30 Jan '15, 2am

Why Singapore is hoping to attract U.S. startups

Why Singapore is hoping to attract U.S. startups

Singapore has aspirations to become the world’s first “smart nation” and extended a $200 million fund to U.S. startups earlier this month. The fund, managed by Infocomm Investments , the venture capital arm of the Singaporean Government’s Infocomm Development Authority (IDA ), was previously restricted to Singaporean companies and citizens. The country hopes the move will attract U.S. startups to Singapore to help accelerate its Smart Nation initiative and develop new, sustainable and viable solutions that will improve all aspects of Singaporean society and meet public needs. The goal of the Smart Nation initiative is to get the entire country connected — everyone, everything, and everywhere, all the time — and to benefit from the data collected from that effort. What’s In It For U.S. Startups? The extension of the IDA fund to U.S. startups means such startups now have an ...

Full article: http://venturebeat.com/2015/01/29/why-singapore-is-hoping...

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