Corporate venture arm of YCH Group and the National Research Foundation will co-invest in logistics and supply chain start-ups, offering them access to knowledge, infrastructure and mentorship
Singapore, 17 May 2016 -YCH Group, Asia Pacific's leading integrated end-to-end supply chain management and logistics partner, announced that it has launched Supply Chain Angels (SCA), its corporate venture arm. Co-invested by National Research Foundation (NRF) under the Early Stage Venture Funding Scheme III (ESVF III), SCA invests in startups that are synergistic and complementary to YCH's supply chain and logistic business with the aim of "Creating Unicorns in the Supply Chain". Through SCA, YCH Group will invest S$10 million with NRF providing funding support on a 1:1 matching basis.
SCA will be focusing its investment in the following areas:
The startups will be encouraged to locate in Asia's first and only supply chain venture space: Supply Chain City™. Home to 10,000 square feet of startup innovation with over 2 million square feet logistics ecosystem housing logistic operations of numerous MNCs and training of supply chain professionals, Supply Chain City™. Is located in the heart of the Jurong Innovation District.
"YCH is committed to contributing to the growth of the supply chain start-up environment by equipping its players with the right technical, operational and knowledge capabilities. We look forward to the creation of innovative products that can be scaled and used in Singapore and other countries," said Dr Robert Yap, Executive Chairman of YCH Group and Chairman of SCA.
Companies selected in the early stage will have direct access to industry, start-up and management expertise of companies such as Accenture, Golden Gate Ventures, and Dell, Rolls Royce, as well mentorship from industry veterans working with YCH and Y3 Technologies on topics such as operational feasibility, implementation, Industry knowledge, and potential customer contacts.
Mr James Ong, Investment Committee Member of SCA said, "We look forward to work closely with NRF to monitor the changing landscape of the Supply Chain and Logistics industry and identify early stage companies with high growth potential and a technology focus that would fit into the supply chain ecosystem which YCH is developing within Supply Chain City™. The ecosystem will offer not just the best in knowledge and expertise but also provide a platform for startups to test bed new and innovative ideas. The community will also offer start-ups easier access to potential customers, the right mentors and opportunities to embrace ideas and disruptive technologies."
About YCH Group
Founded in 1955 and headquartered in Singapore, YCH Group is the leading end-to-end supply chain solutions partner to some of the world's largest companies and favourite brands across the Asia Pacific region. Its suite of innovative award-winning end-to-end supply chain management solutions - Intribution™, Intrabution™, Retrogistics™ - employ cutting edge web-technologies that are best-in-class across industry clusters from consumer and electronics to chemical and healthcare, to deliver powerful competitive advantages for customers. A strong proponent of innovation, YCH is recognized for its 7PL™ approach in seamlessly integrating supply chain strategy with execution. As an extended family enterprise, YCH was awarded the May Day Model Partnership Awards 2014 for embracing diversity, encouraging continuous learning and the creation of a productive, resilient and sustainable workforce.
For further information, please visit www.ych.com
About Supply Chain Angels
Supply Chain Angels (SCA) is the corporate venture arm of YCH Group. SCA invests in startups that are synergistic and complementary to YCH's supply chain and logistic business with the aim of "Creating Unicorns in the Supply Chain". SCA will invest in logistics and supply chain start-ups that have high growth potential with a technology focus in areas such as the "Uberisation" of Logistics ,the Internet of Things (IoT), 3D printing, Big Data, Robotics and FinTech.
For further information, please visit www.scangels.com.sgback