Protégé Ventures launches Fund II to support student-led startups in Singapore

Protégé Ventures, a student-run venture fund programme set up by the Singapore Management University Institute of Innovation & Entrepreneurship (SMU IIE), has launched the Marina & David Su Protégé Ventures Fund II.

This S$500,000 (US$368,000) sector-agnostic fund looks to invest in early-stage technology startups founded by students or recent graduates of Singapore’s polytechnics and universities.

David Su, founding managing partner of Matrix Partners China and a member of the SMU Enterprise Board, donated the amount.

The fund was launched in the presence of the Deputy Prime Minister (DPM) and Coordinating Minister for Economic Policies, Heng Swee Keat. He was the chief guest on the opening ceremony of Finals Week (called BLAZE) of the 11th Lee Kuan Yew Global Business Plan Competition (LKYGBPC).

Also Read: Meet the 55 finalists vying for prizes worth US$1.9M at SMU’s LKYGBPC competition in Singapore

Protégé Ventures was formed in 2017 to facilitate connections between university innovations and VC funding and to foster collaboration among students across different tertiary institutions. It also allows students to gain practical insights into the complex venture investment landscape, nurturing the next generation of tech and entrepreneurial leaders.

Since its inception, Protégé Ventures has trained 251 students, evaluated over 1,100 deals, and invested SGD265,000 (US$194,000) in ten startups that have collectively raised over SGD35 (US$26) million from notable institutional investors.

“For Singapore to successfully engage the challenges of tomorrow, we must cultivate a new generation of tech-savvy, agile and skilled decision-makers who can take the lead in navigating the turbulent and uncertain technological and economic landscape with sensitivity and wisdom,” said Su.

The LKYGBPC is a biennial university startup challenge organised by SMU IIE. As many as 53 finalist teams representing 1,100 universities across 77 countries were selected to compete for the grand prizes in Singapore from 11 to 15 September 2023.

—

Image Credit: LKYGBPC.

The post Protégé Ventures launches Fund II to support student-led startups in Singapore appeared first on e27.