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INFORMATION TECHNOLOGY | Staff Reporter, Singapore

SSC appoints partners to expand investment on startups

It hopes to reach more than $200m of investments over the next eight years.

SPRING SEEDS Capital Pte. Ltd. (SSC), the investment arm of SPRING Singapore, appointed nine co-investment partners under Startup SG Equity.

The partners will co-invest in local deep technology startups specialising in Advanced Manufacturing & Engineering (AME), Health & Biomedical Sciences (HBMS), and Urban Solutions & Sustainability (USS).

“The appointed partners will help shorten the learning curve of high potential startups by injecting resources and expertise. This includes helping with technology translation, offering prototyping and manufacturing facilities, and lending strategic networks for development and commercialisation,” said SSC in a press release.

In line with this, SSC is allotting up to $100m under Singapore’s Research, Innovation and Enterprise (RIE) 2020 plan. It also targets to reach more than $200m of investments into early stage startups over the next eight years.

Startup SG Equity, which is a part of the Startup SG initiative, focuses on developing startups with intellectual property and global market potential.

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