Singapore wants co-investors to pump $112M into deep tech startups

Singapore is seeking co-investors from the private sector with the goal to plow up to SG$150 million into its early-stage, deep tech startup community. It hopes to identify 10 to 15 such partners and target startups in three key sectors including health and biomedical sciences. 

Led by Enterprise Singapore’s investment arm Seeds Capital, the initiative will tap funds from the Startup SG Equity scheme, under which the government may invest in funds or work with qualified third-party investors to make direct co-investments into eligible startups.

With the new call-for-partnership, Seeds said in a statement Thursday it aimed to refresh and diversity its current pool of 30 co-investment partners across the three deep tech sectors, including advanced manufacturing and engineering as well as urban solutions and sustainability. These market segments were aligned with the country’s Research, Innovation, and Enterprise 2020 (RIE2020) Technology Domains, which aimed to boost Singapore’s research capabilities and

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GoPik Raises Funding From Private Investors In Singapore And India

The company’s aim is to boost its rural distribution through an online and offline network

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India’s rural engagement network GoPik Connect Pvt. Ltd announced on Wednesday it has raised seed round funding of an undisclosed amount from private investors.

The seed round funding will support the company’s growth ambitions, ability to ever expand the engagement network, and further develop the existing network at the grass-roots level.

The company aims to make all kinds of goods and services available at every nook and corner of the country by connecting people with people.

“The team and I are really excited to have the support of our

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Equinix plans fifth Singapore data centre as cloud demand climbs

Equinix has unveiled plans for a fifth data centre in Singapore, as it looks to meet increasing demand for cloud services amidst accelerated digital transformation efforts. Slated to launch in the first half of 2021, the new site will boast an initial capacity of 1,300 cabinets and investment of $144 million in the first phase. 



a tall building


© ZDNet


The data centre also will offer 18,400 square feet of colocation space and, at full capacity, is targeted to house 5,000 cabinets and a total colocation space of almost 129,000 square feet. To be called SG5, the new nine-storey building will be located in Tanjong Kling, formerly known as Data Centre Park, and will be directly linked to Equinix’s four other sites via dark fibre links. 

The announcement comes months after the data centre operator opened its fourth local facility earlier this year, with an initial investment of $85.3 million. Equinix runs 46

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Singapore gives non-banks access to e-payment platforms

Eligible non-bank financial institutions in Singapore soon will have direct access to the country’s retail payment platforms, PayNow and FAST, which will enable e-wallet users to make funds transfers between bank accounts and across different e-wallets. Most e-wallets currently can be topped up only via credit or debit cards and funds cannot be transferred between e-wallets. 

To plug this gap, a new API (application programming interface) payment gateway has been developed under guidelines from the Singapore Clearing House Association (SCHA) and Association of Banks in Singapore (ABS), both of which govern FAST and PayNow, respectively. The API is designed to better fit the technology architecture of banks and non-bank financial institutions, according to industry regulator Monetary Authority of Singapore (MAS). 

FAST, or Fast and Secure Transfers, is an electronic funds transfer service that allows real-time funds transfers, in Singapore dollars, between entities, while PayNow — running on top the FAST

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Australia and Singapore to Trial ‘Paperless’ Trade Using Blockchain Technology

The Australian Border Force (ABF), the country’s customs and border protection agency, wants to simplify cross-border trade with Singapore using blockchain technology.

Under the Australia-Singapore Digital Economy Agreement (DEA), a blockchain trial was launched this week in an attempt to make it easier for businesses to digitally exchange trade documentation, per an ABF announcement on Wednesday.

In collaboration with Singapore Customs and the Singapore Infocomm Media Development Authority (IMDA), the blockchain trial aims to reduce administration costs and increase trade efficiency. Specifically, it will test digital verification platforms across both the ABF’s intergovernmental ledger and IMDA’s TradeTrust platform for sharing electronic documents, primarily certificates of origin.

Related: Australian Investment Group With Billions in AUM Starts Investing in Bitcoin Futures

“This initiative will incorporate paperless trading and secure digital exchange of trade information as part of the future architecture and design of an Australian Trade Single Window,” said ABF Commissioner Michael

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Hong Kong, Singapore bubble delay highlights hurdles to travel recovery

SINGAPORE (Reuters) – A delay to Asia’s first travel bubble between Hong Kong and Singapore has hit the shares of their flag carriers and highlighted the challenges facing the global travel industry as it tries to rebound from the pandemic.

FILE PHOTO: Cathay Pacific employees, wearing masks against COVID-19, are seen behind counters with glass dividers at Hong Kong International Airport, China October 20, 2020. REUTERS/Lam Yik

The arrangement was postponed on Saturday, one day before it was due to launch, after Hong Kong reported a jump in coronavirus cases. Authorities and aviation experts have said the bubble would provide a blueprint for quarantine-free travel before a vaccine is widely available.

“There is no doubt that there are many challenges around it,” said Singapore hotelier Marcus Hanna, who had taken bookings from Hong Kong tourists and hopes for similar arrangements with major markets like mainland

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Singapore investigating claims Muslim app developer sold user data to US military

Singapore is investigating claims that local-based mobile app, Muslim Pro, has sold “granular location data” to the US military. Clocking more than 98.5 million downloads worldwide, the popular prayer tracking app has denied the allegations, saying it shares only anonymised data with its partners.

The Personal Data Protection Commission (PDPC) confirmed it was investing the allegations and had asked for more information from the developer of Muslim Pro, Bitsmedia. The regulator told local media: “We remind users to also be mindful of the type of permissions and personal data they provide and how it may be used. If in doubt, users should not download or use any application.”

Founded in 2009, the Singapore-based Bitsmedia has offices in Malaysia and Indonesia. Its Muslim Pro app tracks prayer times and shows the direction to Mecca, amongst other features, and has been downloaded by users across 200 countries, according to its website. 

Earlier

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Six new members join Emerging Stronger Taskforce, including from labour, sustainability and medical sectors, Singapore News & Top Stories

SINGAPORE – Six new members have been appointed to the task force charting the direction of Singapore’s economic recovery post-Covid-19, to bring in new perspectives as the team explores new areas of growth opportunities.

The newcomers to the Emerging Stronger Taskforce (EST), which will now have 23 members in total, include Ms Jessie Yeo, executive secretary of the Singapore Port Workers Union and human resource director of the National Trades Union Congress.

“The work of the EST is important as it will have a direct impact on our workers and the skills that they will need, to thrive in the future economy. I look forward to building on the work of the EST and the Alliances for Action (AfAs) to strengthen this perspective on jobs and skills,” she said at a press conference on Thursday (Nov 19).

The AfAs are industry-led coalitions tasked to devise ideas and generate new jobs

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With Singapore emerging as space technology hub of Southeast Asia, we talk to scientists, inventors and ‘astropreneurs’ in the Lion City



a man wearing a suit and tie: Surya Shanmugam (left) and Jacob Tang of Starfleet, the winning team of the 2020 Singapore Space Challenge. Photo: Scott A. Woodward


Surya Shanmugam (left) and Jacob Tang of Starfleet, the winning team of the 2020 Singapore Space Challenge. Photo: Scott A. Woodward

With Elon Musk’s SpaceX shuttling Nasa astronauts to the International Space Station and Virgin Galactic planning to begin commercial flights next year, space has never been more accessible.

For the business-minded, it’s never had more commercial potential. Around US$3.25 billion was invested in space start-ups in 2018, while a 2020 report by Morgan Stanley predicted the space economy could be worth up to US$1.1 trillion by the 2040s.

Space was once the exclusive domain of superpower space agencies, but now entrepreneurs and tech-savvy start-ups are pushing the extraterrestrial boundaries.

Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China.

The space industry is opening up new frontiers in Southeast Asia, with Singapore fast emerging as a regional hub for a growing

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Singapore School of Science and Technology and Ngee Ann Poly to launch Integrated Diploma Programme, Parenting & Education News & Top Stories

SINGAPORE – The Singapore School of Science and Technology (SST) and Ngee Ann Polytechnic (NP) will be launching a pilot Integrated Diploma Programme (IDP).

It is for students who are strong academically and display an aptitude in applied Science, technology, engineering, as well as mathematics (Stem). They must also want to pursue a polytechnic education.

Under the programme, students from SST will progress directly to a Stem course in NP without having to sit the O levels.

The IDP was announced by Education Minister Lawrence Wong on Tuesday (Nov 17) at SST’s 10th anniversary celebrations, which was held virtually.

SST is a specialised independent school that offers a four-year secondary O-level programme, with a focus on applied learning in the fields of science, technology, engineering, aesthetics and mathematics.

The applied learning approach is to connect theoretical concepts to real life applications.

There are three other specialised independent schools in Singapore

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