YCH's Supply Chain Angels and KPMG Sign MoU to Build Logistics Startup Ecosystem

Sep 14, 2016 12:00:00 AM

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:

• SCAngels and KPMG Digital Village will support the growth of each other's ecosystem through the collaboration of resources
• KPMG Digital Village will support SCAngels' mentorship program through the provision of experienced mentors to catalyse the growth of start-ups in the program
• 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."

About Supply Chain Angels

Supply Chain Angels (SCA) is the corporate venture arm of YCH Group. SCA invests in startups that are synergistic and complementary to YCH's supply chain and logistic business with the aim of "Creating Unicorns in the Supply Chain". SCA will invest in logistics and supply chain start-ups that have high growth potential with a technology focus in areas such as the "Uberisation" of Logistics ,the Internet of Things (IoT), 3D printing, Big Data, Robotics and FinTech.

For further information, please visit www.scangels.com.sg

About KPMG in Singapore

KPMG in Singapore is part of a global network of professional services firms providing Audit, Tax and Advisory services. The KPMG network operates in 155 countries, with more than 174,000 people working in member firms around the world. In the ASEAN region, member firms operate across all 10 countries of this regional grouping providing professional services supporting the growth, compliance and performance objectives of our clients.

The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

For further information, please visit kpmg.com.sg

About KPMG Digital Village

KPMG Digital Village is a collaborative innovation ecosystem consisting of corporates, investors, start-ups, educational institutes and experienced mentors from KPMG and industry alliances. It aims to match the needs of corporates and investors with the supply of innovation from the likes of start-ups and research and development (R&D) houses.

For further information, please visit digitalvillage.asia