Bloomberg, 25 Jan 2013N-House, which opened in August 2011, is one strand of a five-year plan by the government that includes offering new technology companies grants of as much as S$500,000, supporting venture capital funds, and encouraging high schools to teach business and entrepreneurial skills, in an effort to groom the next Mark Zuckerberg, co-founder of Facebook Inc.
So far, successes have been few. Standard-bearer for the program is Darius Cheung, 31, who sold his first company, a security program that protects mobile phone data, to McAfee Inc. for more than $10 million in 2010.
His latest company, BillPin, is among more than 100 located in a refurbished public housing block called Blk71 funded by the government and Singapore Telecommunications Ltd. (ST), the nation’s largest telecoms company. BillPin allows users to divide shared expenses like rent and bar tabs via an Internet account. Full story
