Singapore, May 20, 2009: Exploit Technologies and Singapore Manufacturers’ Federation (SMa) signed a memorandum of understanding (MOU) to enhance and accelerate Angel investors networking activities and to support the start ups in Singapore. 

 

The strategic collaboration established under the Exploit Technologies Angel Investment Management initiative (AIM) enables the start]ups and SMa members to have greater access to Angel investors and updates on technology developments in Singapore and in the region.

 

Under the new partnership, Exploit Technologies and SMa will collaborate to organize Angel networking events and undertake joint marketing activities to promote Angel investments in local start]ups. In addition, Exploit Technologies will continue to channel a pipeline of start]ups 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, "The recession is likely to have a severe impact on new and small businesses if help was not rendered in time. SMa, as a representative body for the manufacturing community in Singapore, can provide invaluable support to start]ups through its extensive network and its members’ experience in various areas. I congratulate SMa for coming onboard the Angel Investment Management programme to help Singapore start-ups in difficult times like now. We are calling for more committed individuals and organizations to step forward to join us in this quest to nurture homegrown start-ups.”

 

Under the MOU, SMa will also link up its members who are keen to be Angel investors for these potential start-ups. In addition, Exploit Technologies and SMa may during Networking Events showcase technologies from the A*STAR research institutes to provide an opportunity for SMa members to adopt leading edge technologies to either upgrade their current business operations or to venture into new business areas.

 

As the leading association for local manufacturers, SMa has an extensive network of established manufacturers and experienced businessmen who can help to mentor young entrepreneurs by sharing valuable insights, and thereby steering these startups into profitable organizations.

 

Mr Renny Yeo, President of SMa added, “This Angel Investment Management initiative is an excellent platform for our local manufacturers to share industry knowledge and expertise with these start-ups. In addition, some of our more established members can provide the much needed financial support and valuable mentorship to spur on these entrepreneurs. SMa is encouraging our members to play a pro-active role in redefining the manufacturing landscape in Singapore by innovating through technology and establishing closer working relationships between organizations and new start-ups.”

 

Mr Boon Swan Foo and Mr Renny Yeo signed the MoU in presence of Mrs Lim Hwee Hua, Second Minister for Finance and Transport, Government of Singapore and Ms Yena Lim, Managing Director of the Agency for Science, Technology and Research (A*STAR), Singapore.   

 

Besides SMa and TTN, the Business Angels Network South East Asia (BANSEA), NTU Alumni Club and HP Alumni joined AIM in the last few monthly. To facilitate the collaboration of joint programes, Exploit Technologies is hosting the BANSEA Secretariat at its premise located at Biopolis, Singapore.