Singapore Digest: JustCo, TRIVE launch joint incubator; Found, Collision8 merge

Singapore-based venture capital TRIVE Ventures and co-working space operator JustCo have launched a startup incubation programme while two of Singapore’s co-working spaces, Found and Collision8, have announced a merger that will lead to rebranding of the combined entity as Found8.

JustCo Lab partners TRIVE to launch first incubator programme

Singapore-based venture capital TRIVE Ventures and co-working space operator JustCo have launched a startup incubation programme, TRIVE Labs, that features a nine-month project runway targeting early-stage startups.

Startups in this programme can gain immediate access to JustCo’s regional community of more than 17,000 members, comprising of fellow startups, small and medium enterprises to Fortune 500 companies.

TRIVE Labs is designed for entrepreneurs who have successfully attained the Startup SG Founders Grant with TRIVE as an Accredited Mentor Partner (AMP) or have attained external funding of exceeding S$20,000. The startups must also have a defensible tech slant and a positive outlook for regional expansion.

In addition, JustCo has also launched an app that will serve as a platform to facilitate collaborations across its regional community. Founded in 2011, JustCo is one of Asia’s leading premium flexible workspace providers. It opened its first co-working center outside of Singapore in Thailand in 2018 with plans to add offices in Jakarta and Shanghai by the end of the year, towards a goal of 50 centers in Asia by 2019, each with minimum space of 3,000 sq m.

Co-working space operators Found, Collision8 merge

Two of Singapore’s co-working spaces, Found (previously known Impact Hub Singapore) and Collision8, have announced a merger that will rebrand the combined entity as Found8, according to an announcement.

The merger brings together S$20 million ($14.7 million) of growth investment, five locations covering over 74,000 sq ft in Singapore, and another 22,000 sq ft of space to be opened in Kuala Lumpur, Malaysia. The expansion has garnered investment support from Kejora Investments and Malaysian Resources Corp Bhd.

Grace Sai and Michelle Yong, who founded Found and Collision 8 respectively, are now co-CEOs of Found8.

“Found8 signifies the strengthening of our commitment to build supportive environments that create change, advance communities and accelerate growth,” it stated.

Found8 will also continue to grow its corporate innovation arm, which helps large businesses develop new revenue drivers and internal transformation through collaborations with startups.

Last year, co-working space operator Impact Hub Singapore rebranded as Found.

Found said that the rebranding concludes the company’s tenure with the global Impact Hub network, and marks its next steps in establishing itself as an independent, home-grown and South-east Asian brand.

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