- EDB invests $32M in corporate innovation
- Program facilitates startup partnerships
- Singapore aims to become a global innovation hub
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Big Money for Big Ideas
The Singapore Economic Development Board (EDB) is injecting S$32 million into its Corporate Venture Launchpad (CVL) program over the next two years.
This substantial increase aims to fuel corporate innovation and foster partnerships between established companies and startups.
Bridging the Gap
CVL 3.0 addresses common challenges in corporate-startup collaborations, including misaligned expectations and process incompatibilities.
The program will offer capability-building initiatives and co-funding opportunities to streamline partnerships and drive impactful outcomes.
Tech Giants Weigh In
Industry leaders like Infineon Technologies have highlighted the value of startup collaborations in areas such as software innovation and application-level advancements.
The structured support provided by CVL 3.0 is expected to accelerate these partnerships and nurture a culture of continuous innovation in Singapore.
