ENGIE Factory launches in Singapore to Boost Asia-Pacific’s Energy Transition and the Energy Startup Ecosystem

 
Source: 
ENGIE
Friday, 22 February, 2019

  • ENGIE Factory is ENGIE’s strategic venture arm committed to building new ventures, establishing corporate-startup partnerships and investing in startups to develop an increasingly decarbonised, decentralised, digitalised world

ENGIE has today launched ENGIE Factory Asia-Pacific in Singapore, the company’s strategic venture arm for the Asia-Pacific region. It will focus on driving world changing solutions and greater efficiencies in renewable energy through new, critical ventures with startups, corporate partnerships, and strategic investments.

Enterprise Singapore, the agency championing enterprise development, has been a key partner for ENGIE Factory Asia-Pacific in its set up. The latter is now a Startup SG Accelerator partner and it provides mentorship and resources to support the growth of startups. It is the first energy-specific accelerator programme in Singapore that goes beyond incubation activities to incorporate co-development, test-bedding and actual deployment of solutions. Aimed at accelerating the energy transition in Asia-Pacific, ENGIE Factory Asia-Pacific will provide startups across the region with an opportunity to collaborate on energy and smart city solutions.

 

Located at Golden-Agri Plaza along Pasir Panjang Road, ENGIE Factory Asia-Pacific offers a co-working space for startups and like-minded people to work on ground-breaking ideas and products with the support of experts and executives at ENGIE.

 

Quentin Vaquette, Managing Director, ENGIE Factory Asia-Pacific commented, “We work with great founders and startups alike that solve real issues. For the first time, ENGIE Factory Asia-Pacific will enable them to access vital funding and expertise in the region to help fast-track their solutions. With Enterprise Singapore’s support, we were able to understand the startup landscape, and get connected to various startups, SMEs, and ecosystem enablers.”

 

 

Singapore’s role in the energy transformation and its growing startup ecosystem

 

Paul Maguire, CEO, ENGIE Asia-Pacific commented, “Singapore is helping to transform the global energy sector and is home to a thriving startup scene, so it was a natural decision for ENGIE Factory Asia Pacific to establish our co-development, regional headquarters here. We believe ENGIE, through ENGIE Factory Asia-Pacific, can play an active role in helping to expand and develop Singapore’s rich ecosystem of energy and smart city startups, and together, co-develop innovative solutions that help us all reach a more decarbonised, decentralised, and digitalised world.”

 

Ted Tan, Deputy Chief Executive Officer, Enterprise Singapore, who was the Guest-of-Honour at the launch event said, “Enterprise Singapore values the role of multinationals and global accelerators in contributing to a vibrant startup ecosystem. Market leaders like ENGIE bring in-depth industry expertise and global networks that enable startups to develop innovative yet practical solutions, test-bed them in actual projects, and build track record. We look forward to ENGIE Factory Asia-Pacific’s partnership with local startups to create sustainable solutions that will change the way individuals and cities consume energy.”

 

Headed by Quentin Vaquette, ENGIE Factory Asia-Pacific’s activities span across the region, giving startups the opportunity to collaborate with ENGIE teams in Southeast Asia and Australia.

 

“With our BUILD-SCALE-INVEST approach, we’re looking at helping great startups and founders across Asia-Pacific make a meaningful impact and together, solve real issues that matter in the energy and smart city ecosystem. To date, over 80 startups have applied to our recent call for startups, and have expressed interest to collaborate with ENGIE Factory. We look forward to welcoming more onboard,” said Quentin Vaquette, Managing Director, ENGIE Factory Asia-Pacific.

 

ENGIE Factory Asia-Pacific will be working closely with Enterprise Singapore to reach out to local and regional startups, explore co-financing deal flow, and catalyse industry engagements through community events.

 

With a goal of co-creating the future of energy and smart cities together with startups, the launch of ENGIE Factory Asia-Pacific in Singapore marks another significant milestone for the company. Earlier this year, ENGIE demonstrated its dedication to energy innovation committing to be Challenge Partner for The Liveability Challenge 20191 by Temasek Foundation Ecosperity.