Entrepreneur First (EF), a UK-based startup enabler, has announced that it will not run new programs in Singapore after its twelfth cohort graduates next year. Aside from the city-state, the firm will also cease to run operations in Toronto, Canada.
Entrepreneur First co-founders Alice Bentinck (left) and Matt Clifford / Photo credit: Entrepreneur First
In a statement, EF said that the move is part of its strategic decision to focus on a smaller number of hubs, where local talent pools allow the firm to run multiple vertical programs concurrently.
In the future, the startup enabler will focus on programs in Europe, North America, and India. In London, it has launched Web3 and climate-focused programs on top of its core cohort.
Singapore is the first hub that EF established outside its hometown of London.
It counts startups such as Transcelestial, Seppure, and Allozymes as part of its portfolio. EF’s Singapore companies have a total valuation of more than US$1 billion.
The startup enabler added that it will continue to support its Singapore portfolio through its global team and funding network.
See also: These are the most active investors in Singapore’s startups
Editing by Miguel Cordon and Lorenzo Kyle Subido
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