SPRING Singapore to appoint five accelerators, conduct joint investments

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SPRING Singapore is looking to appoint five accelerators to incubate business ventures across multiple sectors, as well as jointly invest up to a maximum of S$4 million ($2.97 million) per startup venture. These startups must be operating in emerging sectors like clean technology and engineering.

Appointed accelerators will co-invest with Spring Seeds Capital (SSC) – the investment arm of Spring – on a 1:1 basis. SSC will draw from the S$75 million top-up announced earlier this year at Budget 2015.

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