Minister Tan encourages the community to explore for new ideas
The Singapore Indian Chamber of Commerce and Industry (SICCI) is to help all the 16 startups to pitch for investment and graduate into enterprises in the coming year. The results of six-month work by the local Indian community and businesses to nurture students into entrepreneurs.
The Singapore Indian community has collaborated to nurture 16 start-ups to instill an entrepreneurship culture in youths, specifically Indian youths, so that they can develop socially relevant enterprises that creates community resilience, said SICCI Chairman Dr. T. Chandroo at a prize giving ceremony held 20 Feb 2021.
Called “CATALYSE 2020: Startup with a Heart”, the start-up was a six-month initiative done in collaboration with Singapore Indian Chamber of Commerce and Industry (SICCI), People’s Association Indian Activity Executive Committees Council (called Narpani Pearavai in Tamil) Youth (NPY), SINDA Youth Club (SYC), Tamils Representative Council Youth Wing (TRC YW) and Young Sikh Association (YSA).
Dr. Chandroo estimates that each startup will be requiring SGD50,000 to SGD250,000 to further develop their ideas into viable business, assuring their SICCI will be looking at each of the 16 startups and helping them pitch to potential investors.
“Mentorship is a critical part of the entrepreneurship journey,” said Minister of State Alvin Tan while officiating at the ceremony for award winners.
Appreciating the joint Indian community efforts, Tan encouraged the community leaders to continue exploring new business ideas and realising them.
“Innovation and entrepreneurship will play a critical role in driving our (Singapore’s economic) growth and ensuring that we remain at the forefront of global competitiveness, said Tan who is Minister of State for trade and industry, culture, community and youth.
He underlined the importance of entrepreneurship in the future economy, adding that the world is evolving rapidly, and Singapore is faced with increased competition from around the world.
The inaugural event, to be held once in two years hence on, enable young entrepreneurs to embark on an entrepreneurial journey, he said, pointing out that it was programme run over six months especially through zoom sessions during the COVID-19 pandemic involving 150 students, who were drawn into 16 teams to pitch their ideas to renowned judges.
The three top winners from the community’s inaugural startup initiatives are already pitching to angle investors.
These are:
“My Bionic Bear” by students, Deepak Alagusubramanian, Mathan Chidambaranathan and Gajula Anirudh who said, “Our vision is to create a generation of students who are inquisitive, innovative and strive to explore the world around them through an active hands-on approach.”
The “My Bionic Bear” product comes in an assembly kit consisting of laser-cut wooden pieces and electrical components. Users will assemble the pieces following a visual tutorial with the guidance of a teacher or parent.
“Our mission is to provide a realistic hands-on engineering experience and allow basic circuit theory to be applied in the construction of a bionic bear,” added the trio.
“Hearty Spices” by Senthilkumar Subramanian, Tania Chattopadhyay and Iswariya Subramanian.
Startup “Hearty Spices” sells a Turmeric Latte Mix. This is a golden blend of 7 traditional spices in a western-style coffee mix to enjoy a healthy and refreshing drink any time of the day, explained the three-member team.
“When consumed regularly, the spice mix has numerous health benefits such as helping to improve immunity, regulate blood sugar, and even support heart health. The latte is also easy to make (just mix it with hot milk) and tastes great!” they said.
Startup “UVtensils” by Singaporean students Ganesh Gunasekeran, Tan Wanting Megan and Noorul Ameen Mohamed Nawfa is design to reduce the use of single-use plastic by making reusable utensils more convenient.
“Our product is a compact, self-sterilizing portable utensil kit that time-pressed consumers may bring around for their daily usage.
“To complement the UV sterilisation function, our product will feature a compact compartment with biodegradable wet wipes for maximum convenience and portability. This will eliminate the hassle of washing the utensils after each use,” explained the trio. #startups #fintech #innovations #investors /fiinews.com
