Singapore, November 30, 2020: Taronga Ventures, Asia’s leading real estate innovation and technology investment platform, will collaborate with the recently opened Smart Urban Co-Innovation Lab led by CapitaLand. With its network of emerging technology companies focused on real estate and the wider built environment, Taronga Ventures will also introduce these partners to the Smart Urban Co-Innovation Lab.
Officially opened by Minister for Communications and Information, Mr S Iswaran on 28 October 2020, the Smart Urban Co-Innovation Lab is initiated by CapitaLand and supported by the Infocomm Media Development Authority and Enterprise Singapore to bring together leaders in the smart cities space to co-create and test innovations with local built environment and technology enterprises in a live environment at CapitaLand’s 5G-enabled Singapore Science Park.
Taronga Ventures’ extensive real estate experience and network across Asia, coupled with its innovation investment capabilities, has put it at the forefront of supporting major real estate owners and operators who are looking to: expand their platforms, identify new revenue streams, reduce costs and operate more sustainably. Through its venture capital fund and innovation platform, the group is supporting global emerging technology companies with access to capital, customers, and growth opportunities.
Taronga Ventures Co-Founder, Avi Naidu, who is relocating to Singapore, said the built environment was experiencing unprecedented change globally. “Structural adjustments to the way real estate operates, and is consumed, have accelerated due to major shifts in consumer behaviour, rapid evolutions in technology, and, most recently, global market shocks that will have an enduring effect. This partnership with CapitaLand-led Smart Urban Co-Innovation Lab further extends the Taronga Ventures’ reach across multiple markets in Asia, to quickly identify and execute on opportunities, allowing our institutional partners to adopt innovations earlier and deliver greater value to their customers, communities and capital.”
Taronga Ventures Co-Founder, Jonathan Hannam, said that the partnership with the Smart Urban Co-Innovation Lab was a critical component to support the ecosystem. “Having worked and lived in Singapore for many years we understand the relevance of a strong regional partner with the calibre of CapitaLand. Singapore is already recognised as a sophisticated international city with a focus on innovation and efficiency – many of our existing investments are already entering the market and looking to use Singapore as a base to grow into Asia.”
Mr Aylwin Tan, Chief Customer Solutions Officer, CapitaLand Group, said: “In just a few months of operations, the Smart Urban Co-Innovation Lab has brought together various ecosystem players to support Singapore’s drive towards building a smart city. We are excited to have Taronga Ventures as our latest partner to strengthen this network, providing their expertise as a specialist investor and bringing more technology companies to co-innovate with us.”