Temasek Capital Launches inCube
The press release states, “Temasek Capital announced that it has launched “inCube”, an innovative incubation programme aimed at helping and supporting startups, early stage and established technology companies bring their products and services to world markets. To be marketed under the brand name “inCube”, the programme will leverage on Temasek’s extensive network of companies and global business partners to offer incubatees a unique combination of seed funding, network support, facilities, management support and branding.
2 Mr Tan Soo Nan, Chief Executive Officer of Temasek Capital, explained, “We want to capitalise on the strong growth in R&D activities in Singapore as well as in other parts of the world. inCube is not just mere physical space. It allows the incubatees to interact with a suite of complementary services and affinity partners, ranging from financial management support to marketing, human resources and research institutes. What sets inCube apart from other incubators is our ability to offer incubatees access to global markets, particularly China and India, through our network of incubator facilities. inCube is therefore well-positioned to transfer new technology and business concepts into Singapore, and help Singapore companies accelerate their growth and expand globally.”
3 inCube is actively developing a global network of incubator facilities to foster synergies, and has set up three centres in three technology cities in Asia – Singapore, Chennai (India) and Shenzhen (China). There are plans to link inCube with some of the leading incubators in other technology cities in Australia, Europe, Japan, Korea and the United States.
4 For a start, inCube has signed on two incubatees: eGurkha and Bijitec. eGurkha is a software company that has developed a suite of monitoring applications which helps e-businesses to improve the reliability and responsiveness of their web sites through effective and proactive monitoring. eGurkha, which was originally based in India, is now headquartered in Singapore with subsidiaries in India and USA. inCube has made an equity investment of S$7 million in eGurkha.
5 Mr Srinivas Ramanathan, CEO of eGurkha said, “inCube, with the strong Temasek brand name behind it, will contribute significantly towards our initial marketing efforts in Singapore and the rest of Asia. Once we have developed a strong foot hold in Asia, we can then penetrate the US market with our superior features and competitive pricing.”
6 Bijitec, into which inCube has invested S$2 million, specialises in software products that enable handwritten messages to be edited and transmitted via a variety of platforms, such as personal computers, PDAs and mobile phones, including via short messaging service (SMS) on mobile phones. Bijitec’s software is especially suited for ideographic languages such as Chinese, Japanese, Korean, and other Asian and Mid-Eastern languages. Bijitec has signed a co-operation agreement with ZTE, a leading telecommunications company listed on the Shenzhen stock exchange in China. Under the agreement, ZTE will incorporate Bijitec’s software in its new range of mobile phones to be launched in 2001.
7 Mr Dave Chen, CEO of Bijitec commented, “Our target customers are the telecommunications and IT companies. With inCube and Temasek Capital as our partner, we will be able to leverage on their strong global network of telecommunications and IT industry players. This is a great boost to our growth prospects.”
About Temasek Capital
8 Temasek Capital is the direct investment arm of Temasek Holdings. Temasek Capital seeks investment opportunities around the world. Its focus is on traditional private equity opportunities, as well as early to mid-stage technology and life sciences related investments. Temasek Capital aims to be the investor of choice for companies in Singapore and overseas.”
Read more: Temasek Holdings
Contact the writer or creator of this article or page.
Questions or comments: support(at)swfinstitute(dot)org
Follow on Twitter at @swfinstitute and @sovereignfunds
Learn, Attend and Network: Institutional Investor Events and Summits
Go Back: HOME: Sovereign Wealth Fund Institute