YCH’s Supply Chain Angels and KPMG Sign MoU to Build Logistics Startup Ecosystem
MOU part of YCH’s commitment to equipping local startups with tools to succeed, while nurturing a vibrant startup ecosystem in Singapore.
Singapore, 14 September 2016 – Supply Chain Angels (SCAngels), the venture arm of YCH Group, has signed a Memorandum of Understanding (MoU) with KPMG in Singapore’s Digital Village, a symbiotic ecosystem that matches, fosters and forges innovation ventures between companies and startups. Under the MoU, both companies will work together to build a robust startup ecosystem with strong networks so that startups will be equipped to succeed.
Both companies will collaborate on the following areas:
o SCAngels and KPMG Digital Village will support the growth of each other’s ecosystem through the collaboration of resources
o KPMG Digital Village will support SCAngels’ mentorship program through the provision of experienced mentors to catalyse the growth of start-ups in the program
o KPMG Digital Village and SCAngels will work together to solve industry problems, with SCAngels leveraging YCH’s industry knowledge and experience in supply chain management and logistics to provide problem statements as well as real life solutioning capabilities to test bed ideas
o SCAngels and KPMG will set up a satellite office within KPMG Digital Village and Supply Chain City respectively. Supply Chain City is YCH Group’s upcoming flagship facility and headquarters.
James Ong, Partner and Invest Committee Member from SCAngels, said, “We are delighted to work with KPMG on this initiative. Driving innovation within Singapore’s supply chain management and logistics industries is one of SCAngels’ key objectives. Through this collaboration, we will mentor startups and offer them access to key knowledge and expertise, so that they are well-placed to succeed.”
Beyond mentorship and access to expertise, KPMG and SCAngels will adopt an approach that looks at addressing specific business challenges. This aims to help startups build solutions with a strong value proposition that is contextualized to the client’s business needs.
Lyon Poh, Head of Digital + Innovation, KPMG in Singapore said, “Logistics Technology (LogTech) is one of the sectors identified as part of Singapore’s long-term smart nation vision. It is also one of the key sectorial focus areas for the KPMG Digital Village. We believe that our approach of helping logistics companies to address their unique challenges, coupled with knowledge of industry trends and business issues, will be a good complement to YCH’s depth of supply chain management experience. This will help local LogTech startups to focus the potential of their innovation on the specific needs of logistics companies.”
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