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| Monday, 24 April 2017, 15:30 HKT/SGT | |
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Source: DeClout Ltd | |
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- DeClout's new incubator will nurture local startups in financial 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 |
SINGAPORE, Apr 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 visit www.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 visit www.spring.gov.sg for more information and news about SPRING Singapore.
For media enquiries, please contact:
Carol Huang
DeClout Limited
Tel: +65 6818 1833
carol.huang@declout.com
Chong Yap TOK / James BYWATER
Financial PR Private Limited
Tel: +65 6438 2990
declout@financialpr.com.sg
This news release has been prepared by the Company and its contents have been reviewed by the Company's sponsor, SAC Advisors Private Limited ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST").
The Sponsor has not independently verified the contents of this news release. This news release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this news release including the correctness of any of the statements or opinions made or reports contained in this news release.
The contact person for the Sponsor is Ms Lee Khai Yinn (Tel: +65 6532 3829) at 1 Robinson Road, #21-02 AIA Tower, Singapore 048542. SAC Capital Private Limited is the parent company of SAC Advisors Capital Private Limited.
Topic: Press release summary
Source: DeClout Ltd
Sectors: Daily News, Blockchain Technology, PE, VC & Alternatives, Digitalization
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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