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Indonesia, Singapore partner to develop startups
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Singapore Trade and Industry Minister S. Iswaran (center), Singapore development body SG Innovate head of ecosystem development Alex Lin (second left) and Singapore-based venture capital East Ventures managing partner Willson Cuaca (second right) discuss business at a press conference in Jakarta on April 25. (JP/Stefani Ribka)
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ocal co-working space EV Hive is collaborating with Singapore's working space BASH to provide places for startups from both countries to develop and thrive. These spaces with assist startups with business development and funding.
"Regional companies based in Singapore can use EV Hive as a launch pad to the Indonesia market. Indonesia companies can use BASH as a stepping stone to access the regional stage," said Willson Cuaca, managing partner of Singapore-based venture capital firm East Ventures, during the launch of the collaborative project on Tuesday. East Ventures manages EV Hive.
Startups at the later stage (series B and above) of development can leverage support from EDBI, the global investment arm of the Singapore Economic Development Board.
East Ventures, BASH management or SGInnovate, a development body wholly owned by the Singapore government, will work on more programs to expand talent, markets and knowledge-sharing for the customers of both co-working spaces.
EV Hive currently manages two co-working spaces in South Jakarta and one in the Breeze mall in Banten. It plans to reach seven offices by the end of the year.
EV Hive has facilitated the development of 36 startups, six of which are Singaporean.
BASH, meanwhile, manages an integrated startup space in Singapore, BASH@Block 71. (bbn)
