Singapore's NRF awards $30m to CapitaLand, DeClout, Wilmar, YCH to invest in local startups

Singapore's NRF awards $30m to CapitaLand, DeClout, Wilmar, YCH to invest in local startups

Visual of National Research Foundation (NRF) homepage. May 2016.

Singapore’s National Research Foundation (NRF)  has given out grants up to S$40 million (around $30 million) to four large local enterprises (LLEs) for investments in startups in the city-state, in an announcement at InnovFest unBound 2016, a innovation festival and digital conference organised by NUS Enterprise and unBound Media.

The firms who will receive S$10 million each to pursue corporate venture investing include listed entity DeClout, realty major CapitaLandagribusiness group Wilmar International and logistics firm YCH Group. This is a first of its kind partnership that Singapore’s NRF has entered into with large corporate entities.

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