Minister for Foreign Affairs and Law Mr. K Shanmugam speaks at the official opening and addresses the future of Singapore’s startup ecosystem
The Hub Singapore, Singapore’s largest startup community, unveiled its new collaborative work space today in the heart of Singapore’s emerging design and creative neighbourhood at 128 Prinsep Street. A pioneer in Singapore’s co-working scene, The Hub is expanding its space, business initiatives and programmes to support the growing number of startups and entrepreneurs in Singapore.
Guest of Honor Mr. K Shanmugam, Minister for Foreign Affairs and Law said, “I congratulate the launch of The Hub Singapore. It will be a conducive and useful conduit for local start-ups to network as well as work with their international counterparts.”
Founded in 2012, The Hub has built the country’s largest startup community with over 500 entrepreneurs, creatives and techies in their network. Over the years, The Hub has established a strong presence in Singapore’s entrepreneur scene and has positioned itself well at the heart of the startup ecosystem. Facilitating collaborations between corporations, startups, government entities, investors and the wider community, The Hub has developed a series of programs and initiatives to strengthen and grow the local startup scene.
In addition to programs designed for startups, The Hub is also introducing tailored innovation and impact lab programs for corporations looking to innovate through collaborations. Companies currently involved in the program include J.P. Morgan, DBS Bank and Procter & Gamble.
Grace Sai, CEO and Co-founder of The Hub Singapore said, “We are excited to be opening a larger space for our community; enabling us to not only serve more entrepreneurs from early stage to mature ones, but also allow us to serve them in more ways. This next phase will see us focusing more on collaborations across the ecosystem, especially with corporates who want to connect with startups, the government, venture capitalist, investors and media partners. We have by default stepped into the responsibility of being a network of networks, creating more visibility of different parties that could and should be working together, because there is always more innovation outside of one’s team than within”.
Further investing in the community, The Hub will be launching the Investor in Residence program and The Hub Alumni Fund later this year. This allows businesses in their network to have the opportunity to be mentored by experienced fund managers while receiving adequate funding to bring their ideas to life. Funded by angel investors and successful Hubbers, The Hub Alumni fund has raised SGD$300,000 pledges to date and is expected to grow close to SGD$1million by year end.
Designed by premier design agency greymatters, the new space reflects the vibrancy and character of its community. Edgy, colourful yet homely, The Hub boosts up to 160 co-working and permanent desks, eight team rooms, six hi-spec meeting rooms, three sound-proof Skype booths, and flexible event spaces that can hold up to 200 people. An in-house café, a communal pantry, hot showers and nap room for resting are some of the other features at The Hub. Hubbers in the new space include popular news site Mashable, online payment solutions provider Braintree_Paypal, Silicon Valley’s Unicorn Twilio, and upcoming local startups Gone Adventurin’ and Our Better World.
More than just a stylish co-working space, The Hub also has an internal online portal to connect all members and help the community grow beyond the boundaries of its physical space. The Hub is the first co-working space community in Singapore to establish the option of a pure online membership which gives businesses who do not require a physical work space the flexibility to collaborate and work with other members remotely.
Grace Sai, CEO and Co-founder of The Hub Singapore added, “Singapore and Southeast Asia will not only be a hub for startups in Asia, but also the world. The Hub Singapore is proud to have a leading part in that. We encourage everyone to join us, attend an event, or even try co-working for a day. There is an entrepreneurial spirit in each of us”.