December 3, 2012

Golden Gate Ventures forms Strategic Alliance For Asian Startups

Venture Capital firm Golden Gate Ventures and JFDI.Asia have announced a new strategic alliance that will focus on supporting early-stage digital startups, according to a report in TechCrunch. The program will include intensive mentoring from both early-stage funding specialists to help companies gain market traction.

Golden Gate Ventures has offices in Singapore and San Francisco operates a seed investment program for digital start-up companies that have already launched. Based in Singapore, JFDI.Asia’s accelerator “bootcamp” program takes teams of entrepreneurs from idea to investment in 100 days.

Golden Gate Ventures co-founders Vinnie Lauria, Jeff Paine and Paul Bragiel have joined JFDI.Asia’s bootcamp as mentors. Lauria said in a joint statement that “the next billion people are coming online in our region. It’s a huge opportunity and an equally huge pool of talent in the region is set to make the most of it.” Hugh Mason, co-founder of JFDI.Asia, said that he hopes the partnership will be “the first of several alliances with key partners across the region who share our ambition to support the coming generation of digital success stories across Asia, for Asia.”

Filed under Asia, Singapore, Venture Capital by

December 13, 2007

UPEK to invest $100 million for “Center of Excellence” in Singapore

Emeryville, California -based biometric technology firm UPEK is committing some S$100 million to strengthen its presence in Singapore. According to ChannelNews Asia, it plans to build a centre of excellence here and use its base in Singapore to drive global growth.

UPEK was awarded the International Headquarters Award by the Economic Development Board on Wednesday. The International Headquarters Award is given to foreign companies in recognition of their contributions and commitment to Singapore. UPEK has been in Singapore for more than two years, and it is pumping $100 million over the next 10 years to grow its presence here. This includes building a centre of excellence. Alan Kramer, President and CEO, UPEK, said: “The other thing that will be new for us is, because of our plan with the new IHQ, we will be establishing our first offshore hardware R&D and IC design teams here in Singapore. “And we see Singapore (as) being an increasingly important area for us here and in the future (in terms of) research and development programmes…” Singapore currently accounts for 25 percent of UPEK’s headcount, but this is expected to increase. The company has 120 employees worldwide, with offices in California, Prague, Beijing, Taipei and Singapore. UPEK is seeking to tap into the booming biometrics industry.

Mr Kramer said: “The overall biometrics business continues to be a very high growth market. I think there are forecasts that indicate that it is growing at roughly 40 percent year over year, and is expected to continue (at) that level of growth at least till the end of the decade. “And that growth has been very much part of the success that UPEK has enjoyed since we formed the company a little less than four years ago.” The global biometrics market is projected to almost triple over the next three years to US$5.7 billion in 2010.

Filed under Information Technology, Singapore by

June 19, 2007

Singapore May Take Minority Stake in La Jolla Hyatt

If a joint venture agreement becomes final in the third quarter, as expected, a real estate investment company connected to Singapore’s government will become a minority owner of the posh, 419-room Hyatt Regency La Jolla at Aventine, according to the San Diego Business Journal.  Strategic Hotels & Resorts of Chicago announced recently that it has entered into an agreement with GIC Real Estate Pte. Ltd., the real estate investment company of the Government of Singapore Investment Corp. Pte. Ltd., to acquire a 49 percent interest in two of Strategic’s hotels, the Hyatt Regency La Jolla and 792-room InterContinental Chicago. The transaction is valued at $450 million.

Filed under Mergers and Acquisitions, Singapore, Travel and Tourism by

May 2, 2007

Oakland non-profit to host Buddhist film Festival in Signapore

“For the first time ever, the International Buddhist Film Festival will be held in an Asian country. The festival starts May 17 in Singapore. Organized by the Asian Buddhist Film Festival in conjunction with the Buddhist Film Society, an Oakland, California-based non-profit, the festival will span four days. The festival “presents, archives and preserves Buddhist-themed and -inspired cinema of all kinds: features documentaries, animation, experimental work, children’s films and television programs,” according to the event’s Web site. Kicking off with “Shower,” a 1999 Chinese film, the festival will showcase films from nine countries. Buddhist-themed episodes of “The Simpsons” and “King Of The Hill” will be screened.”

Filed under Media and Entertainment, Singapore by

Made with an easy to customize WordPress theme • Blues skin by TechieCoach