NRF to put up S$85m VC funds jointly with CapitaLand, DeClout, Wilmar, YCH

Singapore

LARGE local enterprises (LLEs) are waking up to the idea of startup energy. CapitaLand, DeClout, Wilmar and YCH said on Tuesday they will partner the National Research Foundation (NRF) to jointly invest up to S$85 million in Singapore-based tech startups.

While it will be a challenge to bridge the two cultures, the combination of an innovative startup and a resourceful corporate will be powerful, and will create good jobs and value for the economy, observers said.