SGInnovate has put $40m into deep-tech firms since inception

SGInnovate's founding chief executive Steve Leonard says that besides nurturing start-ups, the government-owned venture firm, set up almost three years ago, has also built up a 30,000-member deep-tech community. PHOTO: SGINNOVATE
SGInnovate's founding chief executive Steve Leonard says that besides nurturing start-ups, the government-owned venture firm, set up almost three years ago, has also built up a 30,000-member deep-tech community. PHOTO: SGINNOVATE

The 70 start-ups have gone on to draw $450m of funding from the market, says venture firm's chief

Government-owned venture firm SGInnovate has racked up an impressive strike rate since its inception almost three years ago.

The firm has invested $40 million in around 70 local and foreign deep-tech start-ups, which have also gone on to attract $450 million of funding from the market, said SGInnovate founding chief executive Steve Leonard.

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A version of this article appeared in the print edition of The Straits Times on October 14, 2019, with the headline 'SGInnovate has put $40m into deep-tech firms since inception'. Print Edition | Subscribe