Singapore

About the Innovation and Startup Desk in Singapore

Intro about the Desk, its mission and activities

Innovation desk in general is an initiative by ICE aka Italian trade agency for assisting the highly innovative Italian startups in expanding its business in domestic and offshore markets.

The placement of the innovation desks is in accordance with the importance of the cities and its close vicinity to the foreign investors for attracting investments towards the Italian startups. Apart from attracting investments; the innovation desks are involved in other innovative activities towards attracting Italian investment in the host countries for most happening initiatives by the country’s respective governments.

 

IFC, a World Bank outfit, said it has invested US$2 million in Singapore-based venture fund SeedPlus to support early stage technology entrepreneurship in Asia.

SeedPlus was launched by venture capital firm Jungle Ventures to invest in Asian technology startups. It invests S$500,000 to S$1 million in each firm.

SeedPlus has invested in Moglix, an Indian e-commerce platform specialising in the maintenance, repair and operations industry, and Mimetic.ai, a Singaporean technology startup that created Evie, an artificial intelligence scheduling assistant.

IFC has previously committed US$10 million to Jungle Ventures' second fund, along with a US$10 million co-investment vehicle, which will invest in early stage technology companies in emerging markets of South-east Asia.

The article was first published on The Business Times on 17 March 2017.

AH

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