Action Community for Entrepreneurship (ACE) Ltd is a private sector-led movement for entrepreneurs, by entrepreneurs. ACE helps aspiring entrepreneurs start up by building a vibrant community and connecting them to resources, people and knowledge.
ACE takes on three main thrusts to focus on strengthening the entrepreneurial scene by,
(i) working with the community to engage and support promising entrepreneurs through resources, networks and mentorship,
(ii) being the voice to speak for entrepreneurs and lobby for relevant policy changes, and
(iii) reaching out to schools and youths to support their entrepreneurial efforts.
Minister of State for the Ministry of Trade and Industry, Mr Teo Ser Luck took over the Chairmanship in 2012 and charted a new direction for ACE: to help aspiring entrepreneurs to start their companies and guide them to become sustainable businesses.
Together with Dr Steven Fang, who was the Deputy Chairman and supported by a group of entrepreneurs from the private and public sector, a Steering Committee was formed to set the national direction and strategies for entrepreneurship. Five Sub-Committees and two Task Forces were formed to drive different focus areas under ACE.
ACE re-launched as private sector-led. Located at the heart of Singapore’s entrepreneurship action, JTC LaunchPad @ one-north, ACE is well-poised to be the one-stop hub to initiate a line-up of events and activities to actively engage the business community. In addition, there will be an Ideation Lab set up at ACE for aspiring entrepreneurs to get connected to facilities and valuable resources. A Visitor Centre which acts as a business concierge and gallery to facilitate site tours of this vibrant hamlet, and a web portal to showcase profiles of start-ups and partners, are also underway.
SPRING Singapore is an agency under the Ministry of Trade and Industry responsible for helping Singapore enterprises grow and building trust in Singapore products and services. As the enterprise development agency, SPRING works with partners to help enterprises in financing, capability and management development, technology and innovation, and access to markets. As the national standards and accreditation body, SPRING develops and promotes an internationally-recognised standards and quality assurance infrastructure. SPRING also oversees the safety of general consumer goods in Singapore.
Set up in 1968, JTC Corporation is the lead government agency responsible for the development of industrial infrastructure to support and catalyse the growth of industries and enterprises in Singapore. Landmark projects by JTC include the Jurong Industrial Estate; the Jurong Island for energy and chemicals industries; business and specialised parks such as Airport Logistics Park of Singapore, International Business Park, Changi Business Parks, Seletar Aerospace Park, CleanTech Park and Tuas Biomedical Park; a new work-live-play-learn development called one-north; and the Jurong Rock Caverns, Southeast Asia’s first commercial underground storage facility for liquid hydrocarbons. JTC also develops innovative space such as JTC Surface Engineering Hub, JTC MedTech One @ MedTech Hub and JTC Food Hub @ Senoko, which incorporate innovative features and shared infrastructure to enable industrialists to start their operations quickly and enhance productivity.
JTC LaunchPad @ one-north, an initiative supported by A*STAR, iDA, MDA, NRF, JTC and SPRING, is a vibrant community for start-ups and incubators in the biomedical sciences, infocomm, media, electronics and engineering industries.
The LaunchPad comprises three blocks - the current Blk 71 Ayer Rajah Crescent, a successful Infomm & Media (ICM) incubation centre for start-ups and two new blocks – Blk 73 and Blk 79. The expanded cluster provides more space for ICM start-ups, as well as seeds the growth of start-ups and incubators in other industries. With the completion of all three blocks, it doubles the current start-up community at one-north to 500 start-ups and 2,000 talents..
The LaunchPad will be home to a diverse range of industries in the entrepreneurship ecosystem, such as infocomm, media, biomedical sciences, electronics or engineering. There will also be a dynamic mix of activities, including incubation services and supporting professional services, which will give start-ups an advantage. There are also potential synergies with the presence of nearby public and private research institutes, as well as tertiary institutions, to provide a nurturing environment for start-ups.
The presence of diverse start-ups, incubators, venture capitalists, hot-desking and professional services in the LaunchPad creates a vibrant community, generating ample opportunities for knowledge sharing, business collaborations and deal-making. These strong networks and partnerships will help to accelerate the growth of start-ups in the LaunchPad and facilitate their success in the marketplace.
Ideas, Innovation & Energy
The LaunchPad will be a hub where there will be a continuous flow of ideas, innovation, new start-ups and new talents that will continuously revitalise the cluster and bring in renewed energy.
The Action Community for Entrepreneurship (ACE) Limited will be managing the Welcome Centre at Blk 79 of JTC LaunchPad @ one-north, where entrepreneurs will have an array of professional services at their disposal to give their ideas that much needed boost. ACE will also be offering an ideation space for start-ups to develop and grow their ideas.