26 Oct '15, 1am

Singapore seeds another S$40m to power economic transformation and foster a dynamic start-up scene

A SUM of S$40 million has been set aside by the Singapore government for the third Early-Stage Venture Fund (ESVF-III), the latest in a slew of government initiatives to boost the startup ecosystem as a catalyst for a broader economic transformation. ESVF, started in 2008, is a fund administered by the National Research Foundation (NRF) to seed venture-capital (VC) funds investing in early-stage tech startups in Singapore. Vivian Balakrishnan, Minister-in-charge of Smart Nation, the national push to turn Singapore into a global infocomm hub that leverages technology for economic and social development, said: "NRF will be launching ESVF-III to catalyse the establishment of corporate venture funds by large local enterprises (LLEs) ... and to catalyse the growth of high-tech innovative companies through government co-investments with private-sector LLEs." Speaking at the open...

Full article: http://www.businesstimes.com.sg/technology/singapore-seed...

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