Singapore has unveiled what it is calling its biggest integrated startup space, BASH.
BASH, which stands for Building Amazing Startups Here, is an initiative led by Infocomm Investments Pte Ltd (IIPL), the investment arm and wholly-owned subsidiary of the Infocomm Development Authority (IDA) of Singapore.
To further enhance the growth and popularity of its startup enclave, IIPL has signed a Memorandum of understanding with local publishing giant, Singapore Press Holdings (SPH) and Sunnyvale headquartered global accelerator Plug and Play, to run a corporate-accelerator programme to generate high growth, Singapore-based digital media startups.
Dr Yaacob Ibrahim, Minister for Communications and Information in a report in The Straits Times said large corporations such as SPH play a vital role in the startup ecosystem as invaluable pilot clients for new tech entrepreneurs as these corporations provide capital, domain, knowledge and customer base for innovation.
Alan Chan, chief executive officer of SPH, said: “The media industry is undergoing many changes today. It also presents opportunities for young entrepreneurs to contribute their ideas and create an impact in the industry."
"We are delighted to work with IIPL and Plug and Play on an accelerator programme to discover and support outstanding start-ups that will make a difference to our media scene.”
Located at Block 79 JTC LaunchPad @ one-north, the premises is being touted as the Lion City’s very own "mini-Silicon Valley" and features 25,000 sq ft of space that offers business traction and market access to innovative technology startups.
BASH aims to provide extensive amenities ranging from a prototyping lab, to mentorship and community networks grooming tech-product startups and overseeing creative ideas from its inception to expansion. "It will allow members and partners of the tech building community across the entire value chain - from accelerators, investors, incubators to entrepreneurs - to meet under one roof," local media report in The Straits Times said.
Steve Leonard, IDA executive deputy chairman and chairman of IIPL told The Straits Times: "We have made great progress in having global partners such as the European accelerator Startupbootcamp set up a FinTech-focused operation here in Singapore.
"As part of Singapore's journey to be a Smart Nation, we are also working on some really tough global challenges brought on by the inevitable trends of ageing population and urban density. That's the purpose of having BASH, the go-to-place for tech builders, investors and innovators to do more great things together."