Microsoft, Temasek join forces to aid start-ups
SINGAPORE investment company Temasek is partnering tech giant Microsoft to build and develop start-ups.
Temasek and six of its portfolio companies have joined the Microsoft Accelerator programme as official global network partners in the technology and innovation hubs of Seattle, Berlin, Tel Aviv and Bangalore.
The companies involved are: real-estate developers CapitaLand and Ascendas, venture lending platform InnoVen Capital, cyber-security provider Quann, engineering group ST Engineering, and investment company Fullerton Financial.
Temasek and its portfolio companies have identified urban solutions, Internet of Things, artificial intelligence, fintech, cyber security, healthcare IT and digital media as key focus areas.
"(The programme) offers partnering opportunities between promising start-ups and our portfolio companies to provide innovative solutions to operating pain points and enhance customer experience," said Ong Beng Teck, the managing director of Temasek's Enterprise Development Group.
"For the start-ups, this provides them with the opportunity to work with established companies to pilot and validate their products and technologies," he added. "This is therefore a win-win partnership."
CapitaLand's chief corporate development officer, Ng Kok Siong, said the company will explore investments into start-ups that complement its business, from design and construction, operations and maintenance, sales and leasing, customer engagement, to workplace productivity and smart living solutions.