Medical School, Active Global, Centre for Aging Research & Education, ACES, SingHealth
  • Duration of program: 10 weeks
  • Frequency of program per year: 1
  • Next enrolment date: Applications closes 30th June 2018.
  • Investment/Equity stake: Up to S$50,000, with an option of up to 5% equity taken. The equity is split evenly between ACCESS Health and NUS Enterprise.

Elevator Pitch: Modern Aging Singapore is a business accelerator for aging. It is the first of its kind in Singapore, designed specifically to cater to the specific challenges and opportunities of the senior market. The program combines an online aging curriculum and industry events with a comprehensive business development program. Startups will benefit from NUS Enterprise incubator support and the international networks of ACCESS Health.

Teams are matched with industry mentors from multinational corporations who offer a regional perspective on business opportunities in aging. At the final event, teams pitch their business models to a panel of industry and aging experts.

The most commercially viable business models will receive seed funding from ACCESS Health International and NUS Enterprise. Modern Aging Singapore is supported by SingHealth and was created by ACCESS Health International and NUS Enterprise.

Startupbootcamp Fintech Singapore

  • Speciality: Fintech
  • Major partners / shareholders: SGInnovate, DBS, CIMB, RHB, Mastercard, Banco Intesa San Paolo, PwC, Jungle Ventures, PixVine Capital
  • Duration of program: 3 months
  • Frequency of program per year: 1
  • Next enrolment date: Next date TBA.
  • Investment/Equity stake: S$25K for 6%

From their website: Startupbootcamp FinTech is the leading global accelerator focused on financial innovation. Each year they provide funding, collaboration, coaching, mentorship, office space in Singapore and access to a global network of corporate partners, mentors, investors and VCs, for up to 12 selected FinTech and InsurTech startups selected across the globe.

Over the course of an intense three month program, selected startups collaborate with corporate partners drawn from the financial industry, angel & VC investors, and more than 400 expert mentors to build world class FinTech and InsurTech products, with the ultimate goal of becoming industry leading companies.

The FinLab

  • Speciality: Fintech
  • Major partners / shareholders: SGInnovate, UOB
  • Duration of program: 3 months
  • Frequency of program per year: 1
  • Next enrolment date: Programme started on April 2018. Next application TBA.
  • Investment/Equity stake: Discretionary equity funding.

Elevator pitch: The FinLab is Singapore’s first accelerator to run a business transformation programme for SMEs to innovate and digitalise for growth. We aim to equip owners of Small and Medium Enterprises (SMEs) with tools to increase revenues, raise productivity and reach new markets, while leveraging on curated technology solutions to do so.

The Open Vault

  • Speciality: Fintech
  • Major partners / shareholders: OCBC Bank
  • Duration of program: 3 months
  • Frequency of program per year: 1
  • Next enrolment date: Applications closed April 2018. Next date TBA.
  • Investment amount / Equity stake: nil

From their website: Spanning 12 weeks, the 2018 The Open Vault Innovation Challenge invites fintechs to develop practical solutions to address the challenges put forth by eight different business units in OCBC. This is a collaborative programme where selected fintechs and their respective business units will have to work closely together to co-develop and test the solutions. Applicants get to develop their solutions and proofs-of-concept in OCBC’s Data Sandbox.

Oracle Startup Cloud Accelerator

  • Speciality: Any tech startups that have been working together for at least 6 months and targets a large addresable market
  • Major partners / shareholders: Oracle
  • Duration of program: 6 months
  • Frequency of program per year: 1
  • Next enrolment date: Applications closed June 2018. Next date TBA.
  • Investment/Equity stake: nil

From their website: Oracle Startup Cloud Accelerator provides startups with free Oracle Cloud credits, hands-on interaction with R&D, co-working space, enterprise-grade scaling, business development, revenue building, world-class mentoring, migration assistance and access to product and partner ecosystems, as well as over 430,000 enterprise customers.

STARTUPAUTOBAHN Singapore

  • Speciality: Various tech verticals including Predictive Analysis, AI, Internet of Things, Augmented Reality
  • Major partners / shareholders: Daimler, Plug and Play, Jardines Innovate, NUS Enterprise
  • Duration of program: 5 months
  • Frequency of program per year: 2
  • Next enrolment date: Applications open now. Next batch beginning soon.
  • Investment/Equity stake: nil

From their website: STARTUPAUTOBAHN Singapore is a corporate co-innovation platform powered by Mercedes-Benz focusing on several domains including Customers, Automotive Retail, Aftersales, Corporation and Infrastructure Management.

Also read: Women-led ventures make up only 22 per cent of accelerator participants in Indonesia: Report

PayPal Innovation Lab Incubator (Fintech)

  • Speciality: Fintech
  • Major partners / shareholders: PayPal
  • Duration of program: 9 months
  • Frequency of program per year: 1
  • Next enrolment date: Programme begins July 2018.
  • Investment/Equity stake: Possible S$100,000 equity funding from partnering VC or PayPal

From their website: Located within PayPal’s Singapore Technology Center, PayPal Incubator endeavours to nurture and support the creation of a new generation of technology companies. It provides an initial infrastructure, structured curriculum with access to FinTech domain experts, mentoring and guidance by business leaders, and access to a network of investors.

PayPal Innovation Lab Incubator

  • Speciality: Social Messaging Tech (Viber-focused)
  • Major partners / shareholders: Rakuten, Techstars
  • Duration of program: 3 months
  • Frequency of program per year: 1
  • Next enrolment date: Programme begins July 2018.
  • Investment/Equity stake: $20,000 for 6% equity stake and the option of a $100,000 convertible note

From their website: Together with Rakuten, a global leader in internet services, Techstars will work with early-stage entrepreneurs who are advancing social messaging technologies, with a focus on the Viber application. This mentorship-driven accelerator will focus on disrupting and revolutionizing how businesses and consumers use messaging to conduct business and stay connected

UNFRAMED

  • Speciality: Social Impact x Tech
  • Major partners / shareholders: Croeni Foundation, Singtel, SCAPE
  • Duration of program: 4 months
  • Frequency of program per year: 2
  • Next enrolment date: Next date TBA.
  • Investment/Equity stake: S$10k – revenue sharing

Elevator Pitch: UNFRAMED is the first social impact startup incubator, by entrepreneurs for entrepreneurs, in Asia. Uniquely positioned at the intersection of Community, Technology & Entrepreneurship, UNFRAMED leverages the most comprehensive cross-sector ecosystem to nurture the next generation of entrepreneurs, and help them build great startups with clear social impact.

ImpacTech

  • Speciality: Various tech startups use technology innovatively to generate impact. Also, provide Corporate Accelerator for large scale companies.
  • Major partners/shareholders: Singtel, AVPN. Privately owned.
  • Duration of program: 3-4 months
  • Frequency of program per year: 3
  • Next enrolment date: Applications is now open.
  • Investment amount/Equity stake: S$30,000 (via SG Founder grant)

From the website: ImpacTech is global accelerator programme that empowers startups that uses technology innovatively to tackle meaningful challenges and generate positive impact. ImpacTech HQ is in Singapore with activities in Thailand, Japan and Hong Kong. ImpacTech runs in-house accelerator as well as bespoke corporate accelerator programmes and tailored activities for international startup delegations.

ICE71

  • Speciality: Cybersecurity
  • Major partners/shareholders: Singtel Innov8, NUS Enterprise, CSA, IMDA, CISCO
  • Duration of program: 3 months
  • Frequency of program per year: 2 per year for both the accelerator and the bootcamp
  • Next Enrolment date: mid-Feb 2019 (accelerator)
  • Investment amount/Equity Stake: $30k

From the website: ICE71 ‘Innovation Cybersecurity Ecosystem at Block71’ is the region’s first cybersecurity startup hub. Founded by Singtel Innov8, the corporate venture capital unit of Singtel, and the National University of Singapore (NUS), through its entrepreneurial arm NUS Enterprise, we aim to strengthen Singapore’s growing cybersecurity ecosystem by attracting and developing competencies and deep technologies to help mitigate the rapidly increasing cybersecurity risks in the region.

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This article was first published on e27, June 26, 2018.

Disclaimer: Information gathered here were drawn from the respective accelerator websites and verifying with the accelerators directly. The information may be subjected to change and we encourage startups to visit the accelerators directly for more information.

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Photo by Jacob Peters-Lehm on Unsplash

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