[31 July 2006]
HOTSpots Programme celebrates 4th anniversary with latest partner and three new initiatives

The Singapore Management University (SMU) is the latest partner to join HOTSpots, a joint private-public sector partnership programme, which creates an island-wide network of facilities for entrepreneurs. Three new initiatives were also introduced during the HOTSpots 4 th anniversary celebrations.

"HOT" stands for "Hub of Technopreneurs". HOTSpots are physical facilities in Singapore tailored for entrepreneurs and technology-related offices. Initiated by the Singapore Economic Development Board (EDB), it is the result of a first-ever partnership among some of Singapore's biggest property companies: Ascendas Land (Singapore) Pte Ltd, CapitaLand Commercial and Integrated Development Ltd, Far East Organization, JTC Corporation, Suntec City Development Pte Ltd, Housing Development Board and academic partners: Nanyang Technological University (NTU), National University of Singapore (NUS), and now SMU. Together, they collectively form a belt of 13 strategically located entrepreneur centres throughout Singapore, allowing for a greater pool of facilities and activities.

Newest addition to the HOTSpots family

SMU is the newest member to the growing group of 10 partner organizations, and will be opening its Business Innovations Generator (BIG) facility to HOTSpot enterprises. BIG was set up to nurture and promote student entrepreneurial initiatives and create a vibrant entrepreneurial environment in the new city campus in the area of funding, mentorship and business incubation space. HOTSpots enterprises are welcomed to collaborate with SMU supported enterprises. In doing so, there will be opportunities for HOTSpots enterprises to tap on the various programmes, faculty initiatives, funding and incubation space with SMU's city campus.

President of SMU, Professor Howard Hunter said, "SMU is proud to be a HOTSpots partner. Being the first and only university strategically located in the heart of the city, SMU has been actively leveraging our proximity to the financial and business district to form beneficial and meaningful alliances and partnerships with the industry and businesses. This new partnership will further plug the SMU community into a sprawling network of start-ups, technopreneurs, venture capitalists and business angels. Through our various programmes, platforms and initiatives, we hope to work with the HOTspots partners and realize our mission to produce students who are visionary entrepreneurial leaders for the knowledge-based economy."

New initiatives

Three new initiatives have also been launched under HOTSpots this year - HOTAngels, HOTips and HOTShots.

For anyone with a bright idea and want to start a business, the most difficult obstacle is usually getting initial funds. HOTAngels is a platform where business angels share what they look for when investing in new ventures and thus helping these businesses secure that initial fund. Aspiring entrepreneurs can also network with business angels as well as get advice on making their business plans more "angel investible".

HOTips provides a platform for participants to learn from successful entrepreneurs via fireside chats. Structured as a small group interaction, budding entrepreneurs can get useful hints or pragmatic solutions to problems they encounter from those who have succeeded. The first session will be held by the serial entrepreneur Mr Ong Peng Tsin in August. Mr Ong founded Interwoven, which was successfully listed in NASDAQ in 1996. When he returned to Singapore in 2001, he founded Encentuate, a company that specialises in digital access security. The company has offices across North America, Europe and Asia.

HOTShots is a power speaker series that aims at highly accomplished personalities in new venture creation and growth in a lecture style format. They share their success stories, lessons learnt and inspire young entrepreneurs to chase their dreams. The first speaker will be Mr Tan Lip-Bu, the founder and chairman of Walden International. Mr Tan is regarded by many as a pioneer in venture capital in Asia. His VC firm has a track record of helping nearly 300 companies across the tech spectrum, and more than 60 of them have gone public.

Mr Ko Kheng Hwa, EDB Managing Director, said, "Since HOTSpots started four years ago, there has been a lot of buzz in the enterprise scene in Singapore by creating networks, partnerships and business opportunities. I am heartened to note that around 4,600 technopreneurs have participated in the events in the past year, giving a powerful testimony of the value of this public-private partnership."

On average, there is more than one HOTEvent organised every fortnight. Details of all HOTSpots initiatives can be found in Annex A. More information on HOTSpots can be found at www.singaporehotspots.com