4 JULY 2012

MEDIA RELEASE: NR/18/2012

 

ACE- TSINGHUA COLLABORATION

TO SUPPORT CHINA- BOUND SINGAPORE ENTREPRENEURS  

 

1. Singapore’s  Action Community for Entrepreneurship Overseas Chapter in Beijing (ACE Beijing Chapter) is collaborating with Houde Capital Co Ltd (HDC), a member company under Tsinghua University, and Coway International TechTrans Co Ltd (Coway), its technology partner, to provide China- bound Singapore entrepreneurs better access to resources and opportunities in Beijing and China.

 

2.  HDC operates from the Tsinghua University Science Park (TUSPark) and invests in innovative technology companies. Coway manages Tsinghua University’s International Technology Transfer Centre and commercialises the University’s technologies.  It also provides technology incubation and assistance to overseas enterprises intending to develop their business in China markets. 

 

3.  Mr James Tan, the Chairman of ACE Beijing Chapter, signed Letters of Intent today with the Managing Director of HDC, Mr Du Peng, and the Director President of Coway, Dr Tan Hongxin. Singapore’s Minister for Education Mr Heng Swee Keat graced the occasion as Guest-of-Honour. Accompanying him was Singapore Minister of State for Trade and Industry and ACE Chairman, Mr Teo Ser Luck. The signing ceremony was attended by representatives from ACE, Tsinghua University, HDC and Coway, as well as the China and Singapore business communities.

 

4.  Mr Teo said, “This is the first time that ACE has established such collaborations and it is another milestone since we set up the Beijing Chapter, the first of ACE’s Overseas Chapters. We are very honoured to have the strong support of Tsinghua University, which is dedicated to innovation and entrepreneurship. With the assistance from HDC and Coway to mentor and guide our startups, I believe they will get a head start in the China markets. This is the first step towards greater collaboration and there will be opportunities for closer partnerships to be forged between the Chinese and Singapore communities in entrepreneurship.”

 

5.  Mr Tan, “China is a fast-growing market and there are many opportunities for collaborations. However, the business practices and environment are different from Singapore. Hence, the best way to help entrepreneurs get a foothold in an overseas market is by leveraging resources and connections already on the ground, and this collaboration facilitates that.”

 

6.  Mr Tan and Dr Steven Fang, who is ACE Deputy Chairman and Chairman of its Mentoring Sub-Committee, are both Tsinghua University alumni. They were instrumental in getting the support of Tsinghua University and establishing the collaborations with HDC and Coway. Dr Fang is Founder and Group CEO of listed company Cordlife Limited. Mr Tan is the co-founder of one of China’s largest group-buying sites, 55tuan.com, which has a presence in more than 100 Chinese cities. He is also the Managing Partner of QuestVC, a venture capital firm which invests in startups.

 

 

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