Securing funding for a startup, particularly in its formative stages, presents a major challenge for students looking to bring their innovative ideas to fruition. So, how does one navigate the process of attracting investors and scaling a business to the heights of giants like Uber, Zoom, or Spotify? The realm of venture capital (VC) often appears impenetrable to those unfamiliar with its intricacies.

Since its inception in 2017, SMU’s Protégé Ventures (PV) has been dedicated to bridging this gap by equipping student investors with hands-on VC training and fostering an extensive network of connections. As Southeast Asia’s first and only student venture fund and training programme, PV offers students a unique opportunity to immerse themselves in the high-stakes world of venture capital, benefiting them with extensive guidance and mentorship from experienced staff and active investors.

In this series, we engage with members of PV to gain insights into their experiences at the venture fund. First up is Ryan Teo, a double degree student majoring in Accountancy and Data Science & Analytics at SMU.

Ryan, who serves as the Partnership Lead at PV is also an entrepreneur, emphasises the relationship-centric nature of the VC industry. “Venture Capital is a very relationship-heavy industry; there is only so much technical knowledge you can learn in a classroom. To truly leverage the opportunities PV offers, you need to be proactive and self-directed,” he asserts. Ryan’s dual role at PV and as a business owner exemplifies the multifaceted experience that the programme aims to provide. 

Immersion in the VC ecosystem

Students from polytechnics and universities across Singapore have the chance to engage with PV for a comprehensive introduction to the VC world. The programme begins with a 2-day boot camp, offering a detailed overview of VC fundamentals.

Participants then begin weekly sessions with PV Academy, where they gain practical insights into VC processes through direct interaction with industry professionals. In the subsequent months, students work in groups to develop investment memos, which outline the key aspects and value propositions of startups.

These memos not only reflect the VC knowledge that students have gained in the programme but also help students build a foundation for future roles within startups or VC firms. As Ryan notes, “Beyond just capital investment, a VC’s key value add is its network. I hope to build up more strategic connections within the innovation ecosystem to better support different startups.”

Selected student analysts may advance to roles such as student associates, principals, or even partners with PV. Ryan, for instance, has progressed to the role of Partnership Lead, where he plays a crucial role in expanding PV’s network within the broader innovation ecosystem to support student startups. His tenure at PV has not only enriched his professional network but also opened new doors for his own career development.

“When I joined PV, I had the opportunity to engage with a variety of founders working on innovative projects, especially within the deep tech sector. This experience broadened my perspective and made me reconsider the direction of my own career,” Ryan shares.

“Entrepreneurs are essentially problem solvers addressing real-world problems, and I wanted to be part of that dynamic ecosystem. This realisation has also prompted me to become more involved with tech communities in SMU, such as the AI Club, Blockchain Club, Sustainable Investment Club, and Start Up Society.”

Enabling visions of tomorrow

One of the most rewarding aspects of joining PV has been the opportunity to connect with and learn from visionaries in industries outside of one’s area of expertise. Coming from a biomedical background, Ryan realised earlier on that working in a lab wasn’t his true calling. Instead, he found that contributing to the growth of the deep tech ecosystem aligned better with his career aspirations and desire to make a societal impact.

The shift from biotech to space technology was unexpected for him. Yet, he now finds himself leading an investment deal for rocket startup Equatorial Space, a Singapore-based company specialising in hybrid-engine rockets and space launch services.

“I feel incredibly fortunate to witness the work of some of the world's most ingenious engineers, including those who are literally rocket scientists!” Ryan says with evident enthusiasm. “The Equatorial Space team is pioneering a cleaner, more cost-effective, and safer hybrid engine propulsion system. Their technically expertise and commitment to reducing risk, cost, and environmental impact are truly impressive.”