Alibaba Group Holdings Ltd. announced to be in talks to invest USD3billion into ride-hailing Grab. The Group’s priority has always been to defend its dominance in the Chinese e-commerce market. What Grab has to offer complements Alibaba’s areas of focus – in e-commerce and fintech businesses - and neatly fits into what Alibaba would like to have, namely on-demand logistics infrastructure, regional know-how and established partner networks in each country in Southeast Asia. It's planned to be the biggest Group's venture in Southeast Asia.
Grab was founded in 2011 as a taxi aggregator startup, since then Grab has added on many other services such as digital wallet, food delivery and built an entire ecosystem around their services. With one touch, the client gets access to the wallet, logistics and other services. The company plans to go public this year as part of the partnership with Altimeter Growth Corp.. Currently, the cost of capital is $ 40 billion.
Apart from well-known Singapore benefits, as being a great financial, infrastructure, logistics hub, Singapore permanently improves and re-skills human resources, pushed by global digitalization and new trends. Companies take new initiatives at the corporate level, as a government supports workers to transform and develop updated capabilities. That's the most important factor of the global leadership of Singapore.
We help startups to set up an entity in Singapore, not only for reputation purposes but also to get access to huge government support through various grants and loans. Including:
- Productivity Solutions Grant to enhance IT processes: Funds up to 80% of the costs.
- Enterprise Development Grant: Core Capabilities, Innovation, and Productivity, Market Access. Support raised up to 80% of the costs.
- PACT Grant for increasing collaboration between Singapore enterprises capped at 70%.
- Programmes for the Internationalization of the local companies.
- Venture Debt Programme: access to venture capital, $5mil for 5 years, risk share is at 50% (young co – 70%).
- Startups Support Programmes.
- Loans at the lowest interest rates for the local companies.
Please contact us accordingly, we will be happy to share more information on opportunities and government support and help with the preparation and submission of all the required documents.