FundedHere Partners Singapore University of Technology and Design To Nurture Local Startups
Singapore, 26 May 2017 – FundedHere, Singapore’s first licensed equity and debtbased crowdfunding platform, announced today that it has signed an agreement with Singapore University of Technology and Design (“SUTD”) to foster a culture of entrepreneurship in Singapore students amid increasing global competition.
Under the Memorandum of Understanding (“MoU”), FundedHere will list SUTD Startups on their equity crowdfunding platform for investment. FundedHere will also establish a work placement programme for selected SUTD students as well as mentor promising startups.
SUTD students and startups will have the opportunity to interact with FundedHere through entrepreneurship-related activities, as well as experience the ease of equity crowdfunding through running their own campaigns on FundedHere’s platform.
“The local startup environment has developed rapidly in recent years. Singapore offers excellent opportunities for aspiring entrepreneurs who wish to take their fresh ideas to the market due to its close proximity and easy access to some of the world’slargest and fastest-growing markets,” said FundedHere’s Executive Director, Mr Daniel Lin.
Commemorating the first anniversary of receiving its Capital Markets Services licence by the Monetary Authority of Singapore (“MAS”) in March 2016, FundedHere said it will begin offering crowdfunded equity or lending opportunities to Professional Investors (“PIs”) other than Accredited Investors (“AIs”).
“We hope that this strategic partnership with a local university will be the first of many to come. With the relaxation of MAS guidelines, we can now increase our pool of crowdfunding investors to include a much larger number of PIs. We are very excited to work with SUTD to groom future generations of entrepreneurs,” added Mr. Lin.
FundedHere announced on 28 March 2017 that it will expand into Southeast Asia, starting with Malaysia and Indonesia. Leveraging the platform’s foundation in Singapore, companies and investors can conduct cross-border crowdfunding transactions in the region.
Over the past year, FundedHere has helped seven Singapore companies raise a combined S$4 million through its online platform, www.fundedhere.com. These were shortlisted from more than 500 pitch decks before they were offered on the platform. New investments start from as low as S$5,000.
FundedHere is the first registered private equity and lending-based crowdfunding platform for promising businesses in Asia issued by Monetary Authority of Singapore (MAS). FundedHere has built an ecosystem for investors and businesses, utilizing Singapore as a springboard for Asia.