SPRING Singapore works with partners to provide comprehensive support for startups at different stages of development. This includes direct financial support through grants and equity funding, as well as facilitating non-financial support through business incubators and accelerators. SPRING also incentivizes angel investors to support startups through co-investment schemes and tax deductions. Specific initiatives include the ACE Startups scheme, SPRING SEEDS Capital, and the Biomedical Sciences Accelerator to foster innovation and commercialization of medtech startups.

1. July
enabling ENTERPRISE
SPRINGnews2012
Focusing on growthSecured, tracked and delivered
Supported by investments from SPRING SEEDS Capital,
Ascent Solutions is now looking towards further
expansion into international markets.
Early-stage funding from SPRING SEEDS enabled
KAI Square to develop its technological capabilities and
expand into new sectors.
Find out how
SPRING Singapore
works with partners
such as business angel
investors and venture
accelerators to invest
in innovative startups.
Investing
Startups
in

2. in this issue
EDITORIAL TEAM > HO Chow Pheng (ho_chow_pheng@spring.gov.sg) & Geraldine TAN (geraldine_tan@spring.gov.sg)
DESIGN & LAYOUT > Kevin LOO (kevin_loo@spring.gov.sg) PHOTOGRAPHY > Ooi Cheong (ooi_cheong@spring.gov.sg)
PUBLISHING CONSULTANT > Outlook Editorial & Research
Please email your comments / feedback to: springnews@spring.gov.sg • www.spring.gov.sg/springnews
SPRING Singapore is the enterprise development agency for growing innovative companies and
fostering a competitive SME sector. We work with partners to help enterprises in financing, capa-
bilities and management development, technology and innovation, and access to markets. As the
national standards and accreditation body, SPRING also develops and promotes internationally-
recognised standards and quality assurance to enhance competitiveness and facilitate trade.
EDITORIAL TEAM > HO Chow Pheng (ho_chow_pheng@spring.gov.sg) & NG Cuili (ng_cuili@spring.gov.sg)
DESIGN & LAYOUT > Kevin LOO (kevin_loo@spring.gov.sg) PHOTOGRAPHY > Ooi Cheong (ooi_cheong@spring.gov.sg)
PUBLISHING CONSULTANT > Outlook Editorial & Research
Please email your comments / feedback to: springnews@spring.gov.sg • Visit us at www.spring.gov.sg/springnews
SPRING Singapore is an agency under the Ministry of Trade and Industry responsible for helping
Singapore enterprises grow and building trust in Singapore products and services. As the enterprise
development agency, SPRING works with partners to help enterprises in financing, capability and
management development, technology and innovation, and access to markets. As the national standards
and accreditation body, SPRING develops and promotes an internationally-recognised standards and
quality assurance infrastructure. SPRING also oversees the safety of general consumer goods in Singapore.
6
SPRING Singapore
works with partners
such as business
angel investors and
venture accelerators
to invest in innovative
startups.
News Clips 3
Feature Story
Investing
in Startups
SME Showcase 2
Mentor and Be Mentored – 11
A Win-Win Solution
SME Showcase 1
Learning from Mentors 10
Insights
Innovating for Productivity 12
Coffee Done Right 14
Programmes 17

3. ACE launched its first Overseas
Chapter in Beijing (ACE Beijing
Chapter) on 15 June. The Guest-
of-Honour was Mr Teo Ser Luck.
He urged startups to “start local
but think global” and to seize
opportunities to internationalise
and make this part of their growth
strategy right from the early stages,
to sustain growth in the longer
term.
The launch was led by the ACE
Overseas Chapter Sub-Committee,
which aims to build networks to
help Singapore startups access
opportunities in overseas markets.
The Sub-Committee Chairman,
Mr James Tan, said the ACE Beijing
Chapter will be a “by Singaporeans,
for Singaporeans” soft-landing platform
where mentors and entrepreneurs can sharpen
their ideas and execution and improve their
chances of success. Mr Tan is the co-founder
of one of China’s largest group buying sites,
55tuan.com, which has a presence in more
than 100 Chinese cities.
Launch of First ACE Overseas Chapter in Beijing – 15 Jun
newsclips 3
ACE and Exploit Technologies, A*STAR’s commercialisation arm, organised the
inaugural ACE-Exploit Technologies Investor Forum on 1 June. This was the first of
a series of event collaborations between ACE and Exploit Technologies to help
technology firms connect with potential partners and investors.
Minister of State for Trade and Industry and ACE Chairman, Mr Teo Ser Luck, was
Guest-of-Honour at the event which saw 12 startups pitching their ideas to an audience
of some 200. More than 20 investors from both local and foreign angel investors
and venture capitalists were present, including Walden International and Innosight.
Endomaster, a SPRING Technology Enterprise Commercialisation Scheme (TECS)
grant recipient, won the “Best Pitch” award for its robotic-assisted technology to
perform endoscopic surgery.
Inaugural ACE-Exploit Technologies Investor Forum – 1 Jun
First ACE Networking
Event – 21 Jun
Going from meeting room to bowling
alley, members of the ACE steering
committee gathered for the first
ACE Networking event organised
by Canon Singapore and Singapore
Bowling at the Singapore Island
Country Club. The event brought
together key ACE members, who
represent senior management in
over 20 public and private sector
organisations, through sports for
the first time. Mr Teo Ser Luck was
Guest-of-Honour at the event.
Mr Clinton Ang, Managing Director
of Hock Tong Bee Pte Ltd and
ACE Networking Sub-Committee
Chairman said it is crucial for
startups to be plugged into the
business community to become
a sustainable business. The Sub-
Committee will be organising
regular networking events for
startups to build up their contacts
locally and overseas.
Mr Teo Ser Luck (right) in conversation
with Mr Tan Kai Hoe, SPRING Deputy Chief
Executive (left).
Mr James Tan (left), Chairman of the
ACE Beijing Chapter and Mr Teo Ser Luck,
ACE Chairman.
ACE marked another milestone to provide China-bound Singapore
entrepreneurs better access to resources and opportunities in
Beijing and China with its collaborations with HD Capital Co Ltd
(HDC), a member company under Tsinghua University, and Coway
International TechTrans Co Ltd (Coway), its technology partner.
On 4 July, Mr James Tan, Chairman of the ACE Beijing Chapter,
signed Letters of Intent with the Managing Director of HDC,
Mr Du Peng, and the Director President of Coway, Dr Tan Hongxin.
Minister for Education Heng Swee Keat graced the occasion as
Guest-of-Honour. He was accompanied by Mr Teo Ser Luck.
Mr Teo said, “Singapore startups will get a head start in the China
markets with HDC and Coway to mentor and guide them. This
is the first step towards greater collaboration and there will be
opportunities for closer partnerships to be forged between the
Chinese and Singapore communities in entrepreneurship.”
The signing ceremony was attended by representatives from
ACE, Tsinghua University, HDC and Coway, as well as the China
and Singapore business communities.
ACE-Tsinghua Collaboration to Support China-bound Singapore Entrepreneurs – 4 Jul
Mr James Tan, Chairman of the ACE Beijing Chapter and Mr Du Peng,
Managing Director, HD Capital.

4. 4 newsclips
SPRING and Tan Tock Seng Hospital announced on 27 June their partnership to
set up the first Co-innovation Programme Office (CPO) in Singapore. The CPO is
expected to catalyse more collaborative projects between healthcare clinicians and
local medical technology enterprises. The target is 10 to 15 projects in the first year.
This is part of SPRING’s S$10 million Clinician-Driven Innovation initiative, which
seeks to foster industry collaboration among clinicians, innovators and academia
and to support SMEs to upgrade their capabilities.
SPRING Partners Tan Tock Seng Hospital to Set Up
Co-Innovation Programme Office – 27 Jun
SPRING announced the launch of the Innovation and Capability Voucher (ICV) on
1 June. The ICV is an expanded version of the Innovation Voucher Scheme (IVS). In
addition to innovation, the voucher will cover three more areas – productivity, human
resources development and financial management. The $5,000 voucher is redeemable
at 120 participating service providers and will allow more SMEs to take the first
step to upgrade their capabilities in these key areas.
More SMEs Can Upgrade with New Innovation and
Capability Voucher – 1 Jun
Singapore played host to the biennial
German-Singapore Business Forum (GSBF)
this year. With Singapore as the gateway,
GSBF 2012 tapped the knowledge and
expertise of Singapore enterprises to explore
new market opportunities in ASEAN.
For the first time, a delegation of German
and Singaporean enterprises travelled to
Indonesia, where home-grown enterprises
like YCH Logistics, Sanwa Group, CEI Contract
Manufacturing and Racer Technology opened
their manufacturing, warehousing and
distribution facilities to the visitors.
German-Singapore Business
Forum Opens New Gateway
into ASEAN – 3 Jul The Singapore Accreditation Council (SAC) launched the Accreditation
Programme for Energy Management System (ISO 50001) Certification at
the Accreditation & Conformance 2012 conference on 3 July. The
accreditation programme is aimed at increasing industry’s confidence
in ISO 50001 certifications by accredited certification bodies and by
providing third-party assurance of their competencies.
Singapore is one of the first countries in the world, following the likes of Japan
and the United States, to have in place such an accreditation programme.
ISO 50001 requires an organisation to follow a systematic approach towards
achieving continual improvement in energy performance. This will, in turn,
minimise energy wastage and enable companies to achieve significant
cost savings.
Singapore Accreditation Council Helps Firms Save
on Energy Costs – 3 Jul
GSBF2012 Co-Chairs: Dr Axel Stepken (left) and
Mr Philip Yeo
Prof Philip Choo, CEO, Tan Tock Seng Hospital (left) and Mr Ted Tan, Deputy Chief Executive, SPRING.
Mr Tan Kai Hoe, SPRING Deputy Chief Executive, speaking at the Accreditation &
Conformance 2012 conference.

6. 6 featurestory
s the lifeblood of Singapore’s
economy, startups play a key role
in job creation and fostering an
entrepreneurial culture. SPRING
recognises the challenges that startups
face and constantly strives to strengthen
the startup ecosystem by ensuring that
both financial and non-financial support
are available.
As a startup will face different needs and
challenges on its journey from ideation to
commercialisation, SPRING works with
partners to provide tailored support at
each stage of the entrepreneurial journey.
Financial support is provided directly by
SPRING through a number of programmes,
while non-financial support is ensured
through SPRING’s collaboration with
partners.
An entrepreneurial culture has its roots in
education and an entrepreneurial mindset
can be seeded from young. SPRING provides
funding to promote entrepreneurship
learning in schools through the Young
Entrepreneurs Scheme for Schools (YES!
Schools), and supports entrepreneurial
events and activities, which include business
competitions such as the National University
of Singapore’s Startup@Singapore and
Nanyang Technological University’s ideas.
inc.
SPRING works with partners such as the
Action Community for Entrepreneurship
(ACE) to provide early-stage funding.
Support comes in the form of grants such
as the ACE Startups scheme and the
Technology Enterprise Commercialisation
Scheme (TECS), and through partnering
full-suite incubators under the Incubator
Development Programme (IDP).
While grant schemes like ACE Startups
and TECS help address early-stage funding
gaps, the IDP partners provide resources
such as incubation, mentoring, technology
advice, shared business services and
even equipment, and are a crucial bridge
between the ideation and commercialisation
phases.
SEEDing Future Successes
With bank financing out of reach for many
startups without any track record, SPRING
Singapore has put in place a number of
funding schemes to groom innovative
startups. For example, startups with a
commercially viable business and strong
growth potential can turn to SPRING
SEEDS Capital, a wholly-owned subsidiary
of SPRING Singapore, for equity funding
SPRING Singapore
works with partners
such as business
angel investors and
venture accelerators
to invest in
innovative startups.
Investingin
Startups
A

7. featurestory 7
under the SPRING Start-up Enterprise
Development Scheme (SPRING SEEDS).
SPRING SEEDS helps to launch innovative
startupsintothemarketbypumpinginequity
of up to $1 million. This is done through co-
investing with third-party investors. Both
SEEDS and the private investor will then take
equity stakes in the firm. SPRING SEEDS
Capital recognises that, beyond financing,
startups need non-financial support such
as mentoring and access to networks and
markets. To date, SPRING SEEDS has
invested in over 190 startups.
“The objective of SPRING SEEDS is to
catalyse private sector investments. As many
startups lack access to capital due to their
limited track record, angel and early-stage
investors have a vital part to play in seeding
young companies,” says Ms Chew Mok Lee,
Chief Executive of SPRING SEEDS Capital.
In addition to direct funding, SPRING
SEEDS works closely with pre-approved
business angels through the Business
Angel Scheme (BAS) to co-invest in
startups for up to $1.5 million. Beyond
funding, the business angels have helped
their investees with the establishment of
corporate governance structures, business
development, and access to financing
and market. Early this year, the BAS was
enhanced to include four more angel
investors, enlarging not just the pool of funds
available, but also the range of expertise
that the angel investors bring with them.
More importantly, angel investors also
provideasourceofentrepreneurialexpertise
to help nurture new businesses.
“Business angels are best positioned to
guide startups through the highs and lows
of starting a business,” says Mr Amit Anand,
Managing Partner of Jungle Ventures, which
is a participating business angel investor
under SPRING’s BAS.
Private angel investor Lawrence Seah
agrees. “Angels can add tremendous value
by providing key contacts, such as potential
investors, and guidance related to all
aspects of the business, especially in
financial and human resource matters,”
says Mr Seah.
Incentivising Angel Investors
Recognising the value that angel investors
bring to startups, SPRING introduced the
Angel Investors Tax Deduction Scheme
(AITD) to encourage individual angel
investors to not only invest for potential
capital gain, but to take a keen interest in the
startups and guide them, so as to accelerate
their growth.
The AITD allows individuals who make
equity investments in fledgling firms to get
a 50 per cent tax deduction on the amount
after two years.
“AITD is an added incentive for investors
to consider investing in an early stage
company,” says Mr Seah. “While the scheme
is not the sole reason for investing in a
startup, I believe every prudent investor
should do some research to understand
how they can enhance their investment
returns.”
Individuals will be required to commit a
minimum amount of $100,000 within 12
months in a startup and take up a board
seat or advisory role at the firm in order to
qualify as angel investors under the scheme.
They must also have at least three years
of experience in early-stage investments
or be entrepreneurs with a minimum five-
year track record or senior management
professionals with at least eight years of
corporate experience.
Supporting Biomedical Startups
One of the areas that SPRING sees strong
growthpotentialinisthebiomedicalsciences
sector. However, due to the knowledge- and
capital-intensive nature of the sector as well
as the longer gestation period required,
it can be difficult for medical technology
(medtech) startups to succeed.
To encourage the formation and growth of
medtech startups, the government launched
a $40 million fund as part of its Research,
Innovation and Enterprise 2015 (RIE 2015)
plan. The fund is managed by SPRING SEEDS
Capital under its Biomedical Sciences
Accelerator (BSA) Programme.
Besides supporting the growth of more
innovative startups, the programme also
aims to better commercialise the intellectual
property developed in the sector. As such,
technology incubators ClearBridge BSA
(CBSA) and Singapore Medtech Accelerator
have been engaged to identify, finance and
manage promising medtech startups.
SPRING SEEDS Capital will then co-invest
in the startups on a one-for-one basis.
CBSA’s Managing Partner, Mr Johnson
Chen, believes that accelerators play a
crucial role in helping medtech startups
take their idea from the lab to the market.
“Besides funding support, we help startups
in areas such as distribution channels,
pricing models, cost expenditures,
collaborations, back-end corporate
functions, quality control and regulations
compliance. We also help startups to
develop and manage their intellectual
property,” says Mr Chen.
Mr Amit Anand, Managing Partner, Jungle Ventures
“Business angels are best positioned to guide startups through the highs and
lows of starting a business.”
“The objective of SPRING
SEEDS is to catalyse private
sector investments.As many
startups lack access to capital
due to their limited track record,
angel and early-stage investors
have a vital part to play in
seeding young companies.”
Ms Chew Mok Lee, Chief Executive,
SPRING SEEDS Capital
He added: “We believe these capabilities
are key to the success of startups, and are
critical to helping them commercialise
their technologies.”
Read on to find out how companies such
as Ascent Solutions and KAI Square have
turned to SPRING SEEDS Capital for
equity financing and support to grow
their business. For more information on
SPRING’s assistance schemes for
startups, please visit www.spring.gov.sg/
entrepreneurship/fs. 

8. 8 featurestory
█
Find out how you can expand your
business with equity funding from SPRING
SEEDS Capital at www.spring.gov.sg/seeds.
Identifying the right channels and partners
and developing a strong brand are critical
for international expansion.
ith millions of tonnes of cargo
moving between nations every day,
asset security and tracking has grown in
importance due to the risks associated with
the transportation of goods. However, most
of the tracking products currently in the
market do not come with any mechanism or
data about security breaches that can alert
the owners take quick and decisive action.
Recognising the need to integrate both
security and tracking into a single device,
Ascent Solutions developed iSPOT
(Integrated Security Portal), an electronic
cargo security tracking system that provides
better control over shipments.
The iSPOT integrates Global Positioning
System (GPS), General Packet Radio Service
(GPRS) and Radio Frequency Identification
(RFID) technologies to provide users with
information on the location of a consignment,
thus allowing any unauthorised access to be
quickly investigated.
Supported by investments from
SPRING SEEDS Capital,
Ascent Solutions is now looking
towards further expansion into
international markets.
From left: Mr Chew Kia Boon (Director of Technology)
& Mr Lim Chee Kean (CEO) of Ascent Solutions
ASCENT’s iSPOT – an electronic cargo security
tracking system that provides better control over
shipments.
“We aim to eliminate all blind spots with
iSPOT. This is a full-fledged solution that
businesses will find useful because it covers
the security of cargo from all aspects,”
explains Mr Lim Chee Kean, Chief Executive
of Ascent Solutions.
Besides providing location tracking and
intrusiondetectionservices,iSPOTminimises
the need for physical escorts for high-value
cargo and facilitates the movement of goods
through designated customs corridors. It
achieves this by working with customs and
revenue authorities, defence and homeland
security agencies, and chemical and hazmat
companies to ensure the safe and efficient
transportation of freight.
“SPRING supported the R&D of iSPOT
through the Technology Innovation
Programme (TIP). We are continuously
developing our product to ensure that
our market-ready solution meets current
customer needs. We will be launching a
new platform that includes Iridium failover,
a satellite-based backup system to ensure
continuous monitoring connectivity,” says
Mr Lim.
Expansion Into New Markets
Ascent Solutions has also secured funding
support from SPRING’s Startup Enterprise
Secured,
Trackedand
Delivered
Development Scheme (SPRING SEEDS),
which will support the company’s foray into
overseas markets. “The funding will support
our business development, especially
in building a network of international
channels,” adds Mr Lim.
Although the company was only established
in 2010, it has made its mark in the regional
logistics industry, winning business
contracts in China, Indonesia, Thailand, and
countries in East Africa. “We are very happy
that we managed to close multi-million
dollar contracts and stay profitable, even
in our first year,” shares Mr Lim.
A Clear Roadmap to Growth
Despite the success, Mr Lim shows no signs
of slowing down. One of his priorities is to
find the right partners to take the company
to the next level.
“We are starting to enter the second phase
of the business, which is focused on
expansion. The key is to look for the right
partners and channels to sell our solution.
There will be different strategies required
for different markets, so a strong brand
strategyiskeytoovercomingthischallenge,”
explains Mr Lim.
He adds: “We will focus on strengthening
our brand this year, so that when people
want to secure and track their cargo,
Ascent Solutions comes to mind.” 
W

9. featurestory 9
█
While funding can support expansion,
startups need to first develop a strong,
differentiated product that is scalable from
the outset.
Find out how you can grow your business
to the next level with support from SPRING
SEEDS at www.spring.gov.sg/seeds.
Focusing
onGrowth
ith surveillance cameras popping
up everywhere these days, there is
a growing need to make sense of
what is being recorded. Recognising the
increasing demand to process surveillance
data, computer science graduates Dr Neo
Shi Yong (above) and Mr Victor Goh saw a
businessopportunityandsetupKAISquarein
2006.
KAI Square eventually developed a central
management system, the KAI Square Unified
Platform, to help organisations manage
the data recorded by surveillance devices
such as cameras and sensors. The system
provides instant alerts based on real-
time information and tracks and identifies
objects. It can also estimate the number of
people in an area and detect any potentially
dangerous or disruptive situations.
KAI Square’s state-of-the-art surveillance
systems, called KAI Square Surveillance,
were developed with support from SPRING
grants like the Technology Enterprise
Commercialisation Scheme (TECS) and
Technology Innovation Programme (TIP).
“SPRING’s funding support was crucial
as we needed the money to develop our
products. It also enabled us to take our
technology to the market,” says Dr Neo.
Poised for Strong Growth
What started off as a four-man operation
has grown to today’s team of 50. KAI Square
Early-stage funding from SPRING SEEDS enabled KAI Square to
develop its technological capabilities and expand into new sectors.
has established a strong foothold in the
security industry and has started branching
out into new markets such as the expanding
healthcare sector.
In the last two years, KAI Square has test-
bedded its new technology application,
KAI Square Health, in a local hospital. It
was installed to monitor patients and their
vital signs through cameras so healthcare
professionals can monitor patients even
when they are not in the vicinity. The
technology incorporates patient tags
fitted with WiFi location trackers and an
emergency distress button, so patients can
signal when they need assistance.
Dr Neo believes the new technology
application, which he is planning to
commercialise towards the end of the year,
holds huge potential for the company. Over
the next two years, he expects KAI Square
Health to contribute some $400,000 in
revenue to the company from the Singapore
healthcare industry alone.
Regional Ambitions
With a strong presence in Singapore, KAI
Square has now set its sights on overseas
markets for further growth. While it already
has offices in Taipei and Beijing, Dr Neo
plans to expand into the Middle East and to
capture a larger slice of the Chinese market
by setting up another office in Suzhou. To
facilitate its overseas expansion, KAI Square
recently secured funding from SPRING
W SEEDS (Startup Enterprise Development
Scheme) Capital.
Evidence of the company’s success is clear
– its revenue grew almost eight times in the
past three years, and it recently clinched
the top spot on the Deloitte Technology Fast
Track 500 Asia Pacific List, which ranks the
region’s 500 fastest-growing companies.
KAI Square’s list of clients is also growing
fast, and includes transport operators, law
enforcement agencies, healthcare providers
and security agencies.
Besides geographical expansion, the
company also plans to invest in R&D and
human resources to support its growth. “If
we want to grow the business, we will need
to find the talent with the experience and
knowledge to position the product well in
overseas markets. We will need to continue
building our capabilities so we are able to
sustain growth and compete globally,” says
Dr Neo. 

10. 10 showcase
we turned to angel investors. We also took
advice wherever we could get it, but there
wasn’t anything formal in terms of having a
mentor. Looking back, I realise it would have
been great to have a mentor’s experience
and insights to learn from. That is one of
the main reasons why I am now part of
ACE.
SPRINGnews: What excites you about
ACE?
Dr Fang: For me, one of the biggest draws
of ACE is the opportunity to translate some
of the great, forward-looking policies on
entrepreneurship and business support
into concrete actions and results. ACE’s
chairman, Minister of State
Teo Ser Luck, had the fore-
sight to get people from the
industry involved in realising
ACE’s vision, and it’s exciting
to be a part of that. I see
our efforts in the short
and medium term to have
a significant impact on
the development of new
companies. In the longer
term, it will have a real impact
on Singapore’s economic
performance and job creation.
SPRINGnews: Where is the
value in the mentor-mentee
relationship?
Dr Fang: Mentors help
startups lower or mitigate
risks when they share
their own experience
and insights, especially
those gained from making
mistakes and learning from them.
To be able to tap into such experience
SPRINGnews: What were some of the
challenges you faced as a startup?
Dr Fang: There were many challenges
when I started the company in 2001. One
set of challenges can be categorised as
surviving the “valley of death” – the initial
phase of commercialising ideas and
getting the business from start-up mode to
sustainability. Common problems include
cash flow management, building the right
team and getting the product right. The
second set of challenges centred around
learning from my mistakes – I had to learn
and accept that mistakes were inevitable,
and then find the best way to respond and
learn from them.
SPRINGnews: ACE was set up two years
after you started Cordlife. What kind of
resources were you able to tap when you
were starting your company?
Dr Fang: I mostly turned to industry friends
and domain experts. We were in a tricky
position because what we were doing was so
groundbreaking that there was no reference
to turn to! In the medical and technical areas,
we worked closely with universities and
research institutes. For financial support,
Learning from Mentors
Dr Steven Fang speaks to SPRINGnews in this first instalment of a
seven-part Q&A series with the Action Community for Entrepreneurship
Following several years of informal involvement in supporting the local startup community,
Dr Steven Fang (below) – founder of Cordlife, a leading provider of stem cell banking from cord blood
and umbilical cord – was appointed as Co-Chairperson of the Action Community for Entrepreneurship
(ACE) and the Chairperson of its Mentoring Sub-Committee earlier this year. SPRINGnews caught
up with Dr Fang to hear his views on building a business and the value of mentors.
without having to pay the “price” – making
the mistakes themselves – is a huge
advantage for mentees. For mentors, such
a relationship is an opportunity to give
back by helping the next generation of
entrepreneurs find their way.
SPRINGnews: What are the plans for
ACE’s Mentoring Sub-Committee in the
coming year?
Dr Fang: Our efforts are focused on building
up a pool of mentors and helping to make
the right matches with mentees. For the
mentors, we are looking at strengthening
three broad categories – the first consists of
survivalists, people who can help a startup
survive the “valley of death”. The second
category consists of functional mentors who
have specific skill sets in various domains
such as legal, finance and technical. The
last category consists of mentors who can
help a company internationalise by providing
insights on entry strategies, funding and
partnerships. For the mentees, we are
looking for businesses with potential and
scalability as well as a management team
with the right approach and attitude to
succeed.
SPRINGnews: What advice do you have for
entrepreneurs when it comes to working
with mentors?
Dr Fang: The key is to understand that a
mentor is not there to run the business
for you – they cannot tell you what to
do; rather, they are there to provide
advice and suggestions. Mentors offer
mentees a tremendous opportunity to
tap their experiences as well as learn
from the mistakes that the mentors have
made and how they overcame those
challenges. 
InterInterview
Interv
Dr Fang speaking at the launch of the new direction for ACE in
January this year.
Hype
Valley of Death
Success as a business
Time
Profit/Loss
One of many challenges startups face
is surviving the “valley of death” – the
initial phase of commercialising ideas
and getting the business from start-up
mode to sustainability.

11. showcase 11
SPRINGnews: How did Windphony get
started?
Mr Tan: Many people often turn to reality
television series and social media websites
as a platform to showcase their talents
to the world. Likewise, composers are
also seeking that ‘one minute of fame’ to
jumpstart their career. Windphony aims to
breach the current convention by allowing
composers to self-publish and share their
music scores via our digital music score
distribution platform.
SPRINGnews: How did you benefit from
the ACE Startups Programme?
Mr Tan: Besides funding support, the
programme also provides one important
ingredient which is often overlooked by
startups – mentorship. Although getting
mentoring assistance can be a challenge
for first-time entrepreneurs, ACE connected
us to experienced consultants and
entrepreneurs such as Mr Charlie Sim.
SPRINGnews: How were you paired with
Mr Charlie Sim?
Mr Tan: We were given a list of proposed
mentors who could work with us. We thought
Mr Sim’s experience would be useful to our
business. His expertise in the management
of intellectual property (IP) rights helped
us improve our approach in handling and
managing the IP rights of the composers,
The Action Community for Entrepreneurship (ACE) provides funding support and access to
networks and mentors to help promising startups. SPRINGnews spoke to ACE Startups grant
recipient Mr Tan Siow Wee (below), founder of online digital music score distribution platform,
Windphony, and Mr Charlie Sim, his mentor, a co-founder of Renovell, Allied Intuit Pte Ltd and
Axis Intellectual Capital Pte Ltd.
Mentor and Be Mentored – A Win-Win Solution
as well as protecting Windphony from IP
infringement.
SPRINGnews: What were some of the
challenges in starting a business and how
did the support and guidance provided by
Mr Sim help you to overcome them?
Mr Tan: Some of the challenges we faced
include creating and executing a winning
plan for the market, financing our venture,
and managing the local and international IP
rights of the composers.
Mr Sim helped us to identify our priorities
and gave us advice on how we can maximise
our market penetration strategies. He also
provided guidance on IP rights management
and how they are being exercised in other
countries.
SPRINGnews: Why do you think
entrepreneurs should consider having
a mentor?
Mr Tan: Starting a business without the
advice of experienced people is like driving
without any rear or side mirrors. Like
the mirrors, a mentor helps the driver to
see whether it is safe to turn left or right.
Entrepreneurs will save a lot of time and
effort by learning from the experiences of
their mentors.
SPRINGnews: Why did you join the ACE
Mentoring Programme?
Mr Sim: Over the years, I have benefited from
the advice of fellow entrepreneurs. I also
find satisfaction in sharing my experience
with budding entrepreneurs. When I was
introduced to ACE and its framework for
mentoring, I was sold. ACE’s ability to attract
and select budding entrepreneurs with great
ideas and business sensibility was also a
huge draw.
SPRINGnews: What does it take to become
a business mentor?
Mr Sim: A mentor must be able to
appreciate the value of a mentee’s business
and empathise with their concerns and
uncertainties. A mentor must also have
the ability to challenge ideas, plans and
strategies, as well as stimulate thinking
beyond the norm. Most importantly, a mentor
must have the willingness to share ideas,
and when necessary, contacts.
SPRINGnews: As a mentor, what is your
role in helping Windphony grow, and what
is the duration of the mentoring?
Mr Sim: My role in Windphony varied
depending on the stage of growth. At this
point, my role is to act as a check and balance
for their growth plans and strategies, to
identify opportunities beyond their current
market, and reassess their planned revenue
models. I am currently helping Windphony
to address the issue of managing IP rights
on their platform. I am also assisting them
in re-assessing their business model and
exploring avenues for early collaboration
with overseas partners. Although the
duration of the mentoring is only a year,
I believe our relationship will go beyond
that.
SPRINGnews: What do you hope to achieve
from this?
Mr Sim:The ACE Mentoring programme
provides me with the opportunity to be
exposed to new business ideas and to
interact with like-minded mentors. I am
also excited by the possibility of building
meaningful relationships with my mentees.
Every entrepreneurial journey is unique
and by growing with the mentee, the mentor
will get to develop him or herself too. 
“Starting a business without the
advice of experienced people is like
driving without any rear or side mirrors.
Like the mirrors, a mentor helps the
driver to see whether it is safe to turn
left or right.”
rview
Interview
Interview
view
Interview
Mr Tan Siow Wee

12. 12 insights
Faced with increasing competition from
low-cost competitors across Asia and
a tight labour market at home, Singapore
companies must find innovative ways to
increase their productivity to stay ahead.
While productivity is often thought of as
finding more efficient ways to produce a
product or deliver a service, it is equally
important for companies to understand
that there is another side to the productivity
equation.
“Productivity is not just about being
efficient. Higher productivity can also
be achieved through value innovation
by creating an output that allows you to
expand your market or charge a higher
price, thereby increasing your profit
margin,” says Dr Lee Eng Wah, Director of
A*STAR’s Manufacturing Productivity
Technology Centre (MPTC).
Dr Lee added: “If you look at the productivity
equation, you have output divided by input.
The input part is about how to do things
better and faster, or how to make use of
fewer resources to make the same output.
However, productivity will also rise if you
increase the value of the output, as long
as input does not increase by a larger
amount.”
He cites a number of companies in the
United States as an example of this kind of
output-focused productivity. “They create
products that commands a high market
value which allows them to have a very high
productivity. An example would be products
like the iPhone and airplanes.”
However, Dr Lee points out that this does not
mean that innovation can only be applied to
the output part of the productivity equation.
Indeed, innovation remains key to developing
new input techniques – production or
delivery processes that can cut costs and
reduce the input necessary to create an end
product or service.
Manufacturing Innovation
One of MPTC’s aims is to help manufacturing
companies innovate across both inputs and
outputs. To achieve this, it runs a number of
programmes that give Singapore companies
access to the research & development
(R&D) expertise of some 340 researchers
at the Singapore Institute of Manufacturing
Technology (SIMTech).
One of these programmes is the Production
Planning and Shopfloor Tracking in High-
Mix Low-Volume Manufacturing Initiative. It
addresses the challenge of more frequent
changes to production configurations as
companies move towards higher-value
manufacturing – where orders are often
smaller, more complex and have shorter
lead times.
followed by two months of mentoring and
hands-on training and application of the
theories. Since its launch in August 2011, a
total of 65 participants from 36 companies
have completed the programme.
“What OMNI does is develop ‘productivity
champions’ who can then go back to their
companies and lead innovative productivity
initiatives,” explains Dr Lee. “By having our
experts work with them for two months, we
are able to ensure that what was learned
in the classroom is applied in the company.
It also allows the experts to identify areas
where the company may benefit from
technological innovations developed by
SIMTech.”
HITECH Heat Treatment Services, a
company providing heat treatment
services to a wide range of manufacturing
industries, decided to participate in the
OMNI Programme in order to tackle some
of the productivity challenges it faced.
These included rising costs for hydrogen
gas, a key input for its operations, and a
lack of automation in its business
processes.
Working together with SIMTech experts,
HITECH introduced a gas generator to
replace cylinder gas, automated key
heat treatment process equipment, and
implemented an Enterprise Resource
Planning system. These initiatives resulted
ina200percentreductionintheconsumable
cost of hydrogen gas, a 30 per cent increase
in labour productivity and an 80 per cent rise
in total productivity.
Innovating By Design
While technology and process-driven
innovation are two of the more obvious
avenues to higher productivity, there are
many other ways to develop new business
models that increase efficiency and support
value creation. One such area that is
gaining increasing awareness is design
thinking.
Designthinkingisahuman-centricapproach
to overcoming challenges by putting the
end-users at the centre of the innovation
Innovating for Productivity
Developing new products
and processes can help
companies raise their
productivity and gain a
competitive edge.
“Productivity will rise if
you increase the value
of the output, as long as
input does not increase
by a larger amount.”
Dr Lee Eng Wah, Director,
A*STAR’s Manufacturing Productivity
Technology Centre (MPTC)
For precision engineering firm Riso Seiki,
the programme has proved invaluable.
They were able to improve operational
efficiency on the shop floor by streamlining
production planning and practices, as well as
developinganintegratedproductionplanning
and tracking system that raises delivery
performance and shop floor visibility.
As a result, Riso Seiki was able to slash its
daily planning time from four hours to 30
minutes, and now has the flexibility to react
quickly to unexpected events. The changes
have also helped Riso Seiki to venture into
new business areas such as the aerospace
sector.
Another MPTC initiative is the Operations
Management Innovation (OMNI) Programme,
a unique three-month programme that
includes one month of classroom sessions

13. insights 13
process. By understanding its customers
better, a company can use these new-
found insights to drive innovation and build
value.
SPRING Singapore’s Design Engage
programme helps companies understand
and apply design methods and mindsets to
identify new areas for growth and accelerate
innovation in their products, services and
customer experiences. Companies are
matched with a Design Facilitator who
guides them through the process and
works closely with them to develop a plan
for implementation.
At-Sunrice GlobalChef Academy is an
example of a company that has participated
in the Design Engage programme. Working
with a Design Facilitator, At-Sunrice
identified untapped opportunities by going
beyond what it had considered the limits of
the business. In doing so, it moved beyond
traditional culinary arts training to offer
new courses in Food and Beverage (F&B)
services and Restaurant Management. This
has resulted in significant business growth
and brighter prospects.
Getting Started
For many companies, taking the first
step towards innovation and improved
productivity can be daunting.However, many
support options are available to those willing
to move up the value chain.
SPRING Singapore’s Innovation & Capability
Voucher (ICV) offers companies a $5,000
voucher that can be used for key business
areas such as innovation, productivity,
human resources development and
financial management. The ICV supports
companies by funding a range of services
including feasibility studies and product or
services development. (See box for more
details)
For companies that want to tap technology
for higher productivity, SPRING offers the
Technology Innovation Programme (TIP)
to develop new products or processes
by funding up to 70 per cent of qualifying
costs of technology innovation projects for
SMEs.
The Productivity and Innovation Credit (PIC)
scheme offers tax credits of up to 400 per
cent and/or a cash payout of up to $60,000
for spending across a range of productivity
and innovation-related activities. Qualifying
activities include staff training, investments
in automation equipment, design,
registration and purchase of intellectual
property rights, and R&D.
These are just a few of the assistance
programmes available to companies in
Singapore. For information on the full
range of support available, please visit
www.enterpriseone.gov.sg 
More areas covered under the new
Innovation & Capability Voucher
What It Offers
The new Innovation & Capability Voucher (ICV) replaces the Innovation Voucher
Scheme (IVS) for small and medium-sized enterprises (SMEs) to undertake
technology-related innovation activities. The new ICV is pegged at the same
amount as IVS ($5,000) but extends its coverage to three new areas – productivity,
human resources development and financial management. It has been available
since 1 June 2012.
Activities Covered
The ICV aims to encourage SMEs to take their first steps towards capability
upgrading. This will allow them to strengthen their core business operations and
enhance efficiency in the four key areas supported.
The voucher can be redeemed at 120 participating service providers for services
such as diagnoses, feasibility studies, process upgrading, customised training,
product or services development, and the adoption of quality and standards.
Eligibility
SMEs applying for the ICV must meet the following requirements:
• At least 30% local shareholding
• Group annual sales of not more than S$100 million, or group employment size of
not more than 200 employees
• Physically present and registered in Singapore
Companies that have received IVS funding can also apply for the ICV. However,
they must complete the projects supported under the IVS before their application
for the ICV can be considered.
How To Apply
The ICV application form can be downloaded from SPRING Singapore’s website
(www.spring.gov.sg/icv). Companies are advised to discuss their project with the
participating service providers before submitting the application.
Kaizen, Continuous Improvement & The 7 Wastes workshop
Date: 26 July
Venue: 2 Bukit Merah Central #04-01, SPRING Singapore Building, Singapore 159835
Organiser: Singapore Productivity Association (SPA)
Visual Control Techniques for Workplace Improvement
Date/Time: 26 – 27 July, 9 am – 5 pm
Venue: 2 Bukit Merah Central, SPRING Singapore Building, Singapore 159835
Organiser: Singapore Manufacturers’ Federation (SMa)
WSQ Apply Failure Mode Effect and Analysis (FMEA) Techniques
Date/Time: 26 – 27 July, 9 am – 6 pm
Venue: 2 Bukit Merah Central, SPRING Singapore Building, Singapore 159835
Organiser: Singapore Manufacturers’ Federation (SMa)
Service & Sales Productivity Workshop – Food Services
Date: 30 – 31 July
Venue: 2 Bukit Merah Central #04-01, SPRING Singapore Building, Singapore 159835
Organiser: Singapore Productivity Association (SPA)
Productivity Happenings

14. 14 insights
Harry Grover takes his coffee seriously. This is evident by the
way his eyes light up as he talks of the sweet spot for coffee
beans – about five to 14 days after roasting – and the effect that
a few degrees temperature difference can have on the flavour of
an espresso.
As the founder and head barista at 40 Hands Coffee, Mr Grover
(in striped tee) has turned this passion into a mission to introduce
Singapore to Third Wave Coffee – the movement that advocates the
productionandappreciationofcoffeeasanartisanalproduct.Judging
by the explosion of the coffee scene in Singapore since he opened
40 Hands in partnership with the Spa Esprit Group in October 2010,
Mr Grover has come a long way in his mission.
Singaporeans about coffee and the innovativeness of the
concept,” recalls Ms Cynthia Chua (second from right in photo),
Manager Director of the Spa Esprit Group.
These efforts paid off, as SPRING eventually provided support to
set up 40 Hands on Yong Siak Street, in Tiong Bahru.
“A lot of people were surprised that we chose this area,” says
Mr Grover.
He added, “At the time the area was very quiet, in particular
Yong Siak Street, but we felt the unique history and the vibe of
the area was just right for 40 Hands.”
With support from the Spa Esprit Group, 40 Hands was able to
get significant media exposure.
“People were eager to write about it because our bar was in a
very unusual location and it was, at that time, a unique business
concept in Singapore. So, we weren’t a hidden find for too long,”
explains Mr Grover.
Long-Term Success
Finding success in the local food and beverage (F&B) industry
is notoriously difficult, particularly in the longer term. Challenges
abound – from customers being lured away by the next trendy
offering to weak operating procedures affecting profitability or
a short-term approach to team-building, there are numerous
obstacles that can potentially derail an initially successful F&B
venture.
“We wanted to do something with a lot of depth to it, not just a
passing fad. That means we have to deliver day in, day out, which
requires a strong commitment to quality, process improvement
and training,” says Mr Grover.
A focus on productivity, quality and training
ensures 40 Hands serves up the perfect cup
of Third Wave Coffee every time.
Coffee Done Right
A Novel Concept
According to Mr Grover, it was a very different picture two years ago.
“There were maybe one or two places doing Third Wave
Coffee, and there was very limited awareness in the community.
I saw this as an opportunity – and once I met the people at Spa
Esprit and got their buy-in, I knew I wanted to have a go at making
it work,” says Mr Grover.
Mr Grover and Spa Esprit Group then approached SPRING
Singapore early in 2010, to seek support for their new concept.
“It was tough trying to convince SPRING that the idea wasn’t just
another coffee shop. We stressed the opportunity to educate

15. insights 15
According to Mr Grover, the nature of the café business – and
one of its biggest challenges – is that a shop will be empty
one moment, and then full the next. Many F&B businesses
fail to provide service that can deal with these fluctuations,
says Mr Grover. However, he also adds that, from the outset,
40 Hands has worked to ensure it could cater to such surges in
demand.
“Spa Esprit helped me hand-pick the people and build up the team
so that we could live up to our commitment to serve a good coffee
in five to ten minutes.”
Finding an Edge with Productivity
Mr Grover also noted that another challenge for a café is that
the dollar spend per customer is often quite low – hence even
though 40 Hands is packed on weekends, there’s a limited upside
to revenues.
Despite this, 40 Hands still works on the standard model – where
labour costs are about 30 per cent of total operating costs.
“To make it work, we focus on increasing staff productivity by
making them multi-talented. Most of our staff are barista, cashier
and server all in one – and they can roll up their sleeves in the
kitchen too,” says Mr Grover.
Serving up cups of coffee as efficiently as possible is also critical.
Mr Grover shares that 40 Hands’ coffee bar is set up like a factory
line with the production flow properly laid out to optimise efficiency.
“A lot of people don’t think about their physical setup when they
open a café, they just put the coffee machine and cashier wherever
they fit. But you really need to work out your flow.”
In addition to optimising the workflow, technology also plays an
important role in 40 Hands’ ability to serve up a whopping 600
cups of coffee a day. The workhorse behind its counter is a
Synesso coffee machine, which Mr Grover says is the best in the
business – made by ex-baristas in Seattle using advanced steel
and ultra-stable temperature controls. The machine’s consistency
ensures a quality cup of coffee every time.
40 Hands also enhanced its productivity by leveraging on the
Spa Esprit Group’s infrastructure and technology, many aspects
of which have been developed with support from SPRING’s
programmes. These include tapping the Group’s central
kitchen and integrated human resources and accounting
systems. 40 Hands also invested in a good Point of Sale (POS)
system for the store – something that many small businesses
are reluctant to spend on, according to Ms Chua.
This investment has proven its worth. It allows Mr Grover to analyse
sales data and understand which items are selling better than
others, and what sells well at different times of the day. The system
is also an important motivational tool as it allows the tracking of
sales by individual staff, who are duly rewarded when they meet
sales targets.
The Value of Training
Finding and retaining motivated employees has been critical to
40 Hands’ success, but that is also a constant challenge, says
Mr Grover.
“Training plays an important part not just in ensuring product
quality, but also in building employee loyalty. Once we get an
employee confirmed and know that they’re good and hardworking,
we’ll get them fully trained up to brew specialty coffee – a process
which usually takes six months. A lot of places randomly hire
students and give them two weeks of training before throwing
them behind the machine.”
“We focus on increasing staff productivity by making
them multi-talented. Most of our staff are barista,
cashier and server all in one – and they can roll up their
sleeves in the kitchen too.”
Mr Harry Grover
He further explains: “You may be a great company, have fantastic
machinery, and the best beans, but the coffee can be incredibly
fickle – it changes with the level of humidity and temperature, so
baristas must really know their stuff.”
Mr Grover also notes that customers are becoming more
knowledgeable, which makes staff training even more important.
“Singaporeans are now more discerning. They are starting to
understand the nuances single origin coffee, micro-lots and
roasting dates,” says Mr Grover.
He added: “They are more aware of the flavour profiles of the
beans. That is why I train our baristas on the theoretical side of
coffee so they can explain to the customers why the coffee they
are drinking is so much better.”
Growing customer awareness of Third Wave Coffee, combined
with the company’s strong focus on productivity, quality and
training, has worked to the advantage of 40 Hands. Business is
booming at its café on Yong Siak Street. It has opened two new
coffee bars at Tiong Bahru Bakery, a traditional favourite, and
Open Door Policy, one of the latest F&B additions to the
neighbourhood. 
40 Hands’ baristas are trained on
the theoretical side of coffee so
they can explain to the customers
why the coffee they are drinking is
so much better.

16. EnterpriseOne iPhone App
Scan the QR code for
more information
Updates to
government
assistance schemes
and funding
Upcoming
events that you
can register for
Contact
EnterpriseOne
and the
Enterprise
Development
Centres
Latest SME-
related news
Intelligent
FAQs
HOw tO DOwnLOAD?
 tap on the ‘App Store’ icon on your iPhone.  Search for ‘enterpriseone’.  Download the application.
the EnterpriseOne portal (www.enterpriseone.gov.sg)
is a Government-to-Business (G2B) website customised to help
enterprises find answers they need to start, sustain and grow their
businesses. the EnterpriseOne iPhone app brings you the web portal’s
most popular features and enhanced accessibility to the content.
Download the Enterprise iPhone app today!
Brought to you by

17. programmes 17
ANGEL INVESTORS TAX DEDUCTION SCHEME
what is it?
This is a tax incentive which aims to stimulate
business angel investments into Singapore-based
startups and encourage more angel investors to
add value to these startups.
WHAT LEVEL OF SUPPORT?
An individual should apply for the
scheme before committing a minimum
of S$100,000 of qualifying investment in a
qualifying startup. An approved angel investor
can enjoy a tax deduction equal to 50% of
their investment amount at the end of a
two-year investment holding period. The
tax deduction will be subjected to a cap of
S$250,000 for each Year of Assessment (YA),
and will be offset against the total taxable
income.
HOW TO QUALIFY?
Individual investors must fulfill the following:
• Make the investment at the individual level
• Demonstrate the ability to nurture investee
Biomedical Sciences Accelerator
what is it?
The objective of the Biomedical Sciences
Accelerator (BSA) is to accelerate the growth of
Singapore-based biomedical sciences startups
with an initial focus on the medical technology
(MedTech) subsector. SPRING SEEDS Capital
works closely with two pre-approved accelerator
operators to co-invest in and nurture growth-
oriented, innovative MedTech startups.
If the startup is able to attract investment
interest and commitment from any of the two
BSA Operators, SPRING SEEDS Capital could
match the intended investment dollar-for-dollar,
up to a maximum of S$4 million. Both SPRING
SEEDS Capital and the BSA Operator will take
equity stakes in the company in proportion to
their investments.
HOW TO QUALIFY?
Applicants should:
• Be raising their first round of institutional
funding
• Be a Singapore-based company, with core
activities carried out in Singapore
• Not be a subsidiary company
• Show evidence of substantial innovative and
intellectual content for their product, service
or application, including rights to the
Intellectual Property to commercialise
• Demonstrate a business model with
high growth potential and scalability for
the global market
HOW TO APPLY?
Contact any of the accelerator managers below
to find out more.
Clearbridge BSA Pte Ltd
Mr Johnson Chen
Tel: +65 6873 0778
Email: johnson@clearbridgeaccelerator.com
Website: www.clearbridgeaccelerator.com
Singapore Medtech Accelerator Pte Ltd
Dr Foo Fatt Kah
Tel: +65 6223 9628
Email: kah@luminorcapital.com.sg
Website: www.smta.com.sg
BUSINESS ANGEL SCHEME
what is it?
This is an equity-based co-financing
option for Singapore-based early-
stage companies, similar to the Startup
Enterprise Development Scheme (SEEDS).
To encourage experienced angel investing,
SPRING SEEDS Capital works closely with
pre-approved private business angel funds to
co-invest in and nurture growth-oriented,
innovative startups.
If the startup is able to attract investment
interest and commitment from any of the
business angel funds, SPRING SEEDS
Capital could match the intended investment
dollar-for-dollar, up to a maximum of S$1.5
million. Both SPRING SEEDS Capital and the
business angel funds will take equity stakes
in the company in proportion to their investments.
HOW TO QUALIFY?
Applicants should:
• Be a Singapore-based company, with core
activities carried out in Singapore
• Be incorporated as a private limited
company for less than five years
• Have paid-up capital of at least S$50,000
• Show evidence of substantial innovative and
intellectual content for their product, service or
application
• Have high growth potential with clear
scalability for the global market
HOW TO APPLY?
Contact any of the fund managers below to find
out more.
BAF Spectrum Pte Ltd
Ms Jenny Law
Tel: +65 6777 7139
Email: jennylaw@bafspectrum.com
Website: www.bafspectrum.com
Sectors: Will consider startups from any sector
EXCEPT Retail, F&B, Automotive, Aviation,
Recruitment/Talent Agencies, FMCG, Logistics,
Education and Property Development
Accel-X Pte Ltd
Mr Edmund Yong
Tel: +65 6516 5451
Email: admin@accel-x.com
Website: www.nus.edu.sg/enterprise/accelx.html
Sectors: Will consider startups from any sector
which are potentially scalable
Small World Group Angels
Ms Chong Chiet Ping
Email: chietping@smallworldgroup.com
Website: www.smallworldgroup.com
Sectors: Clean Tech, Optical Systems, Advanced
Materials, Web, ICT
Mr Choun Chee Kong
Email: cheekong@hotmail.com
Sectors: IT, Mobile Technology, Education
Jungle Ventures
Mr Amit Anand
Email: amit@jungle-ventures.com
Sectors: New Media, ICT, Web, Mobile, Design,
Consumer Products, Hospitality, Social Impact
companies by possessing at least one of the
following characteristics:
- Experienced angel investor with experience
in early-stage investments
- Experienced/serial entrepreneur with an
entrepreneurial track record
- Senior management professional/executive
withcorporateseniormanagementexperience
Investee companies must fulfill the following:
• Be a Private Limited Company incorporated
in Singapore for no more than 3 years from
the date of first investment
Example:
Investment Amount $100,000
AITD Tax Deduction 50% x Investment of $100,000 = $50,000
Taxable Income $600,000
Taxable Income after AITD Tax Deduction at
the end of two-year investment holding period
$600,000 – $50,000 = $550,000
• Have at least 50% of its total issued
share capital beneficially held by no
more than 20 individual shareholders
• Does not hold more than 25% of the issued
share capital or 25% of the debt capital
within a period of 2 years prior to the date of
first investment
• Have business operations in Singapore and
be a Singapore tax resident for the entire
holding period of the investment
HOW TO APPLY?
For more information on AITD, visit www.spring.
gov.sg/aitd

18. 1 18 upcomingevents
SME Financial Management Toolkit Launch and Seminar
Date: 15 August 2012
Venue: Marina Mandarin Singapore
Time: 8.45am – 2pm
The SME Financial Management Toolkit commissioned by The Association of
Banks In Singapore (ABS), developed with the expertise of Stone Forest,
supported by SPRING Singapore, is a self-help platform that allows SMEs
to enhance their knowledge and capabilities in Financial Management. The
seminar will showcase the importance of sound Financial Management and
provide a demonstration of the toolkit.
For registration, please go to: www.abs.org.sg/em/public_event.php

19. Enterprise Development Centres (EDCs)
Association of Small and Medium Enterprises
(ASME)
EDC@ASME
167 Jalan Bukit Merah
Tower 4 #03-13
Singapore 150167
Tel: (65) 6513 0388
Email: enquiries@edc-asme.sg
Website: http://www.edc-asme.sg/
Singapore Chinese Chamber of Commerce
and Industry (SCCCI)
EDC@SCCCI
47 Hill Street
#09-00
Singapore 179365
Tel: (65) 6337 8381
Fax: (65) 6339 0605
Email: edc@edc-sccci.sg
Website: http://www.edc-sccci.sg/
Singapore Indian Chamber of
Commerce and Industry (SICCI)
EDC@SICCI
SICCI Building
31 Stanley Street
Singapore 068740
Tel: (65) 6508 0147
Email: edc@edc-sicci.sg
Website: http://www.edc-sicci.sg/
Singapore Manufacturers’ Federation (SMa)
EDC@SMa
SPRING Singapore Building
2 Bukit Merah Central
#08-00
Singapore 159835
Tel: (65) 6826 3020
Fax: (65) 6826 3021
Email: edc@edc-sma.sg
Website: http://www.edc-sma.sg/
Singapore Malay Chamber of
Commerce and Industry (SMCCI)
EDC@SMCCI
15 Jalan Pinang
Singapore 199147
Tel: (65) 6293 3822
Fax: (65) 6293 3905
Email: gadvisory@edc-smcci.sg
Website: http://www.edc-smcci.sg/
Singapore Accreditation Council
1 Fusionopolis Walk, #01-02
South Tower, Solaris
Singapore 138628
Tel: (65) 6279 1855
Fax: (65) 6659 0640
Email: sac@spring.gov.sg
Website: http://www.sac-accreditation.gov.sg
Sales of Standards
Toppan Leefung Pte. Ltd.
1 Kim Seng Promenade, #18-01
Great World City East Tower
Singapore 237994
Tel: (65) 6826 9691
Fax: (65) 6820 3341
Email: singaporestandardseshop@toppanleefung.com
Website: http://www.singaporestandardseshop.sg
Standards Collection
National Library Board
100 Victoria Street
Lee Kong Chian Reference Library, Level 7
Singapore 188064
Hotline: (65) 6332 3255
Email: ref@nlb.gov.sg
Website: http://libguides.nl.sg/standards
Standards Development Organisations
Singapore Manufacturers’ Federation
Standards Development Organisation
2 Bukit Merah Central, #03-00
SPRING Singapore Building
Singapore 159835
Tel: (65) 6826 3088
Fax: (65) 6826 3113
Email: tan_jinsoon@sma-sdo.org.sg
Website: http://www.sma.sg
Singapore Chemical Industry Council
Standards Development Organisation
8 Jurong Town Hall Road
#25-04, The JTC Summit
Singapore 609434
Tel: (65) 6267 8930
Fax: (65) 6267 8893
Email: terencekoh@scic.sg
Website: http://www.scic.sg
Useful Contacts
EnterpriseOne
Tel: (65) 6898 1800
Email: enterpriseone@spring.gov.sg
Website: http://www.enterpriseone.gov.sg

20. SPRING Singapore
1 Fusionopolis Walk, #01-02 South Tower, Solaris, Singapore 138628
Main: +65 6278 6666 • Fax: +65 6278 6667
www.spring.gov.sg