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This programme aims to support established corporates, regional family businesses and high growth companies with Singapore-based operations to:
Potential follow-on co-investment and value creation support by EDB New Ventures are available for ventures launched from this programme.
The programme is organised around two key tranches to help companies grapple with the unknowns of building a new venture outside their core business.
Takes participating companies through the early stages of starting a new venture. We believe that sprints help teams clearly define their corporate venturing goals and ensure that their high conviction ideas get developed through a series of robust market validation. Sprints apply venture-building methodologies to develop an idea into an investible business plan that is data-backed and tested through interviews with customers and relevant stakeholders in an accelerated time period.
Post-sprint execution period where the venture builds the actual full-scale product or service offering, similar to the pre-seed stage of creating a start-up. We are providing support to accelerate the speed of the new venture set-up with its own founding team and co-share the entrepreneurial risk undertaken by the company to launch an independent new business.
Only high-potential projects that have successfully completed the validation sprint (Tranche 1) as part of the CVL 2.0 programme may be eligible to apply for support via Tranche 2.
Ventures Made Possible is a video series spotlighting profiles from within the corporate venturing community in Singapore who share about their corporate venturing journeys.
Watch the first 3 episodes below. Stay tuned for new episodes to be released!
Venture studios specialise in supporting companies in the ideation, incubation and building of new ventures that can scale to become successful new businesses. Each venture studio brings its unique version of capability building offerings, methodologies, people and resources.
Six venture studios have been appointed by EDB New Ventures to be part of CVL 2.0. Companies can now choose from this diverse and proven pool of venture studios to undertake concept validation sprints for venture ideas, and thereafter launch each new venture.
An open call for proposal was launched in June 2022 for venture studios with a Singapore presence to participate in the programme. During this process, EDB New Ventures evaluated and appointed six venture studios with support from an advisory panel comprising representatives from corporates experienced in building ventures, as well as government agencies.
Venture studios have been assessed based on the following criteria:
Each appointed venture studio has its unique methodology and offerings for the Corporate Venture Launchpad. Click here to download infopacks of your preferred venture studio.
Under CVL 2.0, both companies new to venture building in Singapore and those that have existing venture building efforts are now eligible. Each company may apply for multiple applications if they intend to pursue ventures in different opportunity areas.
Full details of eligibility criteria, programme conditions and deliverables will be available through any of the appointed venture studios. Each appointed venture studio may have additional requirements depending on their methodologies for ensuring successful concept validation sprints and venture build.
Interested companies should discuss this with an appointed venture studio to find out more and assess best fit.
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Contact any appointed venture studio to:
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Get in touch with EDB New Ventures at new_ventures@edb.gov.sg and:
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Interested but need some help to be more prepared for venture building? We have developed some self-help tools to assess your organisation’s venture building readiness, facilitate venture studio evaluation and help scope a new venture sprint effectively.
For the toolkit and/or more details on the application process, please reach out to any appointed venture studio of the programme or email us at new_ventures@edb.gov.sg!
In a world of disruption and shifting opportunities, corporates need to innovate even more than before. EDB New Ventures believes that corporates have a wealth of unique advantages, that can be channeled towards new growth areas beyond existing core businesses.
Our New Ventures arm has been set up to support corporates in building new businesses, and to catalyse corporate venturing in Singapore. Our objective is growing corporate ventures here into globally leading new businesses. In addition, we support our partner corporates and ventures by providing access to industry networks, expertise and risk-sharing capital.
Singapore is now home to close to 80 corporate ventures from the best companies in the world. Corporates such as Schneider Electric, Procter & Gamble, Bosch, ENGIE and Olam have established teams here to grow multiple new businesses for the global market.
A corporate venture is a new business targeting a new revenue opportunity that is outside of the corporate’s existing business. It is often launched as a separate legal entity, or in some instances, created as a new business unit within the corporate.
To operate with autonomy and agility, a corporate venture is best led by a founder team that drives the growth of the venture. Corporates actively lean in to provide assets and resources as unique advantages that allow the venture to scale faster than a typical start-up would.
No, EDB New Ventures will assess your application before confirming your eligibility for grant funding. Refer to the ‘Application Criteria’ section.
Yes, the second edition of the Corporate Venture Launchpad will be open to companies that 1) are new to or early in the venturing journey and/or 2) intend to pursue multiple ventures in different opportunity areas.
Email us at new_ventures@edb.gov.sg
