Launched in January 2015, LaunchPad @ One-North is managed by JTC and home to start-ups, incubators, accelerators and venture capitalists (VCs). The newly announced initiatives are part of JTC’s ambitions to position LaunchPad @ One-North as Asia’s flagship start-up destination.
Yap Eai-Sy, director of JTC’s Infocomm media and start-up 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 start-ups, venture capitalists, companies and institutes of higher learning.
The insights obtained were then verified through a benchmark study conducted by consultants. This was in addition to overseas study trips undertaken by JTC to other start-up hubs around the world.
“We do visit other start-up spaces like Station F, a very impressive space that we took reference from. Also in Japan, we looked at Takanawa Gateway,” Yap says, referring to the Paris-based 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 start-up space.”
New partnerships boost start-ups
According to JTC, the reimagined LaunchPad @ One-North will be expanded in three key ways. Firstly, JTC has signed an MOU with the National University of Singapore (NUS)’s entrepreneurship arm, NUS Enterprise and a joint MOU with start-up trade association Action Community for Entrepreneurship (ACE) and INSEAD, the European business school.
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The MOUs will give LaunchPad tenants access to 19 global start-up hubs, including those in Paris, San Francisco, Shenzhen and Jakarta. Beyond access to overseas co-working spaces, NUS Enterprise will support LaunchPad start-ups in their pre-trip preparation and introduce them to local investors and customer networks.
Anthony Chow, co-founder and CEO of igloo, the parent company of smart access firm igloohome, says the new partnerships dovetail with the company’s overseas operations. Dual-headquartered in Singapore and Austin, Texas, it 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 go-to-market activities,” he adds.
Anthony Chow, co-founder and CEO of igloo: 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.
Separately, LaunchPad start-ups 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 start-ups 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 start-ups with market opportunities and commercialisation support.
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“Previously, LINK was called the 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 start-ups but are maybe not looking at investing but adopting their solutions,” says JTC’s Yap.
Since its inception, LINK has connected over 60 start-ups with six partners, including JRE Ventures, the corporate venture capital arm of Japan’s largest railway company, JR East. JTC adds that four more partners will be joining LINK: CapitaLand Development, City Developments, Esri Singapore and SoftBank Robotics.
Tony Tan, CapitaLand Development (CLD)’s chief corporate officer, says participating in LINK will help drive innovation in the built environment sector by allowing start-ups to tap into both JTC and CLD’s respective ecosystems.
“We recognise that we won’t have a monopoly on good ideas,” says Tan. “We are all stakeholders here. We want this market to be successful. There’s a lot of possibility for us to look at beyond this market, but this is a very good test bed.”
“Singapore has got the different machinery behind it to help accelerate some of the start-ups’ good ideas, but they need a market. They need a validity check. It’s important that we be part of that ecosystem and help us all to be successful.”
Tony Tan, CapitaLand Development’s chief corporate officer: We recognise that we won’t have a monopoly on good ideas.
This is not the first time CapitaLand has involved itself in the start-up scene. Previously, the property developer set up a corporate venture capital arm, C31 Ventures, in 2016 to invest in start-ups. Tan says CLD’s participation in LINK differs from what C31 Ventures was trying to do.
“What we call C31 within our CapitaLand lingo, it’s really a VC, looking at [start-ups] purely from a financial return perspective. A little bit of strategic investment, but looking at financial return. So there will be entry and exit,” adds Tan.
“[LINK] is quite different. This is really about letting our potential partners use our space, use our projects, use our developments to see whether their start-up idea works.”
LaunchPad start-ups are also 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 start-ups operating in overseas markets.
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 start-ups need,” says igloo’s Chow.
One area in which Chow would like to see further support is greater access to international talent for start-ups. “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 start-up friendly
Yap Eai-Sy, director of JTC’s Infocomm media and startup division: We would like to learn from good overseas examples. 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.
Secondly, JTC will be revising LaunchPad’s policies to be more start-up 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 start-up 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 start-ups to scale-ups. Scale-ups are relatively more mature companies that have already fine-tuned their business models to be profitable and scalable.
Scale-ups coming into LaunchPad will pay the same rental rates as the early-stage start-ups, says Yap. What’s different is how they would be expected to contribute to the overall LaunchPad ecosystem 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 progressively upgrading LaunchPad @ One-North’s infrastructure to better support its growing tenant base. For instance, a redesigned work and event space, “The Meeting Point,” will bring start-ups and investors together for meetings and community events. Further improvements, such as new sports facilities, expanded F&B options and 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 “focal point where talent, problem owners, researchers and resources can come together to create synergy and nurture a deep ecosystem.”
Kampong AI will occupy two repurposed blocks within the expanded LaunchPad estate. One block will serve as office space for AI companies, while the other will focus on residential living, offering over 200 units for future tenants.
Set to open in 2028, Kampong AI is already inviting companies to join its pilot phase at LaunchPad @ One-North’s current workspaces.
