Spaze Ventures launches EduSpaze as Singapore’s first edtech accelerator supported by Enterprise Singapore
New accelerator provides up to S$500,000 to early-stage edtech startups, first cohort begins in February 2020. EduSpaze is a regional hub for Southeast Asia’s edtech ecosystem.
Singapore, 05 November 2019 – Spaze Ventures today announced the launch of EduSpaze, Singapore’s first educational technology (edtech) accelerator supported by Enterprise Singapore, the enterprise development agency. The new accelerator supports early-stage edtech companies with up to S$500,000 of funding. Additional customised resources are available to meet the needs of each company participating in the programme. Eligible companies have until 20 December 2019 to apply to participate in the inaugural EduSpaze cohort. Up to ten companies will then be selected to begin the programme in February 2020.
Technology is transforming education
The global education market is projected to be worth USD 10 trillion by 2030. Educational technology plays an increasingly important role in teaching and learning from K-12 through to higher education.
The evolving labour market is also impacting traditional education and workforce training, as institutions and companies adapt to meet global employment trends. In the coming years technology is set to further transform the sector as a result of growing demand for lifelong learning and 21st century skills.
“We see great opportunity in the education sector across Singapore and Southeast Asia, both in terms of the size of the market and the demand for new solutions,” said Alex Ng, Managing Partner at Spaze Ventures. “We want EduSpaze to provide mentorship, practical skills and resources to facilitate high-quality innovation in education. With the support of Enterprise Singapore and a strong ecosystem, we are confident that we can help to solve gaps in the sector and keep up with evolving educational needs in Singapore and the region.”
Accelerator with a difference
In addition to an exclusive focus on edtech companies, EduSpaze differs from typical startup accelerators in a number of ways. The EduSpaze programme is not structured as a fixed ‘curriculum’ that all participating startups are expected to take part in. Instead, the focus is on a customised experience that addresses the specific requirements of each company.
The programme places an emphasis on impact by ensuring that edtech products meet the pedagogical needs of educators, trainers, and learners. For example, EduSpaze replaces the notion of ‘entrepreneur in residence’ with a dedicated ‘educator in residence’ who can provide insights from extensive experience as an educator in the education sector. EduSpaze also focuses on robust methodologies to measure the effectiveness of new edtech products when it comes to improved learning outcomes and other positive impact metrics.
In addition, the programme addresses more conventional accelerator topics such as business development and perfecting a pitch to raise further funding.
“We want to be thoughtful about how EduSpaze operates as an edtech accelerator at a local and regional level. Drawing on my background in the edtech space in Finland, I would like to leverage global best practices to help stimulate innovation in the space here in Singapore,” said Niko Lindholm, Programme Director at EduSpaze and former Director of the xEdu edtech accelerator in Helsinki, Finland.
Nurturing a broader ecosystem
To achieve its goal of fostering innovation throughout the ecosystem, EduSpaze has established partnerships with leading educational organisations and institutions in Singapore, the wider region of Southeast Asia, and at a global level. Headquartered in Singapore, EduSpaze will benefit from strong government support and existing infrastructure within the market.
“Singapore is a leading startup hub, with the expertise and network to serve as the launchpad to the region and beyond. EduSpaze, the first edtech specialist accelerator, strengthens our edtech ecosystem. With globally respected research collaborators and growing integration with traditional education players, we are well-positioned to grow into a global leader in edtech. I strongly encourage more talents to join the edtech sector to bring it to greater heights,” said Ted Tan, Deputy Chief Executive Officer at Enterprise Singapore.
More information on the EduSpaze application criteria and process is available at www.eduspaze.com/apply.
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EduSpaze is Singapore’s first edtech accelerator supported by Enterprise Singapore, the enterprise development agency. It aims to nurture a vibrant edtech startup ecosystem that serves the education sector in Singapore and Southeast Asia. EduSpaze helps early-stage edtech startups go to market, accelerate their growth, and co-innovate with other stakeholders in the space. The new accelerator supports companies that address sector-specific challenges with innovative solutions to improve learning outcomes and the impact of education. EduSpaze is part of Spaze Ventures.
About Spaze Ventures
Spaze Ventures is a seed capital firm that provides seed funding and mentorship to the founders of early stage startups. It has operated a sector-agnostic startup incubator since 2014, and has a portfolio of more than 20 startups. After five years of supporting the startup ecosystem and educating founders of early stage startups, it has established a strong network of partners including many educational institutions. Spaze Ventures launched EduSpaze as a dedicated edtech initiative in 2019.
About Enterprise Singapore
Enterprise Singapore is the government agency championing enterprise development. We work with committed companies to build capabilities, innovate and internationalise.
We also support the growth of Singapore as a hub for global trading and startups, and build trust in Singapore’s products and services through quality and standards.
Visit www.enterprisesg.gov.sg for more
 Education in 2030; HolonIQ and various underlying estimates from Goldman Sachs, GSV, IBIS Capital, Citi
 Unlocking the Economic Impact of Digital Transformation in Asia Pacific, Microsoft and IDC, April 2018