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DAILY AGRI REPORT BY EPIC RESEARCH-28 SEPTEMBER 2012
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The Female Founders Singapore Startup Ecosystem Overview.

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The Female Founder’s ecosystem overview offers insights into the entrepreneurs, investors, networks, and coworking spaces of the entrepreneurship and intrapreneurship decision-makers in Singapore. This research-driven document aims at:

Understanding the changing ecosystem of the female entrepreneurship and intrapreneurship in Singapore.
Identify and improve visibility of female entrepreneurs and the supporting ecosystem in Singapore with media, VCs in order to increase gender equality.
Plan effective policy and advocacy programs to engage the ecosystem against unconscious gender bias.

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The Female Founders Singapore Startup Ecosystem Overview.

  1. 1. PROMOTING GENDER EQUALITY IN ENTREPRENEURSHIP AND LEADERSHIP Singapore’s Female Entrepreneurs Ecosystem Overview November 26th, 2015 www.femalefounders.com Research - Policy - Advocacy 1
  2. 2. About this overview Singapore’s Female Entrepreneurs Ecosystem Overview is work in progress with an aim of representing the true market opportunity. We see this as an opportunity to crowdsource and request you to contribute additional female entrepreneurs and ecosystem players. Please submit your suggestions to ecosystemSG@femalefounders.com Thank you for your support. DISCLAIMER: Although Female Founders takes every reasonable step to ensure that the information thus compiled and/or collected is accurately reflected in this overview, Female Founders: (i) provide the Data “as is, as available” and without warranty of any kind, either express or implied, including, without limitation, warranties of merchantability, fitness for a particular purpose and noninfringement; (ii) make no representations, express or implied, as to the accuracy of the Data contained in this Report or its suitability for any particular purpose; (iii) accept no liability for any use of the said Data or reliance placed on it, in particular, for any interpretation, decisions, or actions based on the information in this overview. 2Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  3. 3. Goals of the Singapore Ecosystem Overview The Female Founder’s ecosystem overview offers insights into the entrepreneurs, investors, networks, and coworking spaces of the entrepreneurship and intrapreneurship decision- makers in Singapore. This research-driven document aims at: Understanding the changing ecosystem of the female entrepreneurship and intrapreneurship in Singapore. Identify and improve visibility of female entrepreneurs and the supporting ecosystem in Singapore with media, VCs in order to increase gender equality. Plan effective policy and advocacy programs to engage the ecosystem against unconscious gender bias. 3Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  4. 4. *Entrepreneurs are defined by the OECD as individuals who display the readiness to take risks with new or innovative ideas to generate new products or services and are involved in the day-to-day running of the company to differentiate them from mere financiers such as business angels, shareholders, silent partners etc. Contents Introduction Supporting Ecosystem: Key players Female Entrepreneurs* in Singapore Female VCs and VC’s investing in female-led companies 1. 2. 3. 4. 4Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  5. 5. Intro to the Singapore landscape 5Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  6. 6. Why this overview Businesses with women do better but women receive a fraction of VC funds1. Women entrepreneurs report average annual sales of USD 9.1 million versus men at USD 8.4 million. 2 1 Data referring to enterpreneurs in 17 countries (BNP) or teh US (Babson College). 2 Data BNP Paribas Global Entrepreneurialism Report 3 Women Entrepreneurs 2014: Bridging the Gender Gap in Venture Capital, Babson College Companies with women CEO only receive 3% of VC dollars (1.5bil. Out of 50.8 bil.)3 Businesses with a woman executive team are more likely to have higher valuations at both 1st and last funding (64% higher and 49% higher) 3 6Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  7. 7. Why Singapore Singapore’s entrepreneurship ecosystem offers favourable conditions but women don’t fully reap its benefits 52% of start-up founders1 in SG hold a Master’s or PHD. (vs. 42% in SV & 49% in TA2 )3 32% of founders are serial entrepreneurs. (vs. 56% in SV & 47% in TA) 3 Average age of founders in Singapore is 33. 3 1,400 tech-enabled start-ups and 2,400 people are currently estimated to be in the Singapore ecosystem3. Singapore is ranked 17th on the Global Start-up Ecosystem Index as the first city from Asia.4(The list is toped by SV, TA and Los Angeles.) 1Refers to tech-enabled start-ups. 2SV and TA are abbreviations of Silicon Valley and Tel Aviv. 3PWC Study, Singapore’s tech-enabled start-up ecosystem, March 2015. 4Start-upGenome, Start-up Ecosystem Report 2014. 5Mastercard Index of Women Advancement 2015. 42.1is the proportion of female to every 100male business owners.5 (Australia 50.6, , Japan 20.6, New Zealand 43.7, Philippines 36.4, Vietnam 42, Thailand 32.9) 7Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  8. 8. How Singapore compares 5% 10% Singapore Silicon Valley Singapore US 7.9% 16.6% Philippines Singapore Ranked 7 Ranked 54 Percentage of women entrepreneurs in tech-enabled start-ups1 Percentage of women members on corporate boards2 Gender Gap Ranking3 1 PWC Study, Singapore’s tech-enabled start-up ecosystem, March 2015 2 Catalyst.org and Board Agender Singapore 3 Global Gender Gap report , WEF, 2015 8Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  9. 9. 1. Female Entrepreneurs you need to know in Singapore 9Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  10. 10. Female founded companies that have been acquired Alexis Horowitz Luxola Claire Mula Sprooki *Alphabetical order by first name Lim Qing Ru Zopim Shao Ning JobsCentral Amelia Chen LoveByte Althea Lim Gushcloud Daphne Teo BigDeal Elfaine Tan EK Media Angeline Tham Soldgers Kate Tan Eriin Kinerit Karin Singapore DIne Maisha Miranda Eriin Nicole Yee CozyCot Qiuyan Tian Soldgers Zhi Min Seetoh Indieescapes Elaine Lor Tech Sailor Gwendolyn Tan SG Entrepreneurs
  11. 11. Pranoti N CTO- Rotimatic Roshni Mahtani CEO- Tickled Media Rosaline Koo CEO- CXA 11 Entrepreneurs leading fast-growth businesses in Singapore Yiping Goh CEO - All Deals Asia Teo Jia En COO- Roomorama Tan Hooi Ling Cofounder - GrabTaxi Sashim Parmanand CEO - One Animation Charlene Koh CMO - Paktor Grace Park Chairman - Doc Doc Emily Hamilton MD - Bellabox Kersie Koh Creative Director - Clozette Norma Sit CEO - Numoni Deborah Wee Head of ops - HipVan Amanda Ernst CEO Duriana Lynette Seah CEO - Alpha7 Consultancy Stephanie Chai CEO - Luxenomad Veronica Chew CMO - Healint *Alphabetical order by first name, Entrepreneurs have raised over $1m USD VC Funding Joya Zhao Cofounder - iCarsClub Jeeta Bandopadhyay Cofounder - Tookitaki Shagufta Anuraq Cofounder- Livspace Jamie Teo Cofounder - 12 Cupcakes Guan Dian VP - Patsnap
  12. 12. Lyn Lee Awfully Chocolate Olivia Lum Hyflux *Alphabetical order by first name 12 Business trailblazers Elim Chew 77th Street Cynthia Chua Spa Esprit Group …and more to come Claire Chiang Banyan Tree Hotels and Resorts Viola Tan Love Bonito Christina Ong Club 21 Goh Soo Kim Singapore Dance Theatre Janice Wong 2am Leaena Tambyah AWWA Rachel Lim Love Bonito Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  13. 13. 13 Infocus: Olivia Lum; Hyflux A keen knack for finding opportunity combined with the entrepreneurial spirit to work it through has been the constant theme in Olivia Lum’s rags to riches story. As a child, she performed odd jobs, but chiefly sold fruits, sandwiches, ice cream, and even pairs of jeans upon recognising the demand for these items among her schoolmates. By the time she was nine, she was the sole breadwinner of her adoptive family. At 16, and with only $15 to her name, Olivia left her small town in Perak, Malaysia to study university in Singapore. She continued to peddle various items to make ends meet, but this time used her earnings to set up a partnership venture after discovering another need: to operate canteens at construction sites. During the mid-1980s, Olivia had to bank the entrepreneurial fire as she faced economic recession. Armed with an honors degree in chemistry from the National University of Singapore, she instead took on work as a lab chemist at Glaxo Pharmaceuticals. There, however, she chanced upon another potential business: a water treatment and recycling facility in water-scarce Singapore. So in 1989, at age 28, Olivia took the biggest plunge: she left her well-cushioned job and then sold her apartment and car. She used the money raised to build her own water treatment company. What started out with three employees selling water treatment systems grew into a million-dollar company in five years. Olivia’s company became the market leader in water treatment systems, thanks to the membrane technology she brought into Singapore in 1993. Eight years later in January 2001, Hyflux became the first water treatment company to be listed on the Singapore Stock Exchange. Today, the company boasts more than 2,000 employees worldwide and Hyflux membranes can be found installed in over 400 locations globally.
  14. 14. 2. VCs in Singapore: Investing in women and employing senior women 14Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  15. 15. VCs that have invested the most in female-led companies based in Singapore 15 Investors No. of Portfolio Companies No. of Female Founded Portfolios Female Founder CEO Capital Injected LionRock Capital 6 4 (66%) 2 $3m-$4m Vertex Ventures 6 4 (66%) 1 above $10m Tigris Capital 10 3 (30%) 3 under $1m Golden Gate 13 3 (23%) 2 $3m-$4m Wavemaker 28 6 (21%) 1 $2.5m Jungle Ventures 24 4 (17%) 1 unknown 500 Startups 20 3 (15%) 1 under $1m *Source: press releases, public information and company websites Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  16. 16. Women VCs in Singapore Carmen Yuen Vertex Venture Holdings Monica Tsai Singtel Innov8 Ventures Hui Hsing Ma TVM Capital Christina Teo Capital Pte Rina Neoh Mercatus Capital *Alphabetical order by first name 16 Shirley Wong TNF Ventures Soo Boon Koh iGlobe Partners Soo Ping Yong Walden International Evie Zhang Vertex Venture Capital Kris Leong Walden Intl
  17. 17. VCs in Singapore employing women analysts 17Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  18. 18. 18 Infocus: Jenny Lee; GGV Capital Forty-two-year-old Jenny Lee is quite easily one of the most respected figures in the world of China’s tech start-ups. Managing Partner at the venture firm GGV Capital, Lee is said to have the Midas touch. In nearly a decade with the firm, she has invested in over 30 companies, which include many of the biggest and brightest stars of China’s tech world. Her investments in China include YY, the US$3 billion social network; the country’s largest mobile browser UC Web; online shopping behemoth Alibaba and the rapidly growing phone company, Xiaomi. Unlike the legendary fictional character, Lee’s ability to turn everything she touches into gold is not down to a boon or a fluke. It is, in fact, rooted in years of on-ground experience and tenacity. Born in Singapore to a school teacher dad and a homemaker mum, Lee left the country in 1991 to study electrical engineering at Cornell University. She came back to Singapore briefly to work for Singapore Technologies Aerospace, before leaving again – this time to get her MBA at Kellogg School of Management, Northwestern University. While the MBA may have strengthened Lee’s business and financial acumen, it is her engineering degree and experience working as a jet engineer that equipped her with two of the most important skills that underpin her success as an investor -- understanding of commercialization of technology and ability to recognize where business disruptions can occur. Lee has figured in the Forbes magazine Global Top 100 VC Midas list every year since 2011. In 2015 Lee is listed as the top female venture capitalist and figures as #10 on the Midas list -- the first time a woman has broken into the top 10.
  19. 19. 3. Supporting Ecosystem for Female Entrepreneurs in Singapore 19Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  20. 20. Co-Working Spaces 20 Company Address Features Founder 176 Joo Chiat Rd, #02-01, S427447 For women only Michaela Anchan Claymore Connect 442 Orchard Road, #03-01 Singapore 238879 Day-care provided Rachel Teo, Elisabeth Wu, Tjin Lee, Elaine Kim 531 Upper Cross Street, #03-11, S050531 For women only Zenn 75 High Street, S179435 Good location Lots of space Tony Chen 128 Prinsep Street #01-01 S188655 Community driven environment. Grace Sai, Gouri Mirpuri 71 Ayer Rajah Crescent, #02-18, S139951 Suitable for tech startups 24-hour access NUS Enterprise Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  21. 21. Co-Working Spaces 21 Company Address Features Founder 71 Ayer Rajah Crescent, #05-16, S139951 Inhouse cafe with social and networking events Hugh Mason Meng Wong 62 Ubi Rd 1, Oxley Bizhub 2, #10-08, S408734 Suitable for artists Sheau Chan, Erika Tsirtsakis 2 Veerasamy Rd, S207305 Suitable for entrepreneurs Internal community forum Ben Gattie,Y.C. Teo, Saranta Gattie 70A Bussorah Street, S199483 Suitable for tech startups Chua Ruiwen, Wong Meng Weng, Luther Goh, and Justin Lee. 3 Raffles Place, Bharat Building, #07- 01, S048617 8 Marina View, Asia Square Tower 1, #07-04, S018960 137 Market Street, Levels 5, 6 and 15, S 048943 For the frequent traveler Offices in 3000 locations across 120 countries Douglas Sutherland Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  22. 22. Co-Working Spaces 22 Company Address Features Founder 883 North Bridge Rd, S198784 Swim and gym facilities 16 Purvis St, S188595 Suitable for professional companies Markus Kaub 115 King George’s Avenue, S208561 Suitable for woodcrafters Bu Shukun 1A Keong Saik Rd, S089109 Great for Entrepreneurs Ben Gattie,Y.C. Teo, Saranta Gattie Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  23. 23. Women Networks 23Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  24. 24. Media Bernard Leong Analyse Asia Jacquelyn Cheok Business Times Joji Thomas Philip DealStreetAsia Benjamin Cher Digital News Asia Andrew Roth Digital Frontiers Iris Leung e27 Jon Russell TechCrunch Terence Lee Tech In Asia Debbie Lee Tech Storm Grace Chng The Straits Times Jacky Yap Vulcan Post Newley Purnell Wall Street Journal Eileen Yu Independent Micheal Montgomery Venture Beat 24 Janine Stein ContentAsia Jiezhen Wu The Hidden Good Li Lin Wong 2 Minutes Today Jackie Yeo Lady Boss *Alphabetical order by first name Karishma Vaswani BBC Amrita Kaur Tabla Victoria Ho Mashable
  25. 25. Professional services & accounting Caroline Baker OrangeField Namita Sethi Future Books Mag Kwan SKI Management Vincent Lim Prudential Assurance Juanita Sabapathy Kolibri Sze Ying Pro 1 Management Consultants 25 *Alphabetical order by first name Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  26. 26. Legal Teresa O’Connor Infinitus Terk Yang Lee Flint & Battery Stefanie Yuen Thio TSMP Law See Kiat Toh Goodwins Karen Ng Dragon Law Lee Bagshaw Simmonds Stewart Koh Chia Ling Bird & Bird 26 *Alphabetical order by first name Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com Hooi Yen Chin Polaris Law Corp
  27. 27. Coaching and Training 27 Grace Clapham The Change School Sidhi Dihir TiE Singapore Aziza Sheerin General Assembly Fazil Musa Extraordinary Women of Today Yasmine Khater Transpiral Ayla Kremb Coach Angela Ognev Redesign Happy Christina Andersson Hyper Island *Alphabetical order by first name Sue Adams Bamboo. Coach/facilitator, Leadership development
  28. 28. Leading minds & enablers across the tech ecosystem Aliza Knox Twitter 28 Joanna Catalano Google Lena Goh IDA Singapore *Alphabetical order by first name Minister Grace Fu MCCY Dr. Helmut Schutte Insead Dr. Meri Rosich Female Founders Samridhi Singh Endeavour Kashmira Chawak Female Founders Lorena Sanchos Female Founders Dr. Supriti B Female Founders Katarina Hasbani Female Founders Sonya Madeira Rice Communications Waki Yeneoka MeMom Ayeesha Khanna The Keys Academy Kristine Lauria Walkabout Singapore Anne Salado AWS Doina Palici AXA Insurance Nadine Yap Temasys Krystal Choo Wander Phalgun Raju Morph Ventures
  29. 29. Infocus: Mouna Auri; Woomentum A civil engineer’s startup is building bridges for women entrepreneurs in Asia. Mouna Auri’s crowdsourcing platform, Woomentum, offers the space where women entrepreneurs share their challenge, give support, receive support, inspire each other and solve each other’s problems. Woomentum combines crowdsourcing + Human to Human Power + the Her to Her effect. Think of Woomentum as a place where you can ask a question and get an answer by female experts out there. A platform that makes expertise affordable, showcase the best of female entrepreneurs and taps into the deep knowledge of experts in a host of different fields. 29
  30. 30. Incubators 30 Elaine Kim Crib Hugh Mason JFDI Lily Chan NUS Enterprise Dr Lim Jui NTU Innovation Dr Francis Yeoh Mediaprenuer Chua Boon Ping SPH Media Fund Joseph Zeigler Muru-D Grace Sai PACT Incubator
  31. 31. Co-Founders Dr. Meri Rosich Roshni Mahtani Singapore Executive Committee Advocacy - Joanna Catalano Membership - Kashmira Chawak Policy - Katarina Uherova Hasbani Public relations - Sonya Madeira Publications - Dr. Supriti Bezbaruah Research - Waki Yoneoka Special Projects - Lorena Espi Sancho Published by Female Founders on: November 26th 2015 Updated May 30th 2016 Locations SINGAPORE TOKYO SAN FRANCISCO SYDNEY www.femalefounders.com We are an independent non-profit, non-governmental organization dedicated to supporting gender equality in entrepreneurship and leadership through research, policy and advocacy action. We aim to help accelerate the female founders ecosystem in Singapore by increasing from 5% to 20% the female funded startups by 2020. We would like to thank our contributors: Arnaud Bonzom, Darius Cheung, Florian Cornu 31Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
  32. 32. For more information visit: www.femalefounders.com 32Singapore’s Female Entrepreneurs Ecosystem Overview - Research - Policy - Advocacy - November 26th, 2015 - www.femalefounders.com
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The Female Founder’s ecosystem overview offers insights into the entrepreneurs, investors, networks, and coworking spaces of the entrepreneurship and intrapreneurship decision-makers in Singapore. This research-driven document aims at: Understanding the changing ecosystem of the female entrepreneurship and intrapreneurship in Singapore. Identify and improve visibility of female entrepreneurs and the supporting ecosystem in Singapore with media, VCs in order to increase gender equality. Plan effective policy and advocacy programs to engage the ecosystem against unconscious gender bias.

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