ST Engineering establishes $200 mil VC unit and an engineering-based incubator

SINGAPORE (July 25): ST Engineering has announced two new initiatives as part of its efforts to reinforce its position as a technology and engineering leader by the means of “championing open innovation in an increasingly dynamic and competitive global business landscape”.

In its first initiative, the group has set aside US$150 million ($200 mil) for its corporate venture capital (VC) unit to scout for and invest in early stage companies and technology startups that are developing new technologies or creating innovative solutions complementary to the group’s strategic capabilities in higher growth areas – such as in the areas of robotics and autonomous technology, data analytics and cyber security.

Scouted startups will be able to integrate into the group’s ecosystems for broader business capabilities to compete globally as well as tap on the group’s technological expertise, says ST Engineering in a press release on Tuesday.

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