DeClout Investments has launched an incubator programme to groom startups from the Information and Communication Technology (ICT) sector in Singapore.
According to the company, the incubation programme is aimed at early-stage startups in the fintech, cybersecurity, data analytics and smart logistics fields as these are the key areas with potential for disruptive innovation.
DeClout will mentor and assist startups under the programme in terms of product development, proof-of-concept, commercialisation and subsequent fundraising.
The incubator programme is supported by SPRING Singapore's Startup SG Accelerator scheme. This builds on the momentum from the S$10 million venture capital fund committed by the National Research Fund (NRF) in May 2016 to co-invest with DeClout in ICT starts in Singapore.
"We are honoured to have the opportunity to groom local ICT startups and receive the support from SPRING Singapore. With our proven abilities in accessing global markets, scaling through merger and acquisition and fundraising, we will continue to help entrepreneurs in their startup journey," said Vesmond Wong, Chairman and Group Chief Executive Officer, DeClout. "Having walked the path of an entrepreneur ourselves, we are committed to imparting our knowledge and expertise to the next generation in Singapore."
Ted Tan, Deputy Chief Executive, SPRING Singapore, said: "We are happy to support DeClout in its incubation efforts to help startups develop innovative products and go to market more quickly. This is aligned with SPRING's aim to encourage more corporations to take the lead in aiding the growth of startups in Singapore. With DeClout's track record of successfully scaling businesses into global players, we look forward to its progressive role in enhancing our startup ecosystem."
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