Indonesia, Singapore partner to develop startups
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Local co-working space EV Hive is collaborating with Singapore’s working space BASH to provide places for startups from both countries to develop and thrive. These spaces with assist startups with business development and funding.
“Regional companies based in Singapore can use EV Hive as a launch pad to the Indonesia market. Indonesia companies can use BASH as a stepping stone to access the regional stage,” said Willson Cuaca, managing partner of Singapore-based venture capital firm East Ventures, during the launch of the collaborative project on Tuesday. East Ventures manages EV Hive.
Startups at the later stage (series B and above) of development can leverage support from EDBI, the global investment arm of the Singapore Economic Development Board.
East Ventures, BASH management or SGInnovate, a development body wholly owned by the Singapore government, will work on more programs to expand talent, markets and knowledge-sharing for the customers of both co-working spaces.
EV Hive currently manages two co-working spaces in South Jakarta and one in the Breeze mall in Banten. It plans to reach seven offices by the end of the year.
EV Hive has facilitated the development of 36 startups, six of which are Singaporean.
BASH, meanwhile, manages an integrated startup space in Singapore.
Questions & Answers
Q.What is the primary goal of the collaboration between EV Hive and BASH?
What is the primary goal of the collaboration between EV Hive and BASH?
The collaboration aims to provide co-working spaces for startups from both Indonesia and Singapore to develop and thrive. It will assist these startups with business development and securing funding.
Q.Which specific entities are offering support for later-stage startups involved in this initiative?
Which specific entities are offering support for later-stage startups involved in this initiative?
Startups that are at the later stage of development (series B and above) can receive support from EDBI. EDBI is the global investment arm of the Singapore Economic Development Board.
Q.What are EV Hive's current operations and future expansion plans mentioned in the article?
What are EV Hive's current operations and future expansion plans mentioned in the article?
EV Hive currently operates two co-working spaces in South Jakarta and one in Banten. The company plans to expand its total number of offices to seven by the end of this year.
Q.How will additional programmes further support the customers of both co-working spaces?
How will additional programmes further support the customers of both co-working spaces?
East Ventures, BASH management, or SGInnovate will develop more programmes. These initiatives will focus on expanding talent, accessing markets, and facilitating knowledge-sharing for their customers.
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