20210709 Bizspot Temasek img

Temasek does not just back promising young companies, it also grows them by investing at the earliest stage. Software developer Affinidi and cybersecurity expert Istari are companies it has founded. © Nikkei montage

Singapore's Temasek in for long haul with in-house startups

State-owned investor takes early bets by creating its own companies

SINGAPORE -- Like most air carriers, Singapore Airlines has suffered during the coronavirus pandemic. But since December, passengers flying the airline from Jakarta or Kuala Lumpur have received a lift from a digital health tool developed by a small startup owned by Temasek -- Singapore's state-owned global investment giant.

Singapore Airlines is one of a number of carriers using travel pass software from Affinidi, one of Temasek's little-known startups. The software verifies the authenticity of flyers’ COVID-19 test results. One of its main features is that it supports different health passports, making it simple for airlines to screen passengers.

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