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Ministry of Culture, Community & Youth
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Developing young entrepreneurs

Sectors

Youth

14 June 2017

Speech by Ms Sim Ann, Senior Minister of State for Ministry of Culture, Community and Youth & Ministry of Trade and Industry, at the nEbO Youth Entrepreneurship Symposium 2017

Mr Yeo Khee Leng, CEO of NTUC Club

Mr Lim Eng Lee, Alignment Director (nEbO), NTUC

Entrepreneurs and youth participants,

  1. Good morning. I'm happy to join you at the 10th edition of the nEbO (pronouncednee-bo) Youth Entrepreneurship Symposium.

An entrepreneurial mindset is necessary for the world today

  1. The theme for this year's symposium – 'Entrepreneurship as a Career' – is timely. We are facing challenges brought about by globalisation and technological advancements, and these are disrupting industries and displacing workers all over the world. In these times, it is crucial to have an entrepreneurial mindset, whether you are starting out as your own boss or as an employee. With this mindset, you will be able to see and seize opportunities, adapt to new challenges; and learn from mistakes. In short, beyond talent and skills, you must have grit.

Entrepreneurship may be difficult, but it is rewarding

  1. The life of an entrepreneur is not easy, but it can be immensely rewarding as you are responsible for charting your own journey. Through this experience, you will also gain resourcefulness, resilience and innovation - values that will stand you in good stead for the future. Take Jian Rong, one of the youth committee members for Y.E.S. 2015. He first started out at 16, and struggled to manage his school, startup and family commitments. But he persevered, and co-founded Codesurance to connect startups and SMEs with third-party developers. Jian Rong is now heavily involved in the startup scene.

The Government is keen to support youth entrepreneurship

  1. I'm heartened to know that nEbO is educating youths on entrepreneurship. You can also tap on the resources offered by your schools to learn more about being an entrepreneur.

  2. The Government remains supportive of entrepreneurs at different stages of their journey in different ways. Announced in this year's Budget, Startup SG brings together the support schemes available for start-ups under a common brand to help them identify what is suitable for their needs. First-time entrepreneurs can receive funding support through the Startup SG Founder grant scheme offered by SPRING Singapore. It also pairs these entrepreneurs with Accredited Mentor Partners from the private sector.  

  3.  The National Youth Council also provides funding for youth projects through the National Youth Fund and the Young Changemakers Grant. If you have innovative ideas to serve your community through enterprise, do consider applying for funding to get your ideas off the ground.

  4.  As your business grows, you may need a space to work or need advice on managing your enterprise. HubQuarters at *SCAPE provides a co-working space for youths to meet and collaborate with like-minded peers. *SCAPE also hosts boot camps where youths like yourself can test your ideas, receive coaching, and pitch for funds.

Conclusion

  1. Over the next three days, you will have the opportunity to deepen your learning through panel dialogues, group discussions, and mentorship meetings. I strongly encourage you to ask questions, participate actively, and learn all that you can – from the industry leaders, and from one another too. I look forward to hearing about collaborations that have risen out of Y.E.S., I'm sure that YES 2017 will generate many very interesting success stories and also very relevant and very exciting products for the future. Thank you. 

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