Incubator Programme with Support from SPRING Singapore
technology (“fintech”), cybersecurity, data analytics and smart
logistics with support from SPRING Singapore’s Startup SG Accelerator scheme
– Further exemplifies DeClout’s unique value proposition and position as a
next-generation business accelerator, following fund awarded by the National
Research Foundation (“NRF”) in 2016
24, 2017 – (ACN Newswire) – SGX-Catalist-listed DeClout Limited
(“DeClout”; SGX:DLL) announced today that its wholly-owned
subsidiary, DeClout Investments Pte. Ltd. (“DeClout Investments”),
has launched an incubator arm to groom highgrowth local startups from
Information and Communication Technology (“ICT”) sectors.
Under its incubation programme, DeClout will
mentor early-stage startups and help them in product development,
proof-of-concept, commercialisation and subsequent fundraising. DeClout will be
engaging startups in fintech, cybersecurity, data analytics and smart logistics
as these areas are key ICT market niches with potential for disruptive
innovation.
DeClout will be supported under SPRING
Singapore’s Startup SG Accelerator[1] scheme. As part of Startup SG, DeClout
will be another important node in the Singapore startup ecosystem that marks
Singapore as a destination for developing innovative ideas and scaling up
startups. This builds on the momentum from the S$10 million venture capital
fund committed by NRF in May 2016 to co-invest with DeClout in ICT startups in
Singapore. The support received exemplifies the Group’s unique position as a
next-generation business accelerator in Singapore.
DeClout Investments was incorporated as a
two-tier platform comprising incubation and fund-raising facilitation for
startups and growth enterprise. The incubation tier will focus on leveraging
the Group’s business network, domain expertise as well as industry knowledge
and know-how to create a next-generation business accelerator which can
value-add to the startups. Conjointly, the fund-raising facilitation tier will
work on initiatives with government bodies and like-minded partners to allow
greater access to financing and investments for the enterprises. The Group will
also capitalise on opportunities to capture potential value and yield synergies
within the DeClout group of companies.
“We are honoured to have the opportunity to
groom local ICT startups and receive the support from SPRING Singapore. With
our proven abilities in accessing global markets, scaling through merger and
acquisition and fundraising, we will continue to help entrepreneurs in their
startup journey. Having walked the path of an entrepreneur ourselves, we are
committed to imparting our knowledge and expertise to the next generation in
Singapore,” said Mr Vesmond Wong, Chairman and Group Chief Executive
Officer, DeClout.
Mr Ted Tan, Deputy Chief Executive, SPRING
Singapore, said, “We are happy to support DeClout in its incubation
efforts to help startups 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 startups in Singapore. With DeClout’s
track record of successfully scaling businesses into global players, we look
forward to its progressive role in enhancing our startup ecosystem.”
[1] The “Startup SG Accelerator”
scheme will replace the “Incubator Development Programme” or
“IDP” from 1 May 2017. For more information on Startup SG
Accelerator and other startup-related schemes, please visit http://www.startupsg.net.
About DeClout Limited
Led by a dynamic team of IT veterans, DeClout (www.declout.com) aims to be the leader in
next generation technology driven services in Asia, delivering innovative and
cost-effective solutions that will make us the partner of choice for leading
companies across the region. We invest in, incubate and scale companies to be
global or regional market leaders.
Listed on the Catalist Board (SGX:DLL) in 2012,
the Group operates two core business segments – IT Infrastructure Sales and
Services (“IT Infra”) and Vertical Domain Clouds (“VDCs”) –
out of Singapore, Malaysia, Indonesia, Thailand, Myanmar, India, Kenya, the
United States (“US”), the United Kingdom (“UK”) and the
People’s Republic of China.
The IT Infra segment comprises businesses in
data centre hardware and maintenance as well as telecommunications and network
solutions.
Drawing on the expertise and synergies gained
from our array of complementary IT Infrastructure Services, the Group is
capitalising on exciting opportunities through our VDCs – vibrant,
self-contained and scalable ecosystems or communities – starting with the
e-commerce and e-logistics industries. Our vision is to create diverse VDCs
that serve the needs and aspirations of different businesses and user
communities.
With comprehensive strengths across a range of
IT products and solutions that are deployed across Asia-Pacific, the US and
Europe, the Group is committed to creating long-term value and growth potential
for its shareholders. For more information, please visitwww.declout.com
About SPRING Singapore
SPRING Singapore is an agency under the Ministry
of Trade and Industry responsible for helping Singapore enterprises grow and
building trust in Singapore products and services. As the enterprise
development agency, SPRING works with partners to help enterprises in
financing, capability and management development, technology and innovation,
and access to markets. As the national standards and accreditation body, SPRING
develops and promotes an internationally-recognised standards and quality assurance
infrastructure. SPRING also oversees the safety of general consumer goods in
Singapore. Please visitwww.spring.gov.sg for more information
and news about SPRING Singapore.
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