Call for Corporate Venture Launchpad (CVL) 3.0 Partners

Deadline: 28 June 2024

EDB is looking to appoint Venture Studio and Open Innovation (OI) Partners for CVL 3.0.

Partners will work with established multinational companies, large local enterprises, regional family businesses and high growth companies in Singapore to drive venture creation and startup partnerships.

EDB is the catalyst for the vibrant corporate venturing community in Singapore. Since the launch of the Corporate Venture Launchpad (CVL) in 2021, they have been the trusted partner for companies to grow beyond their core businesses by building new, exciting ventures.

The latest version of CVL will expand from venture creation to feature support for another mode of corporate venturing – startup partnerships.

Outcomes

Venture Creation: Incubating and launching globally leading businesses out of Singapore
- Venture Studio Partners are expected to support companies to create new ventures and deliver the following key outcomes:
- Completing concept validation sprints
- Creating investible business plans by the end of the sprints, covering customer insights, market analysis, concept prototype, business model, go-to-market strategy, financial projections and resourcing plans
- Developing frameworks to guide companies’ subsequent venture creation efforts, e.g. decision and funding criteria, governance, corporate resourcing etc.
Startup Partnerships: Delivering impactful business outcomes through startup collaborations
- OI Partners are expected to support companies to institutionalise best practices for startup collaboration and deliver the following key outcomes:
  - Executing startup engagement initiatives that encompass problem statement scoping, startup scouting and selection, and pilot plan development with selected startups
  - Signing of pilot agreements between companies and selected startups
  - Establishing organisational processes and governance frameworks within companies to enable effective startup partnerships

How long will the Corporate Venture Launchpad 3.0 programme run?

Corporate Venture Launchpad 3.0 will have a fixed programme budget available on a first-come, first-served basis for eligible corporates to apply. The programme will run until the budget is fully drawn down or for two years, whichever is earlier. The programme may also be extended and/or overall grant funding may be topped up, subject to further review by EDB New Ventures.

Qualifying Criteria

Venture Studio Partners
- Venture Creation Expertise
  - Strong Singapore presence and global networks
  - Comprehensive suite of capability development offerings
  - Robust methodology to validate and launch new ventures
  - Competitive pricing models
  - High calibre people and resources dedicated to CVL projects
- Track Record
  - High success rate for launching corporate ventures via sprints
  - Strong customer testimonials and pipeline
- Community Engagement & Thought Leadership
  - Strong commitment to contributing thought leadership around corporate venture creation in Singapore
  - Ability to deliver educational or industry content, research development or run trainings and workshops
  - Experience in organising networking events or other initiatives to facilitate knowledge-sharing and relationship-building for the corporate venturing community
Open Innovation Partners
- Corporate-Startup Partnership Expertise
  - Strong Singapore presence and global networks
  - Comprehensive suite of capability development offerings
  - Robust methodology to drive effective collaboration between corporates and startups
  - Competitive pricing models
- Track Record
  - High success rate for fostering corporate-startup partnerships
  - Strong customer testimonials and pipeline
- Community Engagement & Thought Leadership
  - Strong commitment to contributing thought leadership around corporate-startup innovation in Singapore
  - Ability to deliver educational or industry content, research development or run trainings and workshops
  - Experience in organising networking events or other initiatives to facilitate knowledge-sharing and relationship-building among corporates and startups.