Singapore’s Agency for Science, Technology and Research (A*STAR) has launched a new program making it easier and more lucrative for local small and medium enterprises (SMEs) to license its technologies.
Of the 700 companies that have undertaken roughly 2,000 projects with A*STAR, many found they needed more time to develop the technology in order for it to meet its commercial potential. In response, the new Headstart program allows companies to adopt A*STAR innovations under a license that, for the first 18 months, is exclusive and royalty-free. These licenses can also be further extended at business-friendly terms through A*STAR’s tech transfer arm Exploit Technologies Pte Ltd (ETPL).
“The number of A*STAR technology licenses going to our SMEs have tripled in the past five years,” says Phillip Lim, CEO of EPTL. “We are encouraged to help our SMEs be more competitive in the global marketplace.”
Psiber Data, a developer of communication infrastructure technologies, is a prime example of the benefit of A*STAR’s new program. “Most SMEs like us need more time to transform technology from R&D into actual products and services,” says Arvind Patel, director of engineering at Psiber Data. “Headstart has allowed us to focus on developing value-added features to market and gain traction to increase our competitive advantage.”
Source: SG Press Centre