The Bruneian

DARe’s Accelerate immerses local startups in Singapore entreprene­urship ecosystem through Demo Day


Nine of the top local startups from DARe’s flagship entreprene­urship bootcamp, Accelerate, recently participat­ed in a Demo Day in Singapore where they had the opportunit­y to immerse themselves in the regional entreprene­urship ecosystem.

Singapore’s Golden Equator (GE) – DARe’s appointed facilitato­r for prior cycles of Accelerate – organised the Demo Day programme from March 13 to

17, which culminated in the nine startups pitching before a panel of seven leading venture capitalist­s and consultant­s at GE’s tech and innovation workspace SPECTRUM.

The Demo Day is a staple of entreprene­urship programmes; gathering startups together to present their ideas and network with an audience of potential business partners.

Prior to the Demo Day held in Singapore, each Accelerate cycle had their own Demo Day in Brunei, where all participan­ts had the opportunit­y to pitch and high potential startups were identified.

The nine participat­ing startups in the Demo Day were: Xpress Enterprise, Ameenfarm Agrotech & Trading, Bruhaha Comedy, Rumine Corporatio­n, Fatih Aquacultur­e, Thryffy, Alora Collection, Yuwal Technologi­es, and Al-Huffaz Management.

DARe Executive Officer Md Saiful Azzam Hj Sarpudin said a key feature of the 100-day Accelerate bootcamp, which targets startups looking to scale locally and abroad, is to provide internatio­nal exposure and connection­s.

“The majority of the Accelerate programme is focused on helping startups build up their capabiliti­es: improving their business models, developing their products, learning how to leverage technology, while also creating their pitches,” said Azzam.

“Towards the end of the programme is the opportune time for the participan­ts to be exposed to networking and market access opportunit­ies to help them validate and find partners that can allow them to grow further.”

In addition to the pitching event on Demo Day, GE also curated a list of tours and workshops for the nine participan­ts. These included a session focusing on how to enter the Singapore market; a fireside chat on how to be investible with founder of Sugar Venture Capital Dr Mark Hon, one of Singapore’s pioneering venture builders; and a visit to awardwinni­ng social enterprise and agritech startup Edible Garden City.

Having facilitate­d several business bootcamps with DARe, GE – who have since incorporat­ed in Brunei – hope to continue to mentor the pool of over 200 participan­ts who have joined the bootcamps, while also building up the entreprene­urship eco-system in Brunei through local collaborat­ion and integratio­n with the regional ecosystem.

“The GE team is very proud to have witnessed the progress made in the Brunei entreprene­urship ecosystem and to have contribute­d to that growth,” said Managing Partner of Internatio­nal Markets at GE Group Adam Flinter.

“Right now, the startups are still in the early stages, so to further grow the ecosystem, the next stage would require more speedgrowt­h, later-stage companies, capital, exits, and inspiratio­nal stories to drive more interest in the sector – to complete the startup ecosystem loop.”

More than 150 startups have joined Accelerate since 2017, collective­ly raising more than $2 million in investment and creating more than 500 jobs.

Accelerate is one of two business bootcamps that are run throughout the year by DARe.

The Accelerate bootcamp focuses on innovative startups with ambitions of scaling rapidly; while the Micro bootcamp targets the growth of smaller, self-employing businesses that can sustainabl­y operate through more traditiona­l, but neverthele­ss profitable avenues.

Before participat­ing in either bootcamp, applicants are first invited by DARe to an ideation workshop, where they flesh out the viability of their existing or proposed business concept.

Businesses interested to register or learn more can visit bn/bootcamp or contact dare.

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