PROPERTY developer Sinarmas Land has formed an investment arm, Living Lab Ventures, to fund Indonesian startups, the mainboard-listed company said in a bourse filing on Monday (Jun 27).

Living Lab Ventures will focus on 3 key verticals: technologies related to smart city living, digital life - which includes e-commerce and social networking - and mobility solutions for both people and goods. Living Lab will also provide mentoring for startup leaders.

Sinarmas has also set up Living Lab X, an incubator for startups that will offer partnerships with related companies and pilot testing.

“Indonesia’s smart city exponential growth potentials are increasingly being noticed... Living Lab Ventures wants to support local startups to unlock their potential and become the game-changers by integrating their tech innovation and solutions into the people’s daily lives,” said Mulyawan Gani, managing partner of Living Lab Ventures.

Shares of Sinarmas Land closed at S$0.21 on Monday, up S$0.01 or 5 per cent.