Startup Incubator ‘Pays It Forward’ To Local Startup Community
Devoted to changing the entrepreneurial culture from ground-up
From Left: Ko Tze-Shen, Co-founder and Resident Mentor of Angels Gate Advisory; Arvind Khattar, Co-founder of Angels Gate Advisory, and Christopher Quek, Director and Resident Mentor of Angels Gate Advisory.
Singapore – August 27, 2014 – Angels Gate Advisory (AGA), a Singapore-based startup incubator, is aggressively pushing its mission to ‘pay it forward’, in hopes to change the local entrepreneurial culture. Originating from the Angel’s Gate media platform that gave enterprisers the chance to pitch their dream business ideas to some of Asia’s most successful investors, AGA was founded a little over two years ago by a team of Singaporean businessmen and backed by Khattar Holdings. The incubator has now advised and mentored over 50 startups since 2013.
Having just celebrated their second year, they aim to ‘pay it forward’ by providing free advisory and guidance services for Singapore startups from any industry, as well as free incubation space. While it is also an appointed iJAM incubator that have access to a SME-supporting government grants, it does not ask for equity in exchange for government grants, which would be a refreshing change from the norm.
“If we contribute and invest time and energy freely into startups,” says Christopher Quek, Director and Resident Mentor of Angels Gate Advisory. “When they grow and become profitable, they too will contribute and invest time and energy into the next generation. We are community driven. Iron sharpens iron.”
Singapore is slowly growing to be considered the Silicon Valley of Asia. According to data from Hong Kong-based Asian Venture Capital Journal, venture capital invested in Singaporean tech firms by funds in 2013 totaled $1.71 billion, bringing local investments ahead of big players such as Japan, South Korea, and Hong Kong. However, with this exponential growth of startups in Singapore comes the darker side of entrepreneurship, with problems such as predatory incubation by inexperienced startups, and abuse of government grants fostering a dangerous handout culture.
This is where Angels Gate Advisory comes in. With the right expertise stemming from a team of local businessmen from various backgrounds, they would successfully be able to advise and lead new entrants with the knowledge that only experienced business-people will know. “We realised that many startups lack the ability to grow to become better companies due to lack of experience,” Says Ko Tze-Shen, Co-founder and Resident Mentor of Angels Gate Advisory. “Our vision, ‘Entrepreneurs Building Entrepreneurs’, support Singaporean startups by imparting our knowledge and wide range of experiences to the next generation of business people.”
Notable Companies supported by AGA include:
- KungfuMath.sg: founded by Mr Derrick Koh and his teacher Ms Foo P.C., and specializing in the development of educational gaming technology and content. Their success has led to a Thai international school adopting its e-learning portal.
- Loco: Aims to be a search engine on the go. As wearables become a thing of the present, Loco will provide information that is based on real-time geolocation. Loco is currently in talks with a corporate investor seeking to integrate Loco’s technology.
- Taste Genome: pioneering the full-scale application of big data analytics to recognize and understand everyone’s taste profile. Their analytical system aims revolutionize the entire food industry (from manufacturers to chefs) by providing a superior method in understanding and predicting trends that are occurring in their markets.
“AGA was formed to help guide and nurture early stage start-ups. We have quite a way to go to a fully matured and developed ecosystem but we have seen some very encouraging signs. We’re confident we can get there,” says Arvind Khattar, Co-Founder of Angel’s Gate Advisory.
About Angel’s Gate Advisory
Angel’s Gate Advisory (“AGA”) is the sole appointed advisory managing the investment and seed incubation of companies originating from the Angels Gate platform. The mentors are Singaporeans who focus on building Singapore-based startups that make a difference for Singapore and the world’s economy. Our cause is social first. We believe that only entrepreneurs can advise and nurture another entrepreneur.
AGA was founded by a team of Singaporean businessmen and backed by Khattar Holdings. Our mentors are entrepreneurs holding experiences of success and failures, and come from various backgrounds, from those who do traditional hospitality, consultancy, education, enterprise solutions, finance, F&B to those who successfully exiting their startup tech companies. These lessons are valuable and will be imparted to our incubatees.