Corporate Venture Launchpad

EDB’s Corporate Venture Launchpad supports established companies with Singapore-based operations to innovate and grow by leveraging the advantages of startups to enter new markets, experiment with new technologies, try out new business models and create new revenue streams. Now in its third edition, CVL 3.0 features support for two modes of corporate venturing – venture creation and startup partnerships.

Under venture creation, participating companies will work with Venture Studio Partners to incubate and launch globally leading businesses from Singapore. Under startup partnerships, companies will work with Open Innovation Partners to collaborate effectively with startups and deliver impactful business outcomes.

Corporate venture creation or venture building refers to the incubation of a new business targeting a new revenue opportunity beyond the company’s existing business. It is often launched as a separate legal entity, or in some instances, created as a new business unit within a company.

To operate with autonomy and agility, the new business is best led by a dedicated, ‘founding’ team that drives the growth of the venture. Companies actively lean in to provide assets and resources as unique advantages that allow the venture or new business unit to scale quickly.

A Corporate-Startup Partnership is a collaborative relationship between a large, established company (the corporate) and a smaller, innovative company (the startup). These partnerships are formed to leverage the strengths of both entities: the corporate typically brings resources, industry expertise, and market access, while the startup offers agility, innovation, and fresh ideas.

The goal of such partnerships is to drive mutual growth and innovation. These partnerships can take various forms, such as the co-development of products to unlock new revenue streams, or adoption of innovative solutions that boost productivity and reduce costs.

Through the CVL programme, EDB provides support for companies to establish best practices and capabilities, as well as access high quality startups to enable effective corporate-startup partnerships that deliver tangible business outcomes.

No, EDB will assess your application before confirming your eligibility for programme. Refer to the ‘Application Criteria’ section.

CVL 3.0 will have a fixed programme budget available on a first-come, first-served basis for eligible corporates to apply. The programme will run until the budget is fully drawn down or for two years, whichever is earlier. The programme may also be extended and/or overall grant funding may be topped up, subject to further review by EDB.

Yes, a company may apply for both venture creation and startup partnership support under CVL. However, the company must demonstrate they can dedicate adequate resources and commitment to the venture concept validation sprints and startup partnership initiatives. Refer to the programme’s ‘Conditions and Deliverables’ section.

Yes, the CVL programme is open to companies that are (1) new to or early in their venture creation or startup partnership journey, (2) intend to pursue multiple ventures in different opportunity areas, and/or (3) want to improve their processes and capabilities in working with startups.

EDB will consider such applications on a case-by-case basis for suitability under this programme, or other support mechanisms.

No, the CVL programme is intended to support venture creation and startup partnership opportunities that are sufficiently differentiated from an existing business activity.

All applications are subject to EDB’s approval.

EDB will assess participating companies’ ventures and their startup partnerships on a case-by-case basis once they reach the venture scaling or pilot execution stage. For suitable ventures or partnerships, EDB may further facilitate linkups with relevant stakeholders in the ecosystem, such as businesses, talent or government partners for growth opportunities, investment opportunities with EDBI and its network of VCs, or other government schemes that can scale the venture or project.

Under the venture creation programme, a company is expected to create an investible business plan. Under the startup partnership programme, a company is expected to sign pilot agreements with at least 2 startups. The CVL programme may provide further support beyond these outcomes, if companies intend to pursue multiple ventures or startup partnerships. We encourage companies to discuss their needs with EDB and CVL appointed partners to understand their eligibility.

A ‘Go’ decision, or an approval from companies’ leadership to progress with defined next steps and resourcing, is at the companies’ sole discretion. As part of the programme, we require companies to make a ‘Go’ or ‘No go’ decision within 1 month of the end of project to drive speed and continued accountability.

Under venture creation, a ‘Go’ decision includes the set up of (1) a new business unit within the company or (2) a NewCo with a separate legal entity. In either case, the new business will have to be headquartered out of Singapore.

In startup partnerships, companies are required to sign pilot agreements with at least 2 startups as a CVL programme condition. Additional ‘Go’ decisions will apply when proceeding from the completion of pilots to commercial contracts.

Companies must engage an appointed Venture Studio or OI Partner to qualify for CVL support under Venture Creation or Startup Partnerships. However, if a company has demonstrated experience in corporate venturing, we encourage them to reach out to EDB. We can help assess the relevant support and resources the CVL programme can offer.