CapitaLand has signed a partnership with the Singapore Economic Development Board (EDB) worth SG$10million. This will culminate in a programme called CapitaLand ELEVATE, which aims to upskill CapitaLand’s staff in areas such as digital marketing, data analytics and digital product management.
It will also explore new technologies that will enable CapitaLand to create people-centric products, services and experiences. This is part of CapitaLand’s “two-pronged approach” to enhance its strategic capabilities. This is by building depth internally through training and test-bedding, while building breadth externally through partnerships and corporate venture networks.
According to Beh Swan Gin, chairman of the EDB, CapitaLand will also look to co-create a spectrum of new products and services with external partners through the programme.
“This is aligned with EDB’s effort to support Singapore-based businesses to strengthen their digital competencies and leverage the growth opportunities brought about by digitalisation,” Beh added.
In addition to building its internal capabilities, CapitaLand’s corporate venture arm, C31 Ventures (C31V), has also invested SG$10 million in start-ups. Its portfolio companies include omni-channel retail enabler Ace Turtle, customer insights platform Mobikon, coworking operator The Great Room and online table reservation company Chope. 18 proptech initiatives have also been started at CapitaLand properties since C31V was set up in July 2016.
C31V has also been selected as one of SGInnovate’s co-investment partners under the “Startup SG Equity” scheme. This will see SGInnovate managing a portion of the funds under this scheme, which involves identifying and co-investing in deep tech start-ups. These start-ups can focus on technologies such as artificial intelligence, cybersecurity and blockchain.
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