Singapore-based venture capital firm Quest Ventures and the Singapore Centre for Social Enterprise (raiSE) have launched an accelerator targeting startups in the social impact space.
The accelerator programme, which will run from June to August this year, will offer funding of up to $40,000, mentorship, and network access to seed-stage startups to help them to scale and access markets overseas. Applicants must already be generating revenue, have a user base, and demonstrate potential for double-digit year-on-year growth within the next five years.
“ESG and impact investing are not new concepts in Singapore and the region, but there is still plenty of room for growth. With the growing appetite for sustainable investments, the accelerator programme will benefit both investors and start-ups in tackling important social issues and gaps,” James Tan, the managing partner of Quest Ventures said in a press release.