25 Mar '11, 9pm

S$20m investments in 69 startups last year: SPRING.

SINGAPORE - SPRING Singapore said that it has invested a total of S$20.05 million in 69 startups last year. This compares with S$20.74 million invested in 98 startups in 2009. SPRING says the investment amount was lower last year because of the economic recovery, which enabled companies to secure private funds. It invested S$1.55 million in 31 Youth Entrepreneurs Scheme startups, last year. Under its Startup Enterprise Development Scheme (SEEDS), SPRING invested S$10.1 million in 15 small and medium enterprise (SMEs) last year. SPRING's Technology Enterprise Commercialisation Scheme, helped 23 startups with an investment of S$8.4 million last year. Looking ahead, SPRING expects the start-up scene in Singapore to remain vibrant due to a robust economic outlook. "Some 53,400 new businesses were started, a 6-per-cent increase from 2009," said Mr Tan Kai Hoe, deputy chief exec...

Full article: http://www.todayonline.com/Business/EDC110326-0000057/S$2...

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

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