By CHEN HUIFEN

THREE organisations that lend assistance to start-ups and entrepreneurs in Singapore are joining forces to extend their reach and strengthen support for one another.

The Business Angel Network South East Asia (Bansea), the Singapore Venture Capital and Private Equity Association (SVCA), and The Indus Entrepreneurs Singapore (TiE) have signed a memorandum of understanding to link their members and facilitate co-investment opportunities and the sharing of resources and information to generate deal flow.

'The recession has presented new challenges for everyone, including venture capital and private equity players,' said SVCA chairman Eugene Wong. 'Organisations like us must play a greater role in helping our members and the business community at large to emerge stronger after this financial crisis.

'In the longer term, we hope our MOU will bring Singapore closer to becoming a regional venture capital and private equity hub for fund managers operating here and limited partners investing in the Asia-Pacific region.'

The pact will formalise cooperation among the three not-for-profit organisations, which have been working with one another on an ad hoc basis. It will leverage on their strengths, synergies and best practices to better help Singapore start-ups and SMEs grow their business locally and globally.

Bansea and SVCA members will be able to tap a wider entrepreneurial network through TiE Singapore, one of the 52 chapters of TiE globally. TiE is one of the world's largest not-for-profit organisations for entrepreneurs, with over 12,000 members. Conversely, TiE members can tap the funding and mentor networks of Bansea and SVCA.

The three parties will jointly organise networking events and refer eligible companies and mentors to one another.

They will also explore the relocation of their offices to a common site to share facilities and serve as a one-stop centre for both investors and entrepreneurs.

The MOU will be effective for two years, after which it may be extended by mutual agreement.

This article was first published in The Business Times .