Up to nine winners of business competition will secure internships with leading innovation companies in China
Singapore, 18 September 2017 – Singapore’s undergraduates can look forward to a unique entrepreneurship initiative, the Singapore Valley Awards (“SVA”), which was launched today. The prize: a rare chance for internships with leading innovation companies in China. The internships will give the winners first-hand access to China’s start-up ecosystem and the opportunity to learn from the founders of these companies.
Full-time third- or fourth-year Singaporean or Singapore Permanent Resident undergraduates studying in the six Autonomous Universities are eligible to apply for the award. Shortlisted students will then need to pitch business ideas to a panel of 10 judges, from a wide range of backgrounds, to secure the award. The panel comprises:
- Mr. Pang Sheng Dong, SVA Co-Chair & Founder, 2345.com;
- Mr. Eddie Wu, Managing Director, Alibaba Singapore;
- Mr. James Sheng, General Manager, Alibaba Singapore;
- Mr. Wang Yue, Founder and CEO, Shanghai Kingnet Technology;
- Mr. Zhuang Chenchao, Founder, Qunar;
- Mr. Tan Yinglan, CEO & Managing Partner, Insignia Venture Partners;
- Mr. Andy Lim, Chairman (Founder), Tembusu Partners;
- Mr. David Su, Founding Managing Partner, Matrix Partners China;
- Ms. Jenny Lee, Managing Partner, GGV Capital; and
- Mr. Calvin Cheng, Chairman, Retech Technology.
The SVA is seeded by S$3.35 million in funding from five entrepreneurs – Mr. Pang Shengdong, Mr. Eddie Wu, Mr. James Sheng, Mr. Wang Yue, and Mr. Calvin Cheng – and supported by local private equity firm Tembusu Partners.
In the first edition of the annual Awards, up to nine winners will secure three-month internships in China, starting from 2018, with Chinese internet giants such as e-commerce platform Alibaba Group, internet portal 2345.com, as well as venture capital firms GGV Capital and Matrix Partners. Awardees will also receive S$2,000 per month during the internship period.
“The Singapore Valley Awards initiative has twin objectives – to broaden the mindset of innovation beyond employment to include entrepreneurship, and beyond the traditional Western models of disruption to include China. The internships will provide students with first-hand exposure to and a better understanding of the factors driving China’s successful technology companies,” said Mrs. Lim Hwee Hua, Co-Chair of SVA and Executive Director of Tembusu Partners.
“In an age of disruption and rapid growth of Chinese internet businesses, the Singapore Valley Awards has been conceived to promote innovation and also raise understanding of and links with China’s IT giants. As an entrepreneur myself, this initiative is a means of giving back to the industry that has taught me so much,” said Mr. Pang Shengdong.
The launch was attended by students from the six participating universities – National University of Singapore; Nanyang Technological University; Singapore Management University; Singapore University of Social Sciences; Singapore University of Technology and Design; and Singapore Institute of Technology.
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Media Contact:
WeR1 Consultants Pte Ltd
Contact: Ian Lau
Tel: +65 6737 4844
Email: ianlau@wer1.net
SVA Contact:
Tembusu Partners Pte Ltd
Tel: +65 3152 5500
Email: sva@tembusupartners.com
About Singapore Valley Awards
The Singapore Valley Awards (“SVA”) is an annual entrepreneurship award that offers students, with the most compelling business ideas, a fully-sponsored internship in China for the acquisition of a deeper knowledge of the China market and entrepreneurship in practice. First conceived in early 2017 by a group of entrepreneurs with China-centric businesses and supported by Singapore-based private equity firm Tembusu Partners, SVA aims to promote innovation and entrepreneurship among undergraduates in Singapore.
For more information, please visit: www.singaporevalleyawards.com
About Tembusu Partners Pte Ltd
Tembusu Partners is a private equity investment firm that invests in promising early and growth-stage companies with a view to generate optimal returns for both investee companies and investors. Besides supporting its investee companies through mezzanine and equity financing, it also lends operational expertise to help them grow. Headquartered in Singapore, its primary geographical markets are within Emerging Asia – comprising China, India and Southeast Asia.
For more information, please visit: www.tembusupartners.com