Singapore, 4 October 2021 – The Institution of Engineers, Singapore – Incubator and Accelerator (IES-INCA), Singapore’s deep tech incubator for entrepreneurial engineers, today announced the signing of a Memorandum of Understanding (MoU) with BOP Hub Ltd, an incubator for social enterprise businesses operating in base-of-the-pyramid communities throughout Asia.
Under the MoU, BOP Hub will act as a channel for technologies developed by IES-INCA and its associates for implementation and commercialisation in its markets. With a focus on social systems and inclusive business development in support of the United Nations Sustainable Development Goals (SDGs), BOP Hub will assist entrepreneurs in their endeavours and provide internship opportunities for IES-INCA and its affiliate members.
IES-INCA members will provide engineering consultancy and mentorship to social entrepreneurs requiring support for engineering design or addressing engineering problems. Another commitment by IES-INCA under the MoU is development of training modules through the IES Academy and BOP Hub to support social entrepreneurs and enhance IES members’ understanding of social systems and inclusive business development.
“One of IES-INCA’s key propositions to our incubatees is forming partnerships that will enable them to build a scalable and sustainable business. With the BOP Hub’s wide networks and knowledge of many developing and emerging markets, they can help many of our incubatees access these difficult emerging markets which are large and challenging,” said Edwin Khew, Director of the Board of IES-INCA and Chairman of its holding company ES Pte Ltd.
BOP Hub’s Founder, Jack Sim, added, “The base-of-the-pyramid is a greatly underserved market of over 4 billion people. We believe many of the entrepreneurial ventures incubated in IES-INCA will be able to find an expanded market for their technologies and businesses here. Importantly, this collaboration will provide IES members with opportunities to partner BOP Hub to uplift the lives and livelihoods of BOP communities by making available advance products and services, as well as contribute to economic activity and job creation.”
– Construction+ Online