JTC to link startups to corporates, including Sea and Grab

JTC, the government agency driving sustainable industrial development, has launched an initiative to bridge the gap between corporates and the over 700 startups in JTC estates.

These startups reside at LaunchPad in one-north and Jurong Innovation District, and specialise in advanced manufacturing, biomedical, infocomm and urban solutions.

They will get a chance to connect with the 8 pioneer members of JTC’s programme, namely DeClout Ventures, Excelpoint, Grab, Hyundai Motor’s innovation arm Hyundai CRADLE, Louis Dreyfus Company (LDC), MANN + HUMMEL, PSA unboXed and Sea.

The new initiative, called LaunchPad Investor Network (LINK), was announced by Minister for Trade and Industry Gan Kim Yong at the inaugural LaunchPad TechFiesta on Friday (May 27).

Led by JTC and co-organised with the Infocomm Media Development Authority, the event is a platform for LaunchPad startups to showcase their latest innovations and technologies. A total of 40 startups demonstrated their solutions in augmented and virtual reality, drones, mobility, and smart living and robotics.

With LINK, startups can connect with corporates for investment opportunities, research and development, and to tap regional and global networks for market expansion, said JTC.

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The agency said key areas of collaboration have been identified in the emerging high-growth sectors of agrifood, fintech, logistics, urban mobility and sustainability.

“As an industrial developer, JTC plays a critical role in curating dynamic industry ecosystems to accelerate business growth in our estates,” said Alvin Tan, JTC’s assistant chief executive officer (industry cluster group).

Over the last 3 years, the LINK corporates have collectively invested over US$23 million in 8 Singapore-based startups.

In January, Sea anchored the US$6 million Series A funding round of Refract to develop wearable full-body motion-capture technology for gaming.

PSA unboXed and other corporates invested US$7 million in Haulio, a startup aiming to make port logistics more efficient by managing hauliers using technology.

In February, LDC invested in ProfilePrint, a startup developing new approaches to grading and pricing raw ingredients such as coffee beans. Aside from the capital funding, LDC is also working with ProfilePrint on potential commercial partnerships, said JTC.

“Through JTC’s LINK programme, we hope to meet and collaborate with startups working on areas, such as smart mobility, smart city, smart factory, artificial intelligence and new energy,” said David Goh, head of Hyundai CRADLE Singapore.

JTC also launched the second edition of the JTC Innovation Challenge on Friday, setting aside S$4 million to develop new solutions for the built environment sector with partners.

Shortlisted projects get up to S$250,000 in funding, and JTC provides domain expertise and access to test-bed locations in selected industrial estates or business parks.