CapitaLand will set aside $15 million to support tech start-ups in Singapore. (Photo: Bloomberg)
CapitaLand has been selected to co-invest in the Early Stage Venture Fund III Scheme (ESVFIII) by the National Research Foundation, a department within the Prime Minister’s Office of Singapore.
Under the scheme, CapitaLand will allocate $15 million to support local tech start-ups with innovations that can complement and enhance its business, in areas such as design and construction, operations and maintenance, sales and leasing, customer engagement, workplace productivity and smart living solutions.
These start-ups will have the opportunity to test-bed their solutions in CapitaLand’s various commercial and residential properties in more than 150 cities.
The company has already started with various initiatives, such as CAPITASTAR, a cardless loyalty programme with 2.8 million members in Singapore, China, Malaysia, Japan and India.
It has also launched two e-commerce pilots – Food-to-Go in Raffles City Singapore and Project Just Use at Capital Tower.
Ng Kok Siong, Chief Corporate Development Officer at CapitaLand, said: “This grant supports our endeavour to invest in and work with start-ups in our space and identify transformative ideas that can be commercialised.
“We believe this will bring positive impact to the real estate industry and, through nurturing Singapore start-ups, catalyse the country’s journey towards becoming a Smart Nation.”
Other companies that are looking to invest in start-ups here include DeClout, Wilmar and YCH, reported The Business Times.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
