Most of the government support conversation in Singapore centres on small and medium enterprises: the Enterprise Development Grant, the Productivity Solutions Grant, and now the consolidated EDGE Grant that replaces both from 30 September 2026. But a different, much less discussed scheme sits alongside these SME-focused programmes: the Economic Development Board’s Corporate Venture Launchpad, now in its third edition as CVL 3.0.
CVL is not for a bootstrapped startup applying for its first grant, and it is not for an SME buying software under the Productivity Solutions Grant. It is built for established multinationals, large local enterprises, regional family businesses and high-growth companies that want to build an entirely new venture out of Singapore, or strike up structured partnerships with startups. If your company has outgrown the typical grant conversation and is instead asking how to diversify into a new revenue line, this is the scheme worth understanding.
This article sets out what CVL 3.0 actually offers, who qualifies, how the application process works, and where Raffles Corporate Services can help once a venture concept moves from EDB approval into an actual operating Singapore entity.
What Is the Corporate Venture Launchpad?
The Corporate Venture Launchpad was launched by EDB in 2021 to grow Singapore’s corporate venturing ecosystem: the practice of established companies building new, independent ventures rather than relying solely on organic growth or acquisitions. In its current third edition, EDB has committed additional funding to continue the Corporate Venture Launchpad programme, working with a curated panel of appointed partners to deliver structured support.
Since CVL’s launch, EDB has supported more than 20 companies in building over a dozen new ventures headquartered in Singapore, several of which have gone on to raise external follow-on funding from investors. The programme is administered by EDB’s New Ventures team, distinct from the Enterprise Singapore grants that most SMEs are familiar with, which reflects the difference in the target company profile: CVL is designed for organisations with the balance sheet and strategic mandate to build, not just apply for a subsidy.
Two Distinct Modes of Support
CVL 3.0 supports two different modes of corporate venturing, and a company applies for one or the other depending on its objective:
| Mode | What It Involves | Partner Type | EDB Co-Funding |
|---|---|---|---|
| Venture creation | Building a brand new venture, in a sprint format, to validate a concept and launch it as a new business outside the parent company’s core operations | Venture Studio partners | Up to 50% of manpower and professional services costs, plus EDB venture builders as supplementary support |
| Startup partnerships | Structuring a pilot collaboration with a startup where the corporate acts as an end customer, go-to-market partner or manufacturing partner | Open Innovation (OI) partners | Up to 50% of manpower and professional services costs, plus EDB advisory involvement |
Nine partners have been appointed under CVL 3.0 to deliver these two modes, spanning global venture-building specialists and management consultancies such as BCG X, Leap by McKinsey, Next by Bain & Company, EY Parthenon and Arthur D. Little, alongside dedicated corporate venture builders including FutureLabs, Start2 Group, Wright Partners (working with MING Labs) and startup-innovation platform Plug and Play. A company applying to CVL selects the partner whose methodology and sector experience best fits its venture concept or startup-collaboration goal.
Who Actually Qualifies
CVL’s eligibility bar is deliberately set above the typical SME grant. EDB looks for:
- Company profile: established corporates, regional businesses and high-growth companies with significant revenues or market capitalisation, and existing Singapore operations.
- A clear internal mandate: the applicant must demonstrate genuine commitment to corporate venturing, not a speculative side project, with C-level attention and dedicated resourcing.
- For venture creation: a concept addressing a large opportunity space, in any sector, aimed at generating new revenue outside the parent company’s existing core business, with breakthrough potential and the ability to leverage the parent’s own assets. EDB also requires the concept to be sufficiently differentiated from ventures it has already supported.
- For startup partnerships: a genuine, meaningful problem statement that the corporate wants to solve with startups, with willingness to build the internal processes needed to run an effective pilot and to commit to signing pilot agreements.
- A Singapore anchor: any venture that emerges from the programme must be headquartered in Singapore.
This is a materially different eligibility test from schemes built for smaller companies, such as the Startup SG Equity co-investment scheme for early-stage deep tech startups, or the Partnerships for Capability Transformation (PACT) programme, which connects SMEs into MNC supply chains. CVL instead sits on the MNC and large-enterprise side of the relationship: it is the mechanism through which the MNC itself builds or partners, rather than the mechanism through which a smaller supplier gets funded to serve one.
How CVL Compares to the Grants Most Singapore Businesses Already Know
| Scheme | Administered By | Typical Applicant | Purpose |
|---|---|---|---|
| EDGE Grant (replacing EDG, PSG, MRA) | Enterprise Singapore | SMEs and non-SMEs upgrading capabilities | Capability building, productivity, overseas expansion for an existing business |
| Startup SG Equity | Enterprise Singapore / SEEDS Capital | Early to growth-stage deep tech startups | Equity co-investment alongside third-party investors |
| Global Innovation Alliance | Enterprise Singapore | Startups and SMEs testing overseas markets | Overseas market access and innovation partnerships |
| Corporate Venture Launchpad | EDB | Established corporates, regional businesses, high-growth companies | Building brand new ventures or structured startup partnerships from Singapore |
Companies exploring several of these options at once, whether as the corporate or the startup side of the relationship, should also see our broader guide on how to stack Singapore government grants, since CVL support can sit alongside separate tax incentives such as the Pioneer Certificate Incentive or Development and Expansion Incentive once a venture reaches the stage of formal EDB incentive negotiations.
The Application Process
EDB has structured the CVL application into three practical steps:
- Programme application and kick-off: the interested company submits its application directly to EDB’s New Ventures team, which assesses eligibility and works with the applicant to refine the initial scope before finalising application materials.
- Scope the validation sprint or partnership initiative: the company develops a draft scope for its venture creation sprint or startup partnership, and identifies the pre- and post-project support it will need, in collaboration with its preferred appointed partner.
- Select a Venture Studio or Open Innovation partner: the company approaches one or more of the nine appointed partners to compare venture-building or startup-partnership methodologies, and finalises its preferred partner before the project proceeds.
Because each Venture Studio and OI partner runs its own methodology, the exact deliverables and timelines for a concept validation sprint or pilot programme vary from partner to partner. EDB itself does not publish a single fixed timeline across all nine partners; companies are expected to work this out directly with their chosen partner once eligibility is confirmed.
Why This Matters Beyond the Grant Cheque
The practical challenge with CVL is rarely the application itself. It is what happens once a venture concept is validated and needs to become a real, Singapore-incorporated operating entity with its own governance, banking, payroll, GST registration and statutory compliance calendar, separate from the parent company’s own corporate structure.
This is where the corporate services side of the exercise becomes as important as the EDB relationship. A new Singapore venture spun out of a CVL sprint typically needs, from day one:
- Incorporation of the new entity, with a share structure that reflects how the parent company, any co-investors and, in some structures, the Venture Studio partner itself will hold equity.
- Corporate secretarial support to keep the new entity compliant with ACRA’s annual filing requirements under the Companies Act 1967 from its first board resolution onward.
- GST and tax registration decisions taken early, particularly where the venture will invoice the parent company, an OI startup partner, or overseas customers, in line with IRAS’s GST registration rules.
- Bookkeeping and management accounts built cleanly from inception, so that when the venture seeks its next round of external funding, the financial records do not become a due diligence problem.
Raffles Corporate Services works with corporates and their venture teams on exactly this handoff: taking a validated CVL concept and turning it into a properly structured, compliant Singapore company, so that the EDB-funded sprint translates into a business that can actually operate and raise capital.
Frequently Asked Questions
Is CVL open to SMEs?
CVL is designed for established corporates, regional businesses and high-growth companies with significant revenues or market capitalisation, not the smaller SMEs that typically apply for the EDGE Grant or Startup SG schemes. A smaller company looking to build a new venture is more likely to fit Enterprise Singapore’s startup-focused programmes instead.
Do I need to already have a venture idea to apply?
Yes. EDB expects applicants to bring a concept addressing a genuine opportunity space, or a specific problem statement for a startup partnership. The programme validates and builds out an idea; it does not generate one from scratch.
Can a foreign multinational apply, or must the applicant be a Singapore-incorporated company?
CVL is open to companies with existing Singapore operations, and any venture that results from the programme must be headquartered in Singapore. Multinationals with a Singapore presence and a clear mandate for new venture creation are squarely within scope.
How much funding is actually available?
EDB co-funds up to 50% of manpower and professional services costs for both venture creation and startup partnership tracks, alongside non-monetary support such as EDB venture builders and advisory involvement. The exact quantum for a given project depends on the scope agreed with the chosen Venture Studio or OI partner.
Where do I start?
Companies can reach EDB’s New Ventures team directly to discuss eligibility, or approach one of the nine appointed CVL 3.0 partners to explore a fit before making a formal application.
Getting the Structure Right From the Start
The Corporate Venture Launchpad is one of the more overlooked pieces of Singapore’s enterprise support landscape precisely because it is not built for the audience that most grant guides target. For the right company, though, it is a meaningful way to co-fund the messy, expensive early stages of building a genuinely new business, with EDB’s own venture builders and a panel of experienced partners in the room.
If your organisation is exploring a CVL application, or has already validated a concept and now needs it incorporated, structured and compliant as an operating Singapore company, Raffles Corporate Services can help you move from concept to a properly running entity. Reach out to discuss how we can support your venture team through this transition.
The Editorial Team, Raffles Corporate Services