Creating Deep-Tech startups in Singapore by accelerating collaboration with private & public sectors
ICMG Pte Ltd (located in Singapore), an affiliate of the ICMG corporation has executed a contract on 15/11/2018 committing to the joint organization of the Venture Co-Creation Platform (referred to hereafter as VCC) with the Singapore-based venture building and investment company Origgin Pte Ltd.
ICMG Pte Ltd bases itself on the principle of creating “Purposeful Innovations” that are significant on a global scale, and offers open innovation services for industry leading companies. With this next step, ICMG Pte Ltd will now make large-scale efforts to launch startups by themselves.
VCC is the innovation framework to co-create the ventures together with the partners in both public and private sectors focusing on Deep-Tech (state-of-the-art science and technology) in Singapore and for large corporations to co-create business through collaborations with startups. Currently, there are agreements with the Agency for Science, Technology and Research (A*STAR), and collaboration with local universities such as the National University of Singapore (NUS). In a short span of 18 months, there has already been 21 startups launched under VCC and operations will continue to expand.
Startups launched under VCC receive a great deal of support from the Singaporean government, allowing for the possibility of rapid business development from proof-of-concept (POC) to working with the early adaptors. This represents a movement to create startups aligned towards government initiatives. In addition, large enterprises can utilize these POCs between VCC startups & public sectors for business model innovation, as well as new business development.
【Aim of Establishment】
VCC will become a platform that helps to launch purposeful startups backed by Asian and Singapore-based Deep-Tech, and realize business co creation through collaborating with large companies. VCC platform will accelerate implementation of solutions to solve serious social issues around the world through launching purpose-driven startups.
As part of its mandate, VCC will establish startups and further explore the promising field of Deep-Tech in Singapore & Asia. Startups launched under VCC, with the combined effort of Singaporean public and private sectors, will seek to partner with large companies to participate in the creation of a business POC. These co planning and implementation of POCs will result in joint development of new business models in large corporates .
The Value of VCC to Companies
Companies will not only experience acceleration in innovation of their business model and business strategy based on their strategic issue and innovation theme, they will also be able to join a network that takes advantage of the potential of Singapore as a strategic location.
- Joint development through the proactive involvement with public sector startups in their early stage
- A chance to take part in business POC opportunities created by VCC startups
- An opportunity to partake in the Singapore startup & innovation ecosystem that is supported by the government.
The way to join our VCC platform
Participate & obtain latest information on ICMG digital platforms (Facebook, Linkedin)
Participate in our innovation programs where we present collaboration opportunities with corporates & other VCC startups
The roles of companies involved with VCC