Published on 26 Oct 2023

Ted Chen co-founded Evercomm Singapore to combat climate change

NTUpreneur Ted Chen co-founded Evercomm Singapore, an energy IoT start-up that analyses energy consumption data to combat climate change.

Ted, co-founder and CEO of Evercomm Singapore

Ted Chan
Co-founder of Evercomm Singapore
NTU Graduate
Master of Science in Technopreneurship & Innovation (MSc TIP) 

1. How it all began...
As an engineer in EEE, I needed the foundation and fundamentals to fundraise, develop products, build teams, and scale the operation. I pursued the MSc TIP at NTU Entrepreneurship Academy.

During that time, I was also in the process of raising my Series A funding. The topics related to VC and fundraising that I learned during the programme were incredibly beneficial. Almost everything I learned has been applied during various phases of my company's growth.

Today, I'm delighted to lead a high-growth and high-impact venture-backed company.

2. My success journey 

I took about 18+ months, from the planning stage to running a venture incubated through NTUitive. The most challenging moments are cash flow issues, such as ensuring timely salary payment. I embrace a resilient mindset while managing a lean start-up and consistently learning from various seasoned serial entrepreneurs and mentors within the NTU ecosystem. NTUitive also supported me in tech licensing and helped me secure my first government grant ($0.5 million) and seed funding from an investor ($0.5 million).

3. An advice on what it takes to succeed as an innovator/entrepreneur

Have grit… a lot of it. And be ready to sacrifice your sleep and social life in the early stages.