Singapore-based life sciences tool and medical device producer Esco has launched a $8m venture capital fund, Esco Ventures.
Esco Ventures, which will be funded by the Esco Group of Companies, will target early-stage start-ups in the life sciences, medical and healthcare technologies sectors. The fund will enable local scientists and researchers to commercialise their ideas for the global market.
Esco manufactures lab equipment and medical devices for in-vitro fertilisation. Lin Xiangqian, Esco’s CEO, said: “We can provide not only the usual incubation, mentorship and funding, but also access to product development, manufacturing expertise and a global distribution network.
“Singapore is a small country between India and China and we can’t compete on scale. So we have to innovate to create higher-value jobs.”
– Image courtesy of Esco