Here’s what students think of top Singapore universities’ entrepreneurship programs

Student entrepreneurship might have been a new thing in Singapore five years ago, but it definitely isn’t anymore. In fact, universities in the island-state have taken up active roles in encouraging campus-based startups. But the question is, to what effect? It’s best to ask those from local universities to find out more on the support, infrastructure, and ecosystems they have built. A recent article also evaluated the Singapore startup scene, though it was more focused on incubation programs. This article, on the other hand, will look at the “heart-ware” of the industry as well.

I spoke to four student entrepreneurs, each from Singapore’s four universities—NUS, NTU, SUTD, and SMU. For logistical reasons and to keep this article at a reasonable length, I am planning on writing a part two that looks at SIM (which just launched a US$35 million program) and SIT (Singapore’s most tech/STEM-focused university). Please reach out if you know anyone I could speak with.

Photo credit: itons / 123RF Stock Photo.

National University of Singapore

Many regard the National University of Singapore (NUS) as the unopposed “market leader” in this aspect. Its most prominent flagship is the NUS Overseas Colleges (NOC) program, which has gained immense traction among applicants and even those overseas. In building an environment, NUS Enterprise appears successful too—Blk71 and Hangar probably sublet more floor space than some smaller commercial spaces. Such offices gather entrepreneurs while giving them a fuss-free workspace—the first step in tapping the network effect.

According to one school of thought, going to university means meeting people and doing things together, using the knowledge one has gained in class. The founders of Novelsys began their startup this way.

I spoke to Delane Foo, one of the startup’s co-founders, who searches for events, grants, and programs for aspiring young minds to tap and foster the spirit of innovation.

Mentorship

According to Delane, some competitions and hackathons at NUS offer good mentorship and lucrative incubation programs, but only if student teams incorporate a company and show commitment to put their plans into action. In return, the incubation system provides experienced mentors—with different maturities—and many resources. This system had helped her team get on track initially, but looking back she thought that a mix of mentors would have been good:

• The mentors the programs provided were successful and further downstream, but in a relevant industry.
• Novelsys dealt with hardware, a vertical without many experienced mentors (more so in Southeast Asia). Campus incubators can thus suggest other channels where student entrepreneurs can get the necessary support and community they need to move forward.

Funding

Ah, the age-old discussion on money. NUS, by some measures, is one of the universities in Singapore that offers the most grants. A few that are larger in ticket are the PY Innovation Fellowship and the Innovation and Entrepreneurship Practicum Award. NUS also works closely with VCs such as Accel-X, which has invested in a number of NUS startups.

Resource-wise, Novelsys’ experience with NUS Enterprise was fuss-free. It got them office space, subsidized services, and connected them with a tightly knit community. There also wasn’t a lot of red tape.

With Novelsys now closed, Delane is into her final year studying Industrial Design. However, she sees a fundamental challenge with the campus’ perceptions toward entrepreneurs. She observes that failure doesn’t bode well for students and that the topic is mostly avoided, often by pre-entrepreneurship students. Now, her mission is to make people more aware about entrepreneurship stories and create more conversations about failure.

She made this statement, one I agree with: “With the world moving at breakneck speed, building a culture of open reflection and learning from mistakes has become more important.”

Nanyang Technological University

Singapore Management University

Singapore University of Technology and Design