Eugene Tay, President, Sharing Economy Association

This June 11, 10 individuals from six Singapore-based companies are coming together to launch a concept that has been brewing for the last two years — the Sharing Economy Association (Singapore).

“Two years ago, there weren’t as many (companies dealing with the sharing economy),” said Fenni Wang, Co-founder, Rent Tycoons. Her startup is one of the six, alongside iCarsClub, PandaBed, BlockPooling, Leendy and Waste Is Not Waste.

According to the group, a sharing economy “refers to an emerging economic model of sharing of physical and non-physical resources that is empowered by technology, peer-to-peer and social networks.” In addition, ‘sharing’ includes the act of renting, swapping, lending and gifting.

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Eugene Tay, President, Sharing Economy Association (Singapore), told e27 that the main aim of forming such a society is to spread awareness about ‘sharing’, and to provide members within the group with more reach and partnership opportunities. In the future, there will be public talks scheduled with schools and other organisations.

The move from selling and buying to renting and swapping has been swift, yet noticeable. Lately, there have been more of such peer-to-peer services internationally and locally. In the US, there are startups like AirBnB, an accommodation rental site; Lyft, a ride-sharing app; and even Tinder, which has users sharing meal coupons. In Singapore, we have Sharing Economy Association, and companies like Roomorama, a short-term accommodation rental marketplace, and Giift, which allows trading of membership points.

For those who would like to join the group at their launch, please RSVP with Fenni at fenni[at]renttycoons[dot]com