THE Trendlines Group, an Israel-based medtech incubator listed on the Singapore Exchange (SGX), has received a shot in the arm of up to S$2.2 million from Spring Singapore.

The grant that its subsidiary Trendlines Medical Singapore will receive from the enterprise development agency of the Singapore Ministry of Trade and Industry is for the unit to invest in and nurture medical technology (medtech) startups. It comes under the Incubator Development Programme.

But while the financing - the first that the group is receiving from the agency just more than a year after its listing here - attests to the strong local support for its incubation programme and an increasing focus on medtech as a sector, Trendlines' share performance since its November 2015 flotation has not been encouraging for the company.