Singapore’s top startups may not exist without this program

Dear readers,

Without the NUS Overseas Colleges (NOC) program, many of Singapore’s startups would not exist today.

That’s what I was told after I asked on social media how the country’s startup scene would be different if the program wasn’t created.

“It’s a forge where the fires make the steel harder,” one person said.

Last week, we published this visualization that mapped out the sprawling NOC alumni. It’s an impressive group that’s responsible for two unicorns and a clutch of “soonicons.” We also interviewed some alumni members to find out why this program was so formative.

Given the size of the NOC network, it’s impossible to put everyone on the chart, which is why we focused on founders.

But the impact of the network extends beyond this select group, which one alumni likens to the flowers on a tree. Entrepreneurs are supported by the branches, stem, and roots. They need believers and lieutenants to execute their vision, as well as investors to enable them. NOC spread the startup bug, and while most of the program’s members didn’t become founders, they can play other important roles.

One NOC alum we covered last week was Kelly Choo, who is part of a unique venture capital fund that has over 40 partners located across the world. It already has one unicorn in its portfolio – blockchain gaming platform Animoca.

We’ve also spotlighted 99 Group and MoneySmart’s financial numbers – both companies were established by NOC folks.

Another mafia network

Moving on, we looked at NextBillion.ai, a startup that’s looking to dethrone Google Maps in the enterprise space.

The company was founded by ex-Grab employees who discovered how difficult it was to get accurate maps of Southeast Asian cities during their stint at the company. They’re part of a growing network of founders hailing from the regional tech giant.

Workers demand better wages

Switching gears, we looked at a couple of flash points in the region, including how Shopee’s logistics arm has hit a speed bump as some workers lamented their low wages.

It’s not the first time that we’ve written stories about how ground staff are demanding better working conditions from tech platforms. This serves as a reminder that even as the industry grows, we should aim for equitable prosperity.

We don’t abandon past content