Launched in January 2015, LaunchPad @ One-North is managed by JTC and houses startups, incubators, accelerators and venture capitalists. The newly announced initiatives are a part of JTC’s ambitions to position LaunchPad @ One-North as Asia’s flagship startup destination.
Yap Eai-Sy, director of JTC’s Infocomm media and startup division, told The Edge Singapore that the refresh was borne out of four engagement exercises that JTC conducted last year with 60 participants. The participants ranged from startups, venture capitalists, companies and institutes of higher learning.
The insights obtained were then verified through a benchmark study conducted by consultants. This was on top of the overseas study trips undertaken by JTC to other startup hubs around the world.
“We do visit other startup spaces like Station F, a very impressive space that we took reference on. Also in Japan, we looked at Takanawa Gateway,” Yap says, referencing the Paris-based startup campus, Station F.
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“So we would like to learn from good overseas examples,” she adds. “Even the not so good ones, we would like to find out more about the lessons we can learn from them and how we can do better to make LaunchPad the region’s destination startup space.”
Startups to benefit from new partnerships
According to JTC, the reimagined LaunchPad @ One-North will be expanded in three key ways.
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Firstly, JTC has signed a Memorandum of Understanding (MOU) with the National University of Singapore (NUS)’s entrepreneurship arm NUS Enterprise and a joint MOU with startup trade association Action Community for Entrepreneurship (ACE) and INSEAD, the European business school.
The newly inked MOUs will allow LauchPad’s startup tenants to access 19 global startup hubs in cities such as Paris, San Francisco, Shenzhen and Jakarta. Aside from offering them access to their overseas co-working spaces, NUS Enterprise will support LaunchPad startups with their pre-trip preparation as well as introduce them to local investors and customer networks.
Anthony Chow is the co-founder and CEO of igloo, the parent company of igloohome, a global smart access technology company. He welcomes the new partnerships because it dovetails with igloo’s overseas operations. igloo is dual-headquartered across Singapore and Austin, Texas and operates across eight locations globally.
“Having access to co-working spaces, local ecosystems, and on-the-ground support will help us deepen local partnerships, talent hiring and other GTM (go-to-market) activities,” Chow says.
Separately, LaunchPad startups will gain access to One&Co’s co-working spaces in Singapore’s Central Business District under a new partnership between JTC and the co-working space operator.
In addition, JTC says it is expanding its LaunchPad Innovation Network (LINK), a programme that brings startups and global companies together for collaboration and investment opportunities.
LINK was first launched in 2022 and will now enjoy a broadened mandate that includes connecting startups with market opportunities and commercialisation support.
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“Previously, LINK was called LaunchPad Investor Network programme. Now we have changed the ‘I’ to ‘Innovation’ because we understand that besides investors, there are actually corporates who would just like to work with startups but are maybe not looking at investing but adopting their solutions,” says JTC's Yap.
Since its inception, LINK has connected over 60 startups with six partners, including JRE Ventures, the corporate venture capital arm of Japan’s largest railway company, JR East.
Four new partner companies will be joining LINK as well, says JTC. They are: CapitaLand Development, City Developments limited, Esri Singapore and SoftBank Robotics.
Separately, LaunchPad startups are set to receive increased support when expanding into new markets under Enterprise Singapore’s Global Innovation Alliance (GIA) initiative. The GIA cuts across government agencies, corporates and innovation organisations to foster networks, drive R&D collaboration opportunities and build up funding traction for startups operating in overseas markets.
JTC says more details on its partnership with Enterprise Singapore will be announced in due course. Both agencies are statutory boards under the Ministry of Trade and Industry (MTI).
“Even though LaunchPad is based in Singapore, the mindset has always been about helping companies build globally from day one, which is exactly what local startups need,” says igloo’s Chow.
One area which Chow would like to see further support on is greater access to international talent for startups. “In today’s AI-driven world, access to the right global talent is becoming just as important as access to capital and markets,” he says.
Making LaunchPad more startup friendly
Secondly, JTC will be revising LaunchPad’s policies to be more startup friendly, says JTC’s Yap. "We are making it easier for them to set up, opening our doors to scale-ups, and connecting founders to international markets, all from Asia’s most dynamic business hub."
Incoming startup tenants will enjoy a streamlined onboarding process, more flexible lease terms and shorter notice periods. They will also not be charged rent for up to two months when they are fitting out their new workspaces.
LaunchPad @ One-North will expand its target audience from early-stage startups to scale-ups. Scale-ups are relatively more mature companies that have already finetuned their business models to be profitable and scalable.
Scale-ups coming in to LaunchPad will pay the same rental rates as the early-stage startups, says Yap. What’s different is how the they would be expected to contribute to the overall LaunchPad eco-system given their experience.
“We expect them to be more mature,” Yap says. “We would like them to be able to offer mentorship, and also do some programmes and collaboration events.”
New and improved infrastructure
Thirdly, JTC is making progressive upgrades to LaunchPad @ One-North’s infrastructure to better serve its growing number of tenants. For instance, a redesigned working and event space “The Meeting Point,” will allow startups and investors to come together for meetings and community events. Further improvements such as new sports facilities, increased food and beverage options as well as enhanced shelters between buildings are in the works.
Additionally, LaunchPad @ One-North will welcome a new AI park, “Kampong AI, Singapore’s Hub and Home for AI.” The project was first announced by Trade and Industry Minister Gan Kim Yong during MTI’s Committee of Supply debate on March 2.
Gan says the new AI park will be a “a focal point where talent, problem owners, researchers and resources can come together to create synergy and nurture a deep ecosystem.”
Kampong AI will comprise two repurposed blocks in the extended LaunchPad estate. One block will function as an office space for AI companies while the other block will have a residential focus with over 200 dwelling units for future tenants. Although Kampong AI will only be ready in 2028, interested companies can participate in the AI park’s pilot phase held at LaunchPad @ One-North’s existing workspaces.
