Singapore, 16 September 2020: Following the successful completion of their inaugural cohort, EduSpaze, Singapore’s first edtech accelerator managed by seed capital firm and startup incubator Spaze Ventures and supported by Enterprise Singapore, the enterprise development agency, has opened applications for its second cohort following the graduation of its first cohort. With this accelerator programme, EduSpaze invites seed-stage edtech startups based in Singapore and overseas to apply for their 100-day accelerator programme that begins in January 2021.
In line with their mission to nurture a vibrant edtech startup ecosystem in Singapore and across the APAC region, EduSpaze seeks to provide edtech startups with training, mentorship and overseas network to enable them to grow and scale their business; along with an investment of up to S$500,000.
Alex Ng, Managing Director at Spaze Ventures, said, “With the success of our first cohort and the evolving education landscape, the need for innovation in education has never been so evident. With the EduSpaze Accelerator we have created a platform for growth, innovation, and a strong network of education partners to nurture the future of the education industry. We look forward to helping the next generation of edtech entrepreneurs in the region reach their true potential.”
Making the programme accessible for all amidst the pandemic and changing landscape
According to a report, global edtech revenues are expected to grow to over US$40.9 billion at a CAGR of 18.3% by 2022, and more than half of the global market demand comes from the APAC region. ASEAN ‘s population is now over 620 million people, which is nearly 10% of the world’s population, with 210 million under the age of 30; and in the past five years edtech startups in the region have seen a VC investment of around US$480 million.
With the current economic climate and the scope of growth in this sector, the EduSpaze accelerator programme comes at the right time bringing an opportunity for founders to get access to mentorship and training from industry leaders as well as funding for the growth of their startups.
To make things easily accessible for local and global companies alike amidst the ongoing pandemic and travel restrictions, EduSpaze has taken the entire programme online for cohort 2.
This means that participating companies are not required to be physically present in Singapore as long as they are willing to commit 8-10 hours per week for online training and mentoring sessions. This ensures the safety of the team and all participants, without restricting which markets can benefit from the EduSpaze programme. However, it is mandatory for founders and management team members to participate in at least 75% of the programme.
“The lessons learned from successfully running part of our accelerator programme online this year will come in handy in ensuring the best experience for our second cohort. We were able to successfully mentor and help nurture a real high-quality environment for our startups online and we will ensure that each participant comes out of the programme prepared for the challenges of the education industry,” said Niko Lindholm, Programme Director at EduSpaze and former Director of the xEdu edtech accelerator in Helsinki, Finland.
Helping regional and global startups establish themselves in the booming APAC region
Focusing on key topics, including education, impact, business development, funding and pitching over a period of three and a half months, the accelerator programme nurtures startups for growth across the APAC region.
Jamie Tan, Founder of Flying Cape said, “Being part of the EduSpaze Accelerator programme was definitely a huge help to our journey as a startup. During the programme, we were able to leverage on EduSpaze’s ecosystem and mentorship to not only form new alliances and strategic partnerships but to also solidify our expansion plans in Asia.”
In addition to providing access to industry leaders, investors and mentors, the programme also helps regional and global startups interested in incorporating in Singapore. Singapore has been consistently ranked in the top by the World Bank for ease of doing business, and backed by Enterprise Singapore, the accelerator programme is able to bring in relevant support when necessary. With an incorporation in Singapore, startups focused on growing across the region can have easier access to business scalability.
How to apply
Startups in the seed stage with some traction and sales revenue and a keen interest in growing in the APAC region, can apply online at www.eduspaze.com/apply.