SINGAPORE - Catalist-listed DeClout said on Monday (April 24) that its wholly-owned subsidiary, DeClout Investments, has launched an incubator arm to groom local start-ups in information and communication technology (ICT).
Its incubator is supported by Spring Singapore's Startup SG Accelerator scheme.
Said Spring's deputy chief executive Ted Tan: "We are happy to support DeClout in its incubation efforts to help start-ups 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 start-ups in Singapore."
DeClout, a technology solutions provider, will mentor early-stage start-ups in the areas of fintech, cybersecurity, data analytics and smart logistics - which is sees as key ICT market niches with potential for disruptive innovation. The start-ups will be helped in product development, proof-of-concept, commercialisation and subsequent fundraising.
As part of Startup SG, DeClout said it will be another important node in the Singapore startup ecosystem that marks Singapore as a destination for developing innovative ideas and scaling up start-ups.
The incubator programme builds on the momentum from the S$10 million venture capital fund committed by National Research Foundation in May 2016 to co-invest with DeClout in ICT start-ups in Singapore.
DeClout Investments was incorporated as a two-tier platform comprising incubation and fund-raising facilitation for start-ups and growth enterprise.