Singapore Press Holding’s Plug-and-Play accelerator recently held their open day at the Ground Theatre at Scape.
Eight startups, mainly in the media, advertising and e-commerce businesses, pitched their business ideas to potential venture capitalists in an exhibition setting.
These eight made the cut from an initial pool of 300 applicants. They include Refash, an e-tailer that buys and sells second-hand fashion apparels, Optimate, a big data company that utilises artificial intelligence and Fixir, a real-time car service app.
The initiative was first launched in 2015 last year and it provided a rare but fresh sight for a large media corporation to venture into the investing scene.
During the exhibition, the various start-up entrepreneurs weaved their learning journeys into mini presentations for potential investors.
They summarised their business strategies and prospects, and dealt with enquiries.
With dim lighting and cool techno-like interior design, the ambience sets the tone for a friendly and hopeful investor relationship.
The startups operate in a variety of different verticals but all resolve to close the digital gaps that conventional businesses are currently overlooking.
When interviewed, some described their start-up businesses as their lifeblood. One founder even revealed that he has given up on his consulting career despite its stability and remuneration that is five times his current one; all in the name of passion and hope.
With so much vibrance and enthusiasm in the startup scene, hopefully these businesses will bear fruits in the near future.