"Start-ups will find collaboration and support easier now that they are under one roof..."
Minister for Foreign Affairs and Law K. Shanmugam sharing a light moment with Ms Grace Sai, founder and chief executive of The Hub, at the launch of the centre for start-ups on Tuesday. He said start-ups had a role to play in speeding Asean integration, and that the regional bloc will also allow entrepreneurs to flourish by serving as a hinterland for them.ST PHOTO: SHAWN TEO
Start-ups will find collaboration and support easier now that they are under one roof.
Visitors can feel the buzz the moment they enter The Hub Singapore at 128 Prinsep Street, newly launched on Tuesday night.
Open-air spaces where staff from various companies mingle, a stylish cafe, and rooms for tired souls to nap comprise Singapore's largest entrepreneurial community, which used to be in Somerset.
It feels more like a hangout spot than a working space. But it is home to more than 200 start-ups, affectionately called "hubbers", who want to make a difference in the world, and who have proved more than capable of doing so.
Ms Grace Sai, founder and chief executive of The Hub, said large corporations - including Deloitte, JP Morgan and DBS Bank - are increasingly working with its start-ups.
She also said the hubbers have individually raised more than $40 million since The Hub was founded 31/2 years ago.
She is setting up The Hub Alumni Fund to grant start-ups easier funding and mentorship. So far, it has raised $300,000, and aims to hit $500,000 to $1 million by year end.
"There are two groups of people in the world: the first group adapts to reality and the second group changes reality," she said. "The people we attract here at The Hub come from the second group."
A key feature of this space is collaboration, and it is greatly appreciated by the member firms.