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| Action Community for Entrepreneurship | |
|---|---|
| Name | Action Community for Entrepreneurship |
| Founded | 2003 |
| Type | Non-profit |
| Headquarters | Singapore |
| Region served | Southeast Asia |
Action Community for Entrepreneurship is a Singapore-based non-profit organization focused on promoting entrepreneurship, supporting startups, and shaping innovation policy across Southeast Asia, with particular emphasis on Singapore as a regional hub. The organization engages with a range of stakeholders including startups, multinational corporations, academic institutions, and government-linked bodies to build entrepreneurial ecosystems, incubate ventures, and influence regulatory frameworks. Through programs spanning mentorship, funding facilitation, capability building, and industry partnerships, it has sought to connect local ventures to international markets such as United States, China, India, and European Union member states.
Founded in the early 21st century amid regional efforts to diversify post-Asian financial crisis economies, the organization emerged alongside initiatives led by institutions such as Agency for Science, Technology and Research, Economic Development Board (Singapore), and regional incubators like Block71. Early collaborations involved universities including National University of Singapore and Nanyang Technological University, private sector partners like DBS Bank and Temasek Holdings, and international programs connected to Silicon Valley accelerators. Milestones include launching accelerator cohorts in partnership with technology players such as Google, Microsoft, and Intel and coordinating regional forums that attracted delegations from ASEAN member states, Australia, and Japan. Over time the organization adapted to shifts in global technology priorities reflected in events like the rise of FinTech, Artificial intelligence, and Blockchain.
The organization’s stated mission emphasizes catalyzing startup growth, improving access to capital, and informing public policy to create hospitable conditions for innovators. Objectives are aligned with enhancing linkages between founders and institutional investors like Sequoia Capital, SoftBank, KKR, and corporate venture arms of Singapore Telecommunications Limited, while fostering talent pipelines from academic partners such as Duke–NUS Medical School and Yale-NUS College. It aims to coordinate industry coalitions addressing regulatory barriers often navigated by ventures in sectors served by Monetary Authority of Singapore, Infocomm Media Development Authority, and health regulators associated with World Health Organization standards.
Programs have included accelerator and incubator cohorts modeled on frameworks used by Y Combinator, Techstars, and 500 Startups, bespoke corporate-startup engagement platforms similar to initiatives by Accenture and Deloitte, and thematic tracks focused on domains tied to partners like Pfizer, Siemens, and Grab. Initiatives span mentoring networks drawing advisors from firms such as McKinsey & Company and Bain & Company, investor readiness workshops involving representatives from Temasek Holdings and GIC (Singapore Sovereign Wealth Fund), and market access missions to hubs including San Francisco, Shenzhen, Bangalore, and London. It has run competitions inspired by models like Hult Prize and MIT $100K Entrepreneurship Competition and convened conferences with panels featuring speakers from World Bank, International Monetary Fund, and regional trade bodies.
Membership comprises startups, angel investors, venture capital firms, corporate partners, and academic institutions, with engagement levels varying from advisory roles to program sponsorship. Governance structures reflect nonprofit best practices seen in organizations like Singapore Business Federation and regional counterparts such as ASEAN Business Advisory Council, involving boards with representation from executives of Temasek Holdings, DBS Bank, and leading university deans. Committees often include legal and compliance advisors conversant with statutes administered by bodies like Intellectual Property Office of Singapore and trade negotiators familiar with Trans-Pacific Partnership-era frameworks.
Reported outcomes include accelerated startups attaining follow-on financing from regional investors including Vertex Ventures, Golden Gate Ventures, and international firms such as Lightspeed Venture Partners and Index Ventures. Alumni ventures have pursued exits and scaling into markets served by partners like Amazon Web Services and Alibaba Group, while talent pipelines fed recruitment into companies like Google, Facebook, and Microsoft. The organization’s policy engagements contributed to dialogues that informed regulatory adjustments by Monetary Authority of Singapore and coordination with regional bodies such as ASEAN Secretariat. Measurable impact metrics have tracked job creation, fundraising totals, and cross-border partnerships akin to outcomes reported by other ecosystem builders like Startup Singapore and Enterprise Singapore.
Partnerships span multinational technology firms, financial institutions, research universities, and regional development agencies. Strategic collaborators have included Google Cloud, Microsoft Azure, Amazon Web Services, corporate partners like DBS Bank and OCBC Bank, and academic allies such as National University of Singapore and Nanyang Technological University. Funding sources include philanthropic grants, corporate sponsorships, fee-for-service program revenues, and project funding from entities such as Temasek Foundation and international development organizations including Asian Development Bank. Collaborative funding models mirror those used by accelerators backed by World Economic Forum initiatives and private-public consortia.
Category:Non-profit organizations based in Singapore Category:Entrepreneurship organizations Category:Business incubators