Refreshed co-working space for young entrepreneurs

Good morning, Ladies and Gentlemen,

Introduction

1. I am delighted to be here today for the opening of the refreshed HubQuarters. This is a space that fosters innovation and supports the entrepreneurial aspirations of our youths. I am especially glad to see friends and colleagues from different industries, communities and schools. Your presence and participation in HubQuarters contributes towards what we hope for *SCAPE to be – a place where youths can come together to pursue their aspirations with the support of our partners and stakeholders, and to build strong friendships that will last a lifetime.

Developing a spirit of entrepreneurship in youth

2. Much has been said about globalisation, technological advancements and the impact they have on jobs and the economy. To survive and thrive in these changing times, our youths need to keep abreast of global trends, seize opportunities, to be bold and enterprising to capitalise on them. I am encouraged that more of our youths are venturing into entrepreneurship; and also coming up with new ideas, new products, new services that will benefit society and solve many of the problems that we see around us. They are learning through experimenting with ideas, sometimes seeing them fail, but then coming up with new and better ideas. They are learning how to turn workable ideas into concrete projects, and in doing so, learning what it takes to run a successful start-up, such as building networks of partners and building their own teams. They are pursuing their passion, and at the same time, becoming enterprising, adaptable and resilient youths.

3. Since its inception in 2012, HubQuarters has been supporting youths' entrepreneurship aspirations. *SCAPE has partnered with organisations such as NTU Ideas Inc., DBS and General Assembly to run workshops to teach our young entrepreneurs important skills. In February 2017, *SCAPE started the #SOIMPACT Bootcamp to support aspiring social change-makers to kick-start their projects. The programme has since supported 44 youth initiatives and startups, with more than $100,000 funding raised through the bootcamp's crowdfunding platform, Give.asia.

4. One example of such an initiative is Our Chicken Story, an organisation that feeds the poor in an empowering way by setting up sustainable chicken and vegetable farms. It started when its founder, Caleb Giam, visited Cambodia and saw many malnourished villagers who had never eaten chicken or eggs. Thus, he decided to build a farm and buy 40 chickens for the village, so that they would have a sustainable way of producing food, and this later developed into Our Chicken Story. With this idea in mind, they joined the second run of #SOIMPACT Bootcamp and managed to raise $40,000 from their initial target of $3,000.

*SCAPE supports youth in their entrepreneurial aspirations

5. With a refreshed HubQuarters, *SCAPE is now able to serve more budding youth entrepreneurs. In the second half of the year, *SCAPE will be partnering Reactor to launch the HubQuarters Fellowship Programme, a six-month long bootcamp for 30 selected teams. The bootcamp will equip participants with the necessary skillsets, tools, and frameworks to create their own start-ups. I encourage our youth to make the most of these resources and opportunities, and put your ideas to the test.

Conclusion

6. Once again, let me congratulate *SCAPE on the opening of the refreshed HubQuarters. To our partners, you have played an important role in building up the entrepreneurship eco-system for our youth, through your mentorship and advice. Thank you for all your efforts and support for the youth.

7. To the youth, I commend you for your boldness in wanting to break new ground, and I wish you all the best in your entrepreneurship journey. I look forward to seeing how the refreshed HubQuarters will further enrich the youth entrepreneurship landscape in Singapore.

8. Thank you.