25 Mar '11, 4pm

SPRING Singapore invested S$20m in 69 startups last year

SPRING Singapore invested S$20m in 69 startups last year

SINGAPORE : SPRING Singapore invested a total of S$20.05 million in 69 startups in 2010. This compares with S$25.74 million invested in 98 startups in 2009. SPRING Singapore said the investment amount was lower last year because of the economic recovery, which enabled companies to secure private funds. Looking ahead, SPRING Singapore expects the startup scene in Singapore to remain vibrant due to a robust economic outlook. Info-comm firm PigeonLab is one start-up that received funding from SPRING Singapore in 2010. The company, co-founded by fresh university graduates Hew Joon Yeng and Lyon Lim, created a software application to facilitate question-and-answer sessions during conferences and dialogue sessions. PigeonLab received about S$50,000 of grants under the Youth Entrepreneurs Scheme for Startups, or YES! Startups. The money went into creating the software Pigeonhole,...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

Comments

  1. 26 Mar '11, 3am

    Go SPRINGsters go!

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