Singapore, Feb 18, 2009: Exploit Technologies and the Hewlett Packard (HP) Alumni will announce at a memorandum of understanding signing ceremony that a strategic collaboration will be established under the Exploit Technologies Angel Investment Management initiative (AIM). This collaboration serves to enhance and accelerate Angel networking activity, and enable startups to have greater access to Angel investors in Singapore and in the region.

 

Under the new partnership, Exploit Technologies and HP Alumni Angel Networking Group will collaborate to organize Angel networking events and undertake joint marketing activities to promote Angel investments in local startups. In addition, Exploit Technologies will continue to channel a pipeline of startups from the Agency for Science, Technology and Research (A*STAR) and the Technology Transfer Network (TTN) to Angel investors during its angel networking activities such as regular pitching sessions and coordinated luncheons and tea receptions.

 

Mr Boon Swan Foo, Executive Chairman of Exploit Technologies and Chairman of TTN said, "Putting monies into startups that demonstrate good market potential has provided cautious investors with an excellent investment alternative in this bleak economic climate. Prudent investors who are not prepared to dip into the established markets because of looming uncertainties should look at investing in startups that have no financial baggage; and have real valuation adjusted for market conditions.”

 

HP Alumni will also link up its members who are keen to be Angel investors with potential startups. Mr Koh Boon Hwee, Chairman of the HP Alumni said, "This collaboration with Exploit Technologies under the Angel Investment Management (AIM) initiative could not be more timely. HP Alumni’s members have a broad range of industry and business expertise. It is our desire that we will be able to provide these networks to the A*STAR and TTN startups. We will certainly be keeping an eyeout for interesting investment opportunities.”

 

Mr Lim Chuan Poh, Chairman of A*STAR, said, “For startups to succeed, they will need much more than good technology and a good business plan. They will need ready access to funds and committed mentors, who can help guide them in the business world. I am confident that with HP Alumni onboard AIM, startups will be able to tap more effectively on angel investors for both funds and expertise to enhance their chance of success. In the process, we should see a more vibrant innovation and enterprise landscape in Singapore”.

 

Besides HP Alumni and TTN, the Business Angels Network South East Asia (BANSEA) and NTU Alumni Club also joined AIM last year. To facilitate the collaboration of joint programs, Exploit Technologies is now hosting the BANSEA Secretariat at its premise located at Biopolis.

 

Exploit Technologies launched the AIM initiative on July 15, 2008 to encourage innovation in the Singapore investment landscape and inject new vibrancy into the Singapore economy. It achieves these through facilitating and catalyzing Angel investment in startups, which will also benefit aspiring entrepreneurs. In particular, AIM encourages Angel networks to be formed in special interest groups and helps Angel investors to gain access to a large pool of Intellectual Property portfolios and startups in the Singapore Agency for Science, Technology and Research (A*STAR) and other partners of the Technology Transfer Network (TTN).