Chennai 17th July 2001: Singapore- based Temasek Capital, the direct investment arm of Temasek Holdings, has launched inCube India, an incubation programme which is an integrated approach to providing support and added value to start-ups and early stage technology companies to accelerate their growth and penetrate global markets.

inCube India will leverage on Temasek's extensive network of companies and global business partners to offer incubatees a unique combination of seed funding, space, IT infrastructure facilities and management support. inCube will also provide incubatees with access to professional services such as legal, human resource and marketing through Temasek's affinity partners. Apart from the recognition and credibility that comes with being associated with Temasek, incubatee companies with inCube can explore business opportunities and synergistic linkages with companies in the Temasek network.

The Temasek network consists of major companies in Singapore encompassing an extensive range of industries in manufacturing, financial, logistics, telecommunications and other services, as well as investee companies in all parts of the world.

The Temasek group companies include many of the largest companies in Singapore, such as DBS Bank, Neptune Orient Lines-APL, PSA Corporation, Singapore Airlines, Singapore Power, and Singapore Telecom, among others.

Commenting on the unique proposition of inCube India, Mr. Wong Lin Hong, Managing Director, inCube Programme said, "What sets us apart from other incubators is our strategy to develop a network of incubator facilities throughout Asia. This network will be critical in helping Indian companies expand into Asian markets and for Singaporean and other incubatees to expand into India through Chennai.
inCube India will play a pivotal role in helping Indian startups and early stage technology companies to establish themselves, accelerate growth and expand globally."

"India is known for strong technology and software skills. In addition to funding, what promising incubatees need most is management expertise and commercial validation. The inCube programme fills this need-gap and will place incubatees in chosen select future technologies in the hands of Temasek, which has a track record of building and growing large corporations." added Mr. Wong.

Temasek Capital chose Chennai to launch the inCube programme in India. The 8600 sq. ft incubation centre in Chennai will be the initial window to the Temasek network for select Indian incubatees. Temasek has incubation centres in Singapore and Shenzhen, China. inCube India will link up with inCube Singapore and inCube Shenzhen to provide Indian incubatees the opportunity to use Singapore and Shenzhen as launch pads for entry into the Asia Pacific and Greater China markets respectively.

Temasek has plans to link inCube with some of the leading incubators in other technology cities in Australia, Europe, Japan, Korea and the United States.

inCube India will focus on technology start-ups and early stage companies, in the areas of

• Internet enabling software/product

• Wireless communications

• Applications Service Providers (ASPs)
• Telecommunications

• Artificial intelligence
• Embedded software

Benefits to inCube incubatees

• Management expertise of Temasek with hands-on experience with start-ups and running large companies profitably
• Access to services of internationally renowned affinity partners (in areas including HR, accounting, legal, marketing, etc.)
• Access to global markets through the Temasek network
• Funding at the high risk concept stage

Temasek is in the process of developing a global network of incubator facilities - some owned and some through joint ventures with the twin objectives of

• Fostering synergies between incubatees of one facility with that of another
• Enabling incubatees to transplant their technology or business concepts from one country to another

inCube adopts a cluster strategy to optimise the benefits of synergies. Incubatees with related and complementary products and services are housed together so that they can tap on each other's expertise and together can provide a total solution.

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About Temasek Capital

Temasek Capital is the direct investment arm of Temasek Holdings responsible for seeking investment opportunities around the world. It focuses on traditional private equity opportunities as well as early to mid-stage technology and life sciences related investments. Headquartered in Singapore, Temasek Capital aims to be the investor of choice for companies in Singapore and overseas.

Temasek Holdings is Singapore's premier investment holding company, managing the Singapore Government's investments across the Asia Pacific, Europe and the United States. It aims to nurture the group companies into dominant regional industrial leaders to provide global enterprises coming into Asia with a choice partner for business collaboration.

For more information, please visit http://www.temasekholdings.com.sg/

For further information, please contact:

Chennai, India

L. Saraswathi/ S.Prabhu
Ogilvy Public Relations Worldwide
Chennai
Tel : 852 9471/852 0677
Email: l.saraswathi@ogilvy.com 
s.prabhu@ogilvy.com

Mr. Srinivasan.H.R
Director, Temasek Capital
Chennai
Tel : 498 8749
Email: sri@temasek.com.sg