In Singapore, ACE finalizing new measures to promote entrepreneurship in schools

The Action Community for Entrepreneurship (ACE) is working with the Ministry of Education on a new program to develop entrepreneurs in schools, said Teo Ser Luck, Singapore’s Minister-of-State for the Ministry of Trade and Industry (MTI).

He spoke to SGE yesterday while making his first visit to Block 71,  a business cluster for tech startups. The companies he visited were: Burpple, Paywhere, Stream Media, and Zimplistic. Mr Teo is the chairman of ACE, a private-public sector collaboration that promotes entrepreneurship.

Currently under deliberation, the new measures will be implemented across all the entire spectrum, including secondary schools, ITEs, and polytechnics. 

“[We’re] looking at some of the things that are taught in schools in terms of entrepreneurship and how we can inculcate the spirit of trying,” he said.

Mr Teo added that each type of educational institution will require a different approach. An announcement will be made at a later date, since the details are still being ironed out.

Stamping out the fear of failure is also high on ACE’s priority. To that end, Mr Teo is looking at possible ways that the ACE Startups Grant can promote a culture of embracing failure.

When SGE asked if ACE will consider letting entrepreneurs that have failed before apply for the grant (only first-time entrepreneurs can apply for now), he remained non-committal.

Nonetheless, the requirement could be reconsidered as part of the review for the grant’s second phase.