DBS pumps S$10m to boost nascent startups

Singapore

DBS Bank will invest S$10 million in programmes targeted at nascent startups out of Singapore, to draw more entrepreneurs out of their corporate suits, and into startup gear, said a senior executive on Friday.

The bank announced that the investment over a five-year period will go towards partnerships with accelerators, among other startup programmes. These funds are on top of the S$200 million that the bank committed last year to spend up until 2017. It also goes beyond support to fintechs.