The government’s decision to set aside S$285 million more to match private investments in promising startups has been very timely to support young companies amidst the Covid-19 crisis, which has led to a host of challenges including difficulties in getting bank loans.
- S$285 million to be deployed by SEEDS Capital and EDBI to catalyse startup investments.
- Startups can use the SGUnited Traineeship scheme to build their talent bases.
With the current economic outlook, investors have turned more cautious and are prioritising supporting portfolio companies, said Vihang Patel, Co-founder and CEO of Finaxar. More government support for co-investments will help the community, he added.
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As published on: The Business Times