 |
Mach49 appointed as a venture studio of the Corporate Venture Launchpad, a programme by the Singapore Economic Development Board
SINGAPORE and REDWOOD CITY, Calif., Oct. 1, 2021 /PRNewswire/ -- Today, Mach49, the growth incubator for global businesses, announced its appointment as a venture studio on the Singapore Economic Development Board's (EDB) Corporate Venture Launchpad (CV Launchpad). The CV Launchpad is a S$10 million pilot programme designed to help large, Singapore-based companies build new ventures in growth areas beyond their existing core businesses. It was established by EDB New Ventures, the corporate venture building arm of EDB, to advance the venturing ecosystem across companies in Singapore.
"Mach49's appointment as a venture studio underscores EDB's trust in our experience with Global 1000 companies and our unique approach to the venture building process — we're focused exclusively on execution and have a robust, scalable, and repeatable method for bold, game-changing venture creation. If companies want to disrupt before they're disrupted, it's imperative that they build their own Growth Engines, capitalizing on their resources, ideas, talent, and customer base to beat start-ups at their own game," said Linda Yates, Founder and CEO of Mach49.
As an appointed venture studio, Mach49 will partner with large and established Singapore-based companies to incubate fresh business ideas with the speed and nimbleness of a start-up, while leveraging the unique competitive advantages of its parent company. The result is a pipeline of ventures that generates meaningful growth and continues to propel Singapore forward as a global business hub. Mach49 is established in the region with an office in Singapore and a growing base of APAC clients, including TDK Corporation; Schneider Electric; Mitsubishi Electric; Hitachi; LIXIL; among others.
"Asia's large corporates are uniquely positioned to produce the region's next generation businesses — Mach49's methodology, pace, connections, and team of successful entrepreneurs, VCs, and C-Suite executives can help create them. Mach49's global team has collectively created over $50 billion in market value in companies we have invested in, created, managed, or built. With a wealth of experience under one roof, we not only understand how to design and manage world-class venture factories producing multiple ventures, but we are devoted to refining the art and science of the venture-building process," added Amos Manasseh, Mach49's Head of Venture Building and Delivery, APAC.
"Our partnership with venture studios is integral to the Corporate Venture Launchpad, as they bring best-in-class expertise and experience in ideation, incubation and venture-building. By tapping on the capabilities of our appointed venture studios like Mach49, participating corporates can build new ventures and scale them to become globally competitive businesses from Singapore. We welcome Mach49 as a valued partner on this programme, and look forward to building new ventures together," said Mr Choo Heng Tong, Executive Vice President, New Ventures and Innovation, EDB.
With a 100 percent focus on execution and a 90 percent success rate, Mach49 has incubated over 50 businesses globally, empowering companies to create new markets, new categories, and new products by helping them build and launch ventures generated from within, do corporate venture investing, engage in strategic partnering with start-ups, and augment their venture building with startup-company M&A. In Singapore, Mach49 is currently supporting Schneider Electric's incubation vehicle, which has already incubated three ventures. Mach49 also designed a new corporate venture fund for 86-year-old company, TDK. Since launching in 2019, TDK Ventures has had three exits and recently closed its second fund for $150 million, which is triple the size of TDK Ventures' first fund.
About Mach49
Mach49 partners with global businesses to disrupt markets and create new growth opportunities. Mach49 focuses on execution, with a unique approach to venture building and investing fueled by decades of Silicon Valley operating experience and success. Mach49 was founded in 2014 by Linda Yates and is based in Silicon Valley, with offices in Singapore, London, Amsterdam and Boston. Learn more about Mach49 at www.mach49.com.
Logo - https://mma.prnasia.com/media2/1082800/Mach49_Logo.jpg?p=medium600
