EDB initiates $10m Corporate Venture Launchpad programme

The programme will support large and established companies in innovating their businesses.

The Economic Development Board (EDB), through its corporate venture building arm EDB New Ventures, launched a $10m pilot programme to support innovation in established Singapore-based companies.

The Corporate Venture Launchpad (CV Launchpad) is designed to support companies which are new to venturing, and will enable them to innovate their products, services and business models to keep ahead of the competition.

"The Corporate Venture Launchpad programme seeks to spur companies to create new ventures from Singapore, that can scale to become globally competitive businesses. These corporate ventures will complement our vibrant start-up ecosystem, to create exciting job opportunities and new entrepreneurial career pathways in Singapore," said EDB Chairman Beh Swan Gin.

To date, EDB appointed BCG Digital Ventures, FutureLabs Ventures, Leap by McKinsey and Rainmaking to work alongside companies to incubate fresh business ideas wihtin a phase of six months.

Interested companies can visit this (https://www.edb.gov.sg/en/how-we-help/corporate-venture-launchpad-programme.html) website for more information.

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