Enterprise Singapore launches third SLINGSHOT as Lion City continues hub push

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e27 TOP100 winners will be awarded a fast-track pass to compete at SLINGSHOT!

Every major city in Southeast Asia has a goal to become the major startup hub in the region. They all have their own unique characteristics — be it market size, specific industry or gaps that have not been filled by a competitor.

For Singapore, its advantage is access to capital and corporates. According to Enterprise Singapore, the city-state is home to 150 VCs that facilitated 353 deals worth US$10.5 billion. Furthermore, many corporates like Google, Facebook and Microsoft have made Singapore their APAC headquarters.

This has helped create a honeypot effect that has resulted in the city hosting over 4,000 startups employing 22,000 people.

It is in this context that Enterprise Singapore is officially opening its SLINGSHOT 2019 programme. The international pitching competition is part of the agency’s mission to “deepen efforts with global and local partners to strengthen the startup ecosystem in Singapore”.

It has also partnered with e27‘s TOP100 programme. The winning startups at Echelon Asia Summit 2019 will be fast-tracked to pitch at SLINGSHOT.

Also Read: Indonesian logistics tech startup Triplogic raises seed funding round

This year, the competition is introducing a few new programmes. They are as follows:

Dealmaking: The startups will be selected according to investment and co-innovation interests from judges and corporates. This means that startups can feel confident at least a portion of the prizes up for grabs. This includes S$25,000 (US$18,300) in cash and an investment opportunity from ST Engineering. FundedHere is also offering a S$200,000 (US$147,000) investment opportunity.

Also Read: AsiaIOA teams up with e27 at Echelon Asia Summit to raise international awareness for Taiwan startups

Startups will also have an opportunity at S$25,000 (US$18,300) from Danone, L’Oréal and Rolls-Royce.

Other non-financial prizes include 18 months of workspace at JTC LaunchPad, 3-months access to Found8 community programmes and hot-desking space and cooperation possibilities with Ascott, Philips and WeAre Group. The startups will also receive a free booth at the tech conference SWITCH.

Photo by Dhruv Deshmukh on Unsplash

The post Enterprise Singapore launches third SLINGSHOT as Lion City continues hub push appeared first on e27.

Source: E27