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EDB Ventures and GemVentures set up US$6 Million Incubator Fund for Smart Card Applications
SINGAPORE, 1 November 2001
1. EDB Ventures (EDBV) and GemVentures have jointly set up "Gemplus - EDB Ventures Smart Labs Pte Limited" an incubator fund which will initially have a US$6 million investment budget for start up and young companies with innovative and viable business plan for smart card applications.
2. Gemplus - EDBV Smart Labs Pte Ltd will focus on sourcing and nurturing innovative ideas and applications based on smart card technology, but they will not be limited to Gemplus technology or Singapore start-ups. This focused hands-on incubator fund will leverage on Gemplus' global smart card business, dominant market position and premier brand name. EDBV and GemVentures will also actively seek other strategic partners such as telecommunication companies and financial institutions to take a stake in the incubator fund.
3. The collaboration is very much in line with Singapore Economic Development Board's (EDB) thrust to develop vibrant enterprise ecosystems in Singapore for various high growth and emerging business sectors. Such ecosystems comprise large and small, local and foreign enterprises and in different development stages, from start-up to large companies or global champions. The EDBV-GemVentures collaboration is a strong testament of Singapore's supportive and pro-business environment for start ups and strategic partnerships.
4. "As the leader in smart card applications and solutions, Gemplus is committed to providing young start-ups with the support needed to propel smart card technology in Singapore and throughout Asia. This partnership would enable Gemplus to leverage off EDB Ventures' extensive reach to identify opportunities," said Chou Fang Soong, Managing Director, Gemplus Technologies Asia Pte Ltd.
5. Smart card technology is widely used today and there are tremendous potential and vast opportunities for more new applications and in many more market places. According to Gartner Dataquest, the number of smart cards shipped world-wide is projected to be in excess of 4,000 million by 2004. Leveraging on smart cards' "secured and convenient" features, there exists a wide range of applications, such as in telecommunications, banking and payment, transportation, multimedia and healthcare. Smart card technology is also one of the key enablers in building a trusted e-business hub.
6. "The Gemplus-EDBV Smart Labs Pte Ltd is expected to finance many exciting innovative ideas and talents from the region. They can work with the many institutions and corporations in Singapore, including leveraging on Gemplus' substantial operation, to develop smart card solutions and markets. The Fund's plan to invite strategic partners such as telecommunication companies will increase the value of the fund to incubatees, especially in test bedding applications developed." said Liow Voon Kheong, General Manager of EDBV.
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About Gemplus Technologies Asia Pte Ltd
GEMPLUS: the world's number one provider of solutions empowered by Smart Cards (Gartner Dataquest 2001, Frost & Sullivan 2001).
Gemplus helps its clients offer an exceptional range of portable, personalized solutions that bring security and convenience to people's lives. These include mobile internet access, inter-operable banking facilities, e-commerce and a wealth of other applications.
Gemplus is the only completely dedicated, truly global player in the Smart Card industry, with the largest R&D team, unrivalled experience, and an outstanding track record of technological innovation.
Gemplus trades its shares on Euronext Paris S.A. First Market and on the Nasdaq Stock Market™ as GEMP in the form of ADSs. Its revenue in 2000 was 1.205 Billion Euros. It employs 7800 people in 37 countries throughout the world.
Gemplus: Your Passport to the Digital Age ™
www.gemplus.com
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About GemVentures
Set up in Spring 2000 with an initial funding of US$75 million, GemVentures - Gemplus' Venture Capital fund - aims to develop innovative technology, applications and services for tomorrow's smart card world by investing across Europe, the USA and Asia in promising and ambitious smart-card related businesses. Investments, from US$2 million to US$5 million, primarily focus on GSM, Internet transactions and then on opportunistic emerging markets such as loyalty, identity or access control. GemVentures is fuelled by an important qualified deal-flow and can therefore accurately assess investment opportunities through its valuable technical and marketing expertise.
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About EDB Ventures
EDB Ventures Pte Ltd is a wholly-owned subsidiary of EDB Investments Pte Ltd (EDBI). EDBI is the investment arm of the Singapore Economic Development Board (EDB). It makes strategic investments world-wide focusing on new business-models, technology and knowledge-intensive projects that deliver innovative solutions in hardware, software and related services. EDBI manages in excess of US$3 billion and has made investments in over 260 projects.
For more information, visit www.edbi.com.
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Contacts
Gemplus, Janet Loh
Manager, Marketing Communications
Tel : 65 317 3333
Fax : 65 873 7971
janet.loh-tk@gemplus.com
EDB Ventures Pte Ltd, Lai Yeow Hin
Senior Manager, Investments
Tel : 832 6664
Fax : 336 2503
yeowhin@edb.gov.sg
www.edbi.com
©2001 Gemplus All rights reserved. Gemplus,
the Gemplus logo and GemSense are trademarks and service marks of Gemplus
S.A. and are registered in certain countries. All other trademarks and
service marks, whether registered or not in specific countries, are the
property of their respective owners.
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