SINGAPORE: A new S$10 million programme will support large and established Singapore companies in venturing into new growth areas beyond their existing core businesses.
Four venture studios have been appointed: BCG Digital Ventures, FutureLabs Ventures, Leap by McKinsey and Rainmaking. As they pursue opportunities in new sectors, these ventures hold the potential to become a growth driver for the Singapore economy, he said. "These corporate ventures will complement our vibrant start-up ecosystem, to create exciting job opportunities and new entrepreneurial career pathways in Singapore," said Dr Beh.Under the programme, a small team will support each participating company by undertaking"concept validation sprints" to collect customer insights, test the desirability of business concepts and determine viability before building the product or service for the new venture.
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