Pre-accelerator programme DBS Hotspot@BASH launches

DBS logo

DBS Bank launched a new pre-accelerator programme called DBS Hotspot based at Black 79 (BASH), in the city-state’s startup venture cluster in Ayer Rajah. As part of the launch, it unveiled 11 Singaporean startup ventures selected for its pre-accelerator programme on Monday.

DBS Hotspot is a pre-accelerator run by DBS in which 11 teams of tech start-ups, social enterprise start-ups and DBS intrapreneurs undergo intensive training and mentorship at BASH.

According to its website, the DBS HotSpot Pre-Accelerator operates a 9-week programme that focuses on fintech, social enterprise, DBS intrapreneurs, digital startups and ventures developing a business model. This is done with the aim of providing a platform and environment where the difference founders can work collaboratively.

Some of the startups include Bamboobike, a social enterprise founded by former DBS banker Kevin Kwa and co-founder Claudia Cheng aimed at reducing poverty in rural Vietnam through the sale of handcrafted bamboo bicycle frames; Nickel, a mobile app to help migrant workers sent money home via the block chain; and Inderra platform that matches startups to angel investors.

Also Read: Startup funding: VC firms vs hedge funds

A digital media startup venture participating in the programme is Crux, a digital news media application focusing on Asian current affairs for a global readership that analyses how readers around the world engage with news and targeted at providing data to publishers and thought leaders, co-founded by Goh Chien Yen and Julian Peh.

As part of the pre-acceleration phase, each startup receives S$25,000 in seed capital, working space at Block 79 and coaching from industry mentors. The end of the three-month programme sees the startup founders pitch their concepts to a panel of angel and impact investors, venture capital firms and accelerators.

Commenting on DBS Hotspot, Neal Cross, chief innovation officer of DBS said: “DBS Hotspot is about helping Singaporean start-ups. We are taking great home-grown ideas and helping the teams develop those ideas into enterprises.”

Cross added, “As a bank we’re providing funding, free space and access to some of the best mentors in Asia. The only condition is that they take the opportunity we provide them and make the most of it. We’re looking forward to working with each of the eleven teams over the three months.”

Related Stories: 

uilding engines of innovation within DBS:Neal Cross

Blockchain, Wealth Management the future of FinTech: Startupbootcamp

Cryptocurrency and fintech integral to the human economic condition: Jarrod Luo

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.