Remarks by Minister of State for Trade and Industry Alvin Tan at Opening Ceremony of The Meeting Point at LaunchPad @ One-North

Distinguished guests,

Ladies and gentlemen, 

Introduction 

1               Good afternoon, everyone! Happy to be here with our startup ecosystem partners. 

2               The work of the Economic Strategy Review Committee on Entrepreneurship, which I co-chair with MOS Dinesh, looks at a couple of different pillars – access to capital, talents, markets, and also spaces. Today, working together with JTC, The Meeting Place is one such realisation of what we have worked on, helping startups start strongly, scale nimbly, and succeed globally. 

3               LaunchPad has grown from one block in 2015 to seven blocks housing over 700 tech startups today. Over the years, more than 2,400 startups have passed through LaunchPad, including success stories like Carousell, Nium, PatSnap, and YouTrip. But the startup world is evolving quickly, and LaunchPad must evolve with it. In a very volatile world, we need to press on, play long and make sure that Singapore continues to be a fertile ground for startups to scale. 

Start Strong: Connecting to the Ecosystem

4               First, we want to help startups start strong. Startups need to be where the action is, surrounded and supported by other founders, investors, and partners who understand your journey. That is why LaunchPad will soon be home to Kampong AI, Singapore’s Hub and Home for AI. This will be our first integrated startup community where AI founders and tech professionals can work and live together at LaunchPad, creating spontaneity and real connections that matter. It is a uniquely Singaporean take on bringing the kampong spirit to life in how we spur meaningful collaborations on Singapore-grown solutions that can make a global impact. 

5               We also want to facilitate more interactions and connections across the LaunchPad. This is why we have refreshed The Meeting Point. It is now a new and improved event and community space designed to bring the LaunchPad community together. 

6               We will also upgrade the LaunchPad estate with new sheltered walkways, more food options, and new sports facilities which may include basketball, table-tennis and pickleball. We want LaunchPad to be the obvious choice of community for startups. 

Scale Nimbly: Policies Supporting Startups at Various Stages 

7               Next, we want to support startups as they scale nimbly across different stages of growth. 

8               We will simplify processes and make it easier for startups setting up in LaunchPad. These include up to two months rent-free fitting out period and flexible tenures with shorter notice periods. This gives startups flexibility to focus on building their businesses. We will also expand LaunchPad’s entry criteria to include scale-ups and innovation teams of more established companies that can potentially mentor and partner with early-stage startups. 

9               We also have a wider network of testbed sites for companies of various stages in LaunchPad to pilot solutions, validate technologies, and accelerate market adoption. 

Succeed Globally: Unlocking New Opportunities through Partnerships 

10            Finally, we are helping startups succeed by connecting you to corporates, capital, and global markets. JTC has refreshed the LaunchPad Innovation Network (LINK) to reflect a broader focus on innovation. Since 2022, LINK has connected startups with corporates for innovation challenges, proof of concept opportunities, and funding partnerships. Today, JTC will expand this network by welcoming four new partners – CapitaLand Development, City Developments Limited, Esri Singapore, and SoftBank Robotics. 

11            We are also opening global doors for startups through new international partnerships. JTC will be partnering Enterprise Singapore, under the Global Innovation Alliance initiative, to support startups venturing into new markets, starting with those from LaunchPad. 

12            JTC will also be signing two MOUs as part of a node-to-node initiative to extend LaunchPad’s reach to 19 global startup nodes, including San Francisco, Paris and Tokyo. 

               i.         The first is with NUS Enterprise, which will give LaunchPad startups access to co-working spaces in their global network, including Block 71 in Silicon Valley, along with soft-landing support such as introductions to local investor and customer networks to help them establish a presence before committing significant resources to a new market. 

              ii.         We will complement this MOU with a second joint MOU with the Action Community for Entrepreneurship (ACE.SG) and INSEAD, which will also offer access to global startup hubs. 

13            These MOUs will open new opportunities for LaunchPad startups to expand their reach to international markets.                                                                            

Conclusion                                            

14            These initiatives – refreshing our startup spaces, expanding and extending support, facilitating international partnerships globally, reflect what we have heard from many of you through our ESR engagements and JTC’s roundtable discussions over the past nine months. 

15            We admire your startup journey and the government is committed to supporting you at all stages. LaunchPad is our commitment in action, helping startups start, scale, and succeed. Together, we will continue elevating Singapore as Asia's flagship startup destination where innovative companies can thrive and grow into globally leading enterprises. Thank you!