Launch of a new initiative to connect more than 700 start-ups with corporate partners

SINGAPORE – More than 700 startups will now be able to take advantage of a new initiative to connect with global businesses for collaboration and investment opportunities, in a boost to Singapore’s startup landscape.

LaunchPad Investor Network, launched by industry development agency JTC Corporation on Friday (May 27), will provide an avenue for startups located in LaunchPad in the one-north and Jurong Innovation District to work with corporate partners.

Its aim is to pave the way for new companies to expand through the regional and global networks of these companies, as well as for funding opportunities and joint research and development activities.

Eight companies have joined as pioneering members of this network, including Hyundai Motor Group’s innovation arm, Hyundai Cradle, PSA International’s corporate venture arm, PSA unboXed, agricultural trader Louis Dreyfus Company (LDC), super-app Grab and the consumer Internet company Sea Limited. .

High-growth emerging sectors such as agri-food, fintech, logistics, urban mobility and sustainability have been identified as key areas of collaboration between start-ups and businesses.

The network is part of JTC’s effort to leverage its position as a real estate developer and connections to industry heavyweights, to give LaunchPad startups a boost in growth, market and funding opportunities.

It is intended to be a means for the structured facilitation of links between start-ups and corporate partners.

Announcing the launch of the network at the JTC LaunchPad TechFiesta event held at one-north on Friday, Trade and Industry Minister Gan Kim Yong encouraged more corporations to join the network.

“With more than 700 startups within a tight-knit ecosystem that continually promotes entrepreneurship and innovation, there are plenty of opportunities for investors and existing companies to find compelling value propositions amidst these startups,” he said.

The eight companies on board have collectively invested more than US$23 million (Singapore $31.5 million) in Singapore-based startups to develop new solutions over the last three years.

This includes an investment by LDC in biotech startup ProfilePrint, which is seeking to develop innovative approaches to classifying and pricing raw materials such as coffee beans.

Add Comment