Navigating the startup ecosystem: PwC Singapore launches Venture Hub
ON Tuesday, Pricewaterhouse Coopers Singapore launched Venture Hub, which will serve as a one-stop shop for investors and entrepreneurs to learn how to operate in the startup ecosystem that can seem complicated.
Just four months ago, another one of the Big Four accounting firms, KPMG launched a similar entity called the KPMG Digital Village as a collaborative innovative effort for investors, corporates and innovators.
PwC Singapore’s Venture Hub will be based in the city state and headed by Patrick Yeo.
According to Yeo, the consulting and accounting firm identified the need for change in the “conventional model of how professional services firms provided advice” to the various stakeholders involved in the venture ecosystem in order to meet all needs “with speed, agility and efficiency”.
He also assured that this new model will give stakeholders more flexibility in seeking advice in areas ranging from business strategy to regulatory compliance. This initiative will also give more innovative ways for stakeholders to collaborate rather than submitting to fixed costs common among traditional services firms.
PwC Singapore, which is known to be active in fintech sector in the city state, also aims to look into other sectors in disruptive technology to link clients with other regional and global markets.
Other initiatives in Singapore by the professional services firm include launching its first Investment Fund Centre in Asia last year catering to asset managers and service providers looking for regional growth opportunities, and its May announcement about setting up a new specialist centre of excellence headquarters to help family businesses in the region.