The Hub Singapore unveiled its new co-working space today, which is situated in the heart of Singapore’s emerging design and creative neighbourhood at 128 Prinsep Street.
It will also have flexible event spaces that can hold up to 200 people, an in-house café, a communal pantry, hot showers and a nap room.
Startups such as popular news site Mashable, e-payment solutions provider Braintree_Paypal, Silicon Valley’s Unicorn Twilio, and local startups Gone Adventurin and Our Better World will take up residence in the new co-working space.
The Hub Singapore has an internal online portal to help members connect beyond the physical space. It is also the first co-working space community in Singapore to establish the option of a pure online membership which gives businesses who do not require a physical workspace the flexibility to collaborate and work with other members remotely.
Founded in 2012, The Hub Singapore has a community of 500 members hailing from a wide spectrum of industries such as e-commerce, creative, education from 200 ventures in mobile and consulting. According to its statistics, 45 per cent of its members already have a business up and running and 20 per cent are already scaling up in the region.
What’s new at The Hub
In addition to organising programmes and initiatives geared towards startups, The Hub is also introducing tailored innovation and impact lab programmes for corporations looking to innovate through collaborations. Companies currently involved in the programme include J.P. Morgan, DBS Bank and Procter & Gamble.
“This next phase will see us focussing more on collaborations across the ecosystem, especially with corporates who want to connect with startups, the government, venture capitalist, investors and media partners. We have by default stepped into the responsibility of being a network of networks, creating more visibility of different parties that could and should be working together, because there is always more innovation outside of one’s team than within,” Grace Sai, CEO and Co-founder of The Hub Singapore.
The Hub will be launching the Investor in Residence programme and The Hub Alumni Fund later this year. This allows businesses in its network to have the opportunity to be mentored by experienced fund managers while receiving adequate funding to bring their ideas to life.
Funded by angel investors and successful “Hubbers”, The Hub Alumni fund has raised SG$300,000 (estimated US$214,800) pledges to date and is expected to grow close to SG$1 million (estimated US$716,000) by year end.
In a dialogue session with Sai, K Shanmugam, Singapore’s Minister for Foreign Affairs and Law, who was a Guest of Honour at the launch, said “It (The Hub Singapore) will be a conducive and useful conduit for local startups to network as well as work with their international counterparts.”