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A corporate venture is a new business targeting a new revenue opportunity that is outside of the corporate’s existing business. It is often launched as a separate legal entity, or in some instances, created as a new business unit within the corporate.
To operate with autonomy and agility, a corporate venture is best led by a founder team that drives the growth of the venture. Corporates actively lean in to provide assets and resources as unique advantages that allow the venture to scale faster than a typical start-up would.
No, EDB New Ventures will assess your application before confirming your eligibility for grant funding. Refer to the ‘Application Criteria’ section.
Yes, the second edition of the Corporate Venture Launchpad will be open to companies that 1) are new to or early in the venturing journey and/or 2) intend to pursue multiple ventures in different opportunity areas.
The programme is designed to support the early-stages of venture building, to validate concepts that can be built into new businesses. In some exceptional cases, you may have an early-stage venture that is in stealth and/or pre-revenue that will benefit from a concept validation sprint to review earlier assumptions and/or uncover new opportunities. EDB New Ventures will consider such applications on a case-by-case basis for suitability under this programme, or our other support mechanisms for venturing.
No, the Corporate Venture Launchpad is intended to support venture opportunities that are sufficiently differentiated from an existing business and are in another growth space.
All grant applications are subject to EDB New Ventures’ final approval.
Congratulations, we are as excited as you are! Successful validation and venture launch is just the start of the growth of the venture. Many steps await — from finding product-market fit, through to scaling of the venture.
For suitable ventures arising from the Corporate Venture Launchpad, EDB New Ventures may also invest via risk-sharing capital and/or provide further value creation support, up until the venture scales successfully. Such additional support will be subjected to a due diligence process and further discussions with the participating company.
The Corporate Venture Launchpad will have a fixed programme budget available on a first-come, first-served basis for eligible companies to apply. The programme will run until the budget is fully drawn down or for 2 years, whichever is earlier.
EDB New Ventures is catalysing a greater movement in corporate venturing from Singapore and is always looking to provide different means of supporting companies on different parts of the journey.
For suitable ventures, EDB New Ventures may invest with risk-sharing capital and/or provide further value creation support (subject to due diligence and discussions with the company) through to successful scaling of the venture.
We may also form strategic partnerships with companies to create multiple ventures from Singapore. Many companies choose to do this by setting up their venture-building units here to build a pipeline of new ventures.
Yes, each company may submit multiple applications for the Corporate Venture Launchpad grant for the concept validation sprint, if they intend to pursue multiple ventures in different areas. However, the company is expected to demonstrate strong readiness, commitment and have the capabilities in place to undertake the projects.
If the fidelity of your concept validation sprint outcome is high with founders already in place, you are in a prime position to be accelerated straight to an option for potential co-investment and value creation support from EDB New Ventures (subject to due diligence and discussions between the parties).
There are two different scenarios which could happen - 1) set up a new business unit within the company or 2) set up a NewCo with a separate legal entity. In either case, the new business will have to be globally headquartered out of Singapore.
While there are advantages to both models, we highly prefer ventures that will be set up as a NewCo. This provides a structure that can facilitate the onboarding of a true founding team for the business and gives the business real startup-like agility and autonomy. It also allows the venture to seek external fundraising at the right juncture if needed to supercharge the venture’s growth.
We understand that companies can run into additional processes from your internal and/or usual operations, while also taking on more entrepreneurial risks. This is why EDB New Ventures’ support comes to help accelerate and de-risk some of these initial hurdles for companies.
For CVL 2.0 projects, companies must be prepared to explore at least a NewCo option for the new venture, where the sprint process will go into closer analysis of whether it makes sense to create a NewCo instead of a new business unit.
If after closer analysis, the benefits of establishing your new business as a new global business unit outweighs that of setting up a NewCo, the company should choose the option best suited for the business!
Eligible companies can apply to EDB New Ventures and receive up to S$500,000 of grant funding as part of the Corporate Venture Launchpad programme. Qualifying costs supportable under the grant funding are 1) fees incurred by the company to engage a preferred appointed venture studio and 2) manpower cost for full-time employees on the sprint, on a 50% co-funding and reimbursement basis.
The company will not qualify for the Corporate Venture Launchpad grant in both scenarios. However, the company may still reach out to new_ventures@edb.gov.sg to explore other ways of collaborating with EDB.
Eligible companies can apply to EDB New Ventures and receive up to S$500,000 of grant funding as part of the Corporate Venture Launchpad programme. Qualifying costs supportable under the grant funding are 1) manpower costs for employees deployed in the build phase and 2) professional services fees incurred by the company to engage a vendor (entity registered in Singapore), on a 30% co-funding and reimbursement basis.
No, the company must complete the concept sprint with sufficient validation and fulfil all the grant conditions required in tranche 1. Only high potential ventures will be considered for tranche 2.
No, it is not necessary. Companies may decide to continue working with any of the CVL 2.0 appointed venture studios. Alternatively, they may also decide to find other vendors or build the ventures themselves without external support.
