Singapore real estate major CapitaLand sets up $37.8m innovation fund

Singapore-based real estate major CapitaLand Ltd has set up a S$50 million ($37.8 million) fund to spur sustainability-focused innovation in the built environment space.

The CapitaLand Innovation Fund will invest the capital over five years.

“The CapitaLand Innovation Fund will enable us to catalyse more innovations, accelerate our global sustainability efforts and ensure that we remain at the forefront of technology in the built environment space,” CapitaLand group CEO Lee Chee Koon said in a statement.

The company on Friday also announced the winners of the first CapitaLand Sustainability X Challenge (CSXC). The two winners were chosen from six finalists that were shortlisted from over 270 entries received from more than 25 countries.

INOVUES won the High Impact Award for an insulating glass retrofit technology that reduces heat gain inside a building, reducing the energy consumption used to heat or cool the building by up to 40%.

Climatec Corp Pte Ltd received the Most Innovative Award for a water treatment process utilising photon vibration frequency technology to treat cooling tower water without the use of chemicals or power. Both winners will receive S$50,000 each to fund their pilot projects with CapitaLand.

“The inaugural CapitaLand Sustainability X Challenge has allowed us to uncover promising innovations that we can potentially implement at our properties across the globe and help us achieve our ambitious targets set out in our 2030 Sustainability Master Plan,” CapitaLand’s Lee said.

In addition to the prize money, the winners will showcase their innovations to senior global business leaders, investors and policymakers at the annual Ecosperity Week organised by Temasek, the lead partner of the CSXC.

Launched in November 2020, CSXC is aimed at sourcing emerging solutions or technologies globally to solve sustainability challenges impacting the firm’s business.

In October 2020, CapitaLand opened the Smart Urban Co-Innovation Lab at the Singapore Science Park in partnership with the Infocomm Media Development Authority and Enterprise Singapore, with sustainability as one of its focus areas.

CapitaLand will redeploy interest rate savings from its sustainability-linked loans towards the group’s sustainability initiatives.

CapitaLand is one of Asia’s largest diversified real estate groups. It owns and manages a global portfolio worth about S$137.7 billion as of 31 March 2021.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.