Daily Briefing: Government invites ethical hackers to test systems; Singapore and France to boost startup ties

And PE firm Quadria Capital raises US$150m in commitment.

From Channel News Asia:

The government is on the lookout for ‘white hat’ or ethical hackers to test the cyber defences of some of its Internet-facing systems in order to identify vulnerabilities by the end of the year, deputy prime minister Teo Chee Hean announced.

Speaking at the opening of the third Singapore International Cyber Week (SICW), Mr Teo said the Government Bug Bounty Programme will help build an innovative cyber ecosystem, draw in a wide range of expertise to help identify blind spots in its systems and benchmark its defences against skilled hackers from around the world.

The minister pointed out that such initiatives are part of the Government’s investment in cyber innovation, given that cyber attackers are “extremely innovative”.

DPM Teo also said the Government is looking to enhance its cyber partnerships and, as part of that, is expanding its ASEAN Cyber Capacity Programme (ACCP) by setting up the ASEAN-Singapore Cybersecurity Centre of Excellence (ASCCE).

Read more here.

From e27:

Enterprise Singapore and Bpifrance are on the lookout for proposals on joint innovation projects in technological areas such as advanced manufacturing, cleantech and medical technology.

Bpifrance is a French agency that provides assistance and financial support to French companies,

The two entities will provide funding support for jointly selected projects. To qualify, the project consortium must have at least one company from each of the participating countries. Interested parties can sign up here.

Currently, several French startups have already set up their regional headquarters in Singapore. They include Kpler, Metron Lab and Finalcad. Similarly, Singapore startup H3 Dynamics has established their European headquarters in France.

Read more here.

From Deal Street Asia:

Healthcare-focused private equity (PE) firm Quadria Capital secured a US$150m (205.56m) worth of commitment from the US government’s development finance arm Overseas Private Investment Corporation (OPIC), an announcement revealed. The amount will go into the PE firm’s latest fund, Quadria Capital Fund II.

Quadria Capital II LP is an investment fund providing growth capital to middle-market healthcare companies in South and Southeast Asia.

The fund, which aims to raise up to $959m (US$700m), will invest in all aspects of the healthcare value chain in Asia, including hospitals and other treatment facilities, medical laboratories, and manufacturers of medical devices and equipment, OPIC said.

Read more here.