SINGAPORE'S homegrown talent incubator Antler said on Thursday that it has invested US$2.4 million into its second cohort of startups.
The companies span across different sectors, including telecommunications, fintech and consumer technology. Out of 3,000 applications, the programme brought together 100 individuals from 22 countries. Of this, 40 founders made it into the next phase of the programme to get their company off the ground in three months.
Antler builds startups by identifying a group of aspiring entrepreneurs, matching them to form a team, and funding the team while supporting their product development and scaling efforts.
Since its first programme in Singapore in 2018, the company has generated 44 new tech companies originating from South-east Asia and the Nordics in a wide range of industries, it said.
"Antler's unique approach of grooming high-quality entrepreneurs provides valuable support at the earliest stages of Singapore's startup and venture investment landscape," said chairman of Enterprise Singapore Peter Ong, who gave the opening speech at Antler's demo day on Thursday.
The firm has presence in eight locations - Singapore, London, New York, Amsterdam, Stockholm, Sydney, Nairobi and Oslo.