CapitaLand inks S$10m tie-up with EDB to upskill staff, test new technologies

PROPERTY developer CapitaLand has set out to accelerate its innovation push with a S$10 million programme in training and technology, done in partnership with the Singapore Economic Development Board (EDB).

Dubbed CapitaLand ELEVATE, the programme will focus on developing the company's staff in areas such as data analytics, digital marketing and digital product management. It will also explore new technologies that the firm said will enable it to create people-centric products, services and experiences.

The programme was launched on Thursday by Mr S Iswaran, Minister for Trade and Industry (Industry) and Mr Lim Ming Yan, CapitaLand's president & group CEO, at Funan Showsuite.

Besides building its internal capabilities, CapitaLand said its corporate venture arm, C31 Ventures (C31V), has invested S$10 million in startups. Its portfolio companies include omni-channel retail enabler Ace Turtle, customer insights platform Mobikon, homegrown co-working operator The Great Room and online table reservation company Chope.

18 proptech initiatives have also been piloted at CapitaLand properties since C31V was set up in July 2016.

The company said C31V has been selected as one of SGInnovate's co-investment partners under the Startup SG Equity scheme. SGInnovate will be managing a portion of the funds under this scheme, which involves identifying and co-investing in deep-tech startups focusing on technologies such as artificial intelligence, cybersecurity and blockchain.

Mr Lim said: "C31V's investments have provided us keen insights into disruptive businesses and allowed us to address them preemptively. We work together with our portfolio companies to test-bed these technologies and business models at our properties to better engage our customers and tenants, increase productivity and to scale up faster."