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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
Business Spotlight

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

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

DYLAN LOH, Nikkei staff writer | Singapore

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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