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Factsheet on ACE Startups_FINAL

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					                                                                             Annex 2    ACE Startups
FACTSHEET

Action Community for Entrepreneurship (ACE) Startups


ACE Startups

Objective
               ACE Startups aims to help entrepreneurial individuals take the first step to start and
               build their first venture into sustainable businesses and to develop entrepreneurship so
               as to create more and better jobs for Singaporeans.

Support        ACE will provide grant support of up to $50,000.
Level

Eligibility    The programme is open to Singaporeans / Permanent Residents who are first-time
Criteria       entrepreneurs. In addition, the applicant should meet the following requirements at the
               time of application:

               a)   The applicant(s) must not have:
                    - registered or incorporated any business entity
                    - received any funding for the proposed business idea from another government
                      organisation;

               b)   The applicant(s) must hold or propose to hold at least 51% equity in the company;
                    and

               c)   The proposed business idea should not be in the following categories: night
                    clubs, lounges, bars, foot reflexology, massage parlours, gambling, prostitution,
                    social escort services, employment agencies (including recruiting foreign work
                    permit holders and workers/ support staff, relocation services, and manpower
                    services), and geomancy.

Evaluation     Differentiated Business
Criteria        How does the company differentiate itself from its competition?
                How different or novel is the idea/product/service/business model/ process
                   compared to what is already in the market?

               Feasibility of the business model
                Is the revenue model sustainable?
                How does the company manage its cashflow?
                Does the business have the potential to scale up?

               Potential market opportunity
                What is the target market(s)?
                How sizeable is the targeted market(s)?
                How does the company reach out to its targeted market(s)?

               Management Team
                How committed and passionate is the team to the business?
                What skill sets does the team possess which are relevant to the business?
                How will the applicant(s) contribute to the business development?

               An evaluation panel of a team of entrepreneurs, venture capitalists and angel investors
               will evaluate the applications based on the above criteria and decide on the funding
               amount.




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                                                                         Annex 2     ACE Startups




    Company
                  Brief Business Profile             Entrepreneurs’ Profile          Mentor
    Name

                  ALL ID Asia has developed an       Founder: Alfred Leong
                  integrated Automatic                                               Mr Lim
                  Identification and Data            Alfred graduated with a         Song Joo
                  Collection solution suite called   Bachelor of Sciences            (aka SJ
                  Pesona for ID and smartcard-       (Honours). He started off
                                                                                     Lim),
                  based tracking. Targeting          as a sales executive in a
                                                                                     Founder &
1   All ID Asia   corporate clients, the Pesona      tech company, moving his
                  suite of software provides an      way up to being a director      CEO, BWG
                  integrated platform for            before he left his job to set   Consulting
                  identification card management,    up All ID Asia.                 Pte Ltd
                  visitor management, and
                  specialised smart card             Contact:
                  personalisation systems.           alfred@allid.com.sg


                  ARCSIS is collaborating with the
                  Food Innovation & Resource
                  Centre (FIRC) to develop
                  healthier options for a range of
                                                     Founder: Caleb Leow
                  specialty dishes inspired by
                  different places around the
                                                     Caleb is currently an
                  world.                                                             Incubated
                                                     undergrad student at NUS.
2   Arcsis                                                                           by NUS
                  Through food innovation,                                           Enterprise
                                                     Contact:
                  customer-centric design,
                                                     cj.dusk@gmail.com
                  interesting automation and fully
                  customisable options, ARCSIS
                  aims to provide every customer
                  with a satisfying dining
                  experience in a cosy setting.


                                  st
                  The essential 21 century party
                  tool for today’s fast-paced
                  entertainment packed world.
                  BBP tells you where the coolest    Founder: Subaish s/o
                  parties are and – more             Rajamanickam
                  importantly – which of those                                       Ms Elaine
                  parties your friends and           Subaish is currently a final-   Teh,
                  acquaintances are at.              year student at SMU. He         Executive
    Biggest                                          has accumulated event           Director,
3   Baddest       BBP is a mobile app akin to a      management experience           Octopus
    Parties Inc   compass to the party world.        through work and                Group Pte
                  The app will be a one-stop         internship.                     Ltd
                  guide for partygoers, offering
                  information about clubs, drink     Contact:
                  specials, location based           subaish@biggestbaddestp
                  services such as where are the     arties.com
                  nearest watering holes, cover
                  charges, and redemption of
                  rewards.


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                                                                       Annex 2    ACE Startups




    Company
                Brief Business Profile              Entrepreneurs’ Profile        Mentor
    Name
                BBP will be a free-for-download
                mobile app compatible with all
                smartphones. It will sync with
                the user’s existing social media
                apps to procure information
                about social circles and
                preferences. In short, it’s a
                hybrid between Facebook and
                Foursquare with a party twist.


                Coordsafe promotes better
                eldercare in a fast- paced
                society. Its key product,
                Coordsafe, is a GPS/GSM-
                enabled bracelet which syncs
                with multiple platforms such as
                computers and mobile phones.

                The water-proof, safety lock
                function sends out an alarm if it   Founder: Jack Li Hui          Mr Hui Wing
                isn’t secured properly or                                         Feh, Co-
                removed accidentally.               Jack worked in a              Founder &
                Coordsafe allows perimeters of      government-linked
                                                                                  Managing
                Safe and Danger Zones to be         company for the last eight
                                                                                  Director,
4   Coordsafe   set, so once the wearer leaves      years, managing key IT
                the Safe Zone or enters the         projects.                     ODM
                Danger Zone, Coordsafe will                                       Innovations
                send out an audible reminder.       Contact:                      Pte Ltd
                Coordsafe also records the          Jack_lihui@live.com.sg
                routes taken in the last 24
                hours, which helps in tracking
                the wearer in case of
                emergency.

                Coordsafe can be further
                customised and the technology
                embedded in items which are
                emotionally significant to the
                wearer, such as bracelets.

                                                    Founder: Gim Huat
                Discarver aims to develop
                smart solutions for car owners.     Gim Huat has worked in
                By making available up- to-         the telecommunications
                date information on the health      industry, where he
                                                                                  Incubated
                of their cars and timely advice     established a track record
5   Discarver                                                                     by NTU
                when problems are detected –        in developing innovative
                                                                                  Ventures
                which helps mitigate the cost of    solutions in the telematics
                repair and maintenance—             space. He also has
                Discarver aims to give car          experience with hardware
                owners a peace of mind.             electronics projects.


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                                                                        Annex 2    ACE Startups




    Company
                  Brief Business Profile               Entrepreneurs’ Profile      Mentor
    Name


                  Greendot aims to bring the next
                  generation of “green fast food”
                  and inspire social
                  consciousness in consumers,
                  starting with youths.

                  Greemdot recognises that
                  many consumers, including
                  youths, are keen to explore
                  plant- based e.g. vegetarian
                  diets but lack accessible,
                  quality alternatives. In addition,   Co-founders: Justin Chou
                  they might have some pre-            Zhi Qi, Fu Yong Hong,
                  conceived notions or                 Leonard Ryan Lim Shu Jie
                  stereotypes about such diets.                                    Incubated
    Greendot      To address these gaps,               The co-founders are
6                                                                                  by NUS
    Gourmet       Greendot aims to change the          undergraduates at NUS
                                                                                   Enterprise
                                                       and MDIS.
                  perception of plant- based diets
                  by providing nutritious yet          Contact: Justin Chou
                  convenient and tasty meals in        justin.chou.zq@gmail.com
                  visually- attractive packaging,
                  targeting students in tertiary
                  institutions.Greendot aims to
                  achieve a triple bottom-line by
                  pursuing a sustainable
                  business model, making a
                  positive impact on the
                  environment by encouraging
                  more consumers to go green,
                  and giving back to society by
                  reaching out to the less-
                  privileged groups.

                  Innervative Learning believes
                  that youths need knowledge           Founder: James Chia
                  outside the classroom to
                  navigate our increasingly-           James graduated from an
                  complex world. To reach out to       Ivy League university. He
                  these tech-savvy youths,             was working at a
    Innervative   platforms which they live and        government agency until
7   Learning      communicate in, such as              he founded Innervative
                  mobile apps, have to be used.        Learning.

                  Innervative Learning's key           Contact:
                  product, Econopolis, is a mobile     james@innervative-
                  application which shares the         learning.com
                  thrill of learning economics and
                  financial management

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                                                                        Annex 2     ACE Startups




    Company
                Brief Business Profile               Entrepreneurs’ Profile         Mentor
    Name
                principles to youths aged 12-18.
                Most games attempt to teach
                financial literacy concepts, but
                Econopolis goes beyond that to
                bring core economics principles
                to life in an interactive role-
                playing management game.

                The user gets to create a city
                on a newly- discovered planet
                and make economic decisions
                on what to build and what
                policies to pursue in order to
                grow their economy. They are
                constantly challenged to steer
                their cities through economic
                crises, eventually emerging as
                an Economic Powerhouse.

                An online B2B platform that
                enables deal sites to source for
                products on a global platform.
                Uberquery’s partner deal sites       Founder: Yow Yong Hui
                will be able to schedule their
                deals and settle fulfilment terms    Yong Hui is an Economics
                with the supplier or retailer        major at the University of     Mr     Manoj
                quickly and efficiently on a         Sydney. He is currently on     Sharma,
                single platform.                     a hiatus from his studies to   Founder,
    Uberquery
8                                                    pursue his first business      DifferWorld
    Pte. Ltd.
                This platform brings together        venture.                       Pte Ltd
                deal sites and primary
                producers with excess goods          Contact:
                inventory. This is similar to        yonghui.yow@gmail.com
                marketplace sites like
                alibaba.com, where primary
                producers, suppliers and
                retailers convene.


                Wan La is a financial portal         Founder: Wilson Ong Wei
                which offers bite-sized quality      Zheng and Maslema
                trading strategies and               Zainal Abidin
                techniques. Users indicate and
                the type of information they         Wilson is an
                wish to receive and these will       undergraduate at SMU,
                                                                                    Incubated
9   Wan La      be pushed to them.                   majoring in Accounting. He
                                                                                    by SMU
                                                     has more than five years
                Targeted at young                    of experience with trading.
                professionals who are
                interested in learning or            Contact:
                improving their trading skills but   Wilson.ongwz@gmail.com
                do not have the time to go into
                in-depth research.
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                                                                       Annex 2     ACE Startups




     Company
                 Brief Business Profile             Entrepreneurs’ Profile         Mentor
     Name

                 The website will help amateur
                 traders/investors avoid major
                 pitfalls and make more
                 profitable trades through real-
                 time information and real- life
                 examples.



                 Windphony.com is an online
                 platform that aims to breach the
                 current convention by providing
                 every composer an opportunity
                 to self-publish and share their
                 compositional talents via
                 Windphony.com’s digital music
                 score distribution platform.       Founder: Tan Siow Wee

                 Windphony.com’s automated          Siow Wee is a certified        Mr Charlie
                 system helps composers free        regional application           Sim, Co-
                 up time to invest in creative      engineer in a Taiwanese        founder,
     Windphony   output while Windphony.com         MNC handling electronics       Renovell
10   .           manages their sales, distributes   component distribution. He     Pte Ltd &
     com         their music and markets their      has spent more than 20         Allied Intuit
                 talent to the world.               years with a local band.       Pte Ltd

                 Windphony.com is also a real       Contact:
                 market assessment platform for     siowweetan@windphony.c
                 every composer to get              om
                 feedback and test the response
                 of the music industry to their
                 work. Through this platform,
                 they can potentially jumpstart
                 their career in the music
                 industry.


                                                    Co-founders: Thomas
                                                    Wong and Daniel Yap
                 ZiniCat is your foodie buddy,                                     Ms
                 constantly learning and seeking    Thomas has management          Genevieve
                 to understand your food and        and strategy consulting        Heng,
                 dining preferences. Through        experience in China and
                                                                                   Managing
                 creatively re-applying current     Singapore, and business
                                                                                   Director,
11   Zinicat     technologies used in financial     development experience in
                 analytics, the app is able to      the financial sector. Daniel   Chepstow
                 deliver highly- customised food    has experience in financial    Capital
                 recommendations based on           and social analytics and       Advisors
                 user profiles.                     project management.
                 .
                                                    Contact: info@zinicat.com


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Annex 2   ACE Startups




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