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National U of Singapore to launch multimillion dollar fund to support start-up activity


By Jesse Schwartz
Published: September 12th, 2018

The National University of Singapore (NUS) is launching a S$25 million (US$18.18 million) fund to help its students and researchers create tech start-ups.

The fund would benefit up to 50 ventures each year over the next five years. Initially, the chosen start-ups would be put through a three-month business validation and venture creation program, in which tech industry executives help them develop a business model, license intellectual property, build a prototype, and perform other pre-launch tasks.

At the end of the development process, the start-ups would be assessed to gauge their readiness for the first investment of S$50,000 (over US$36.2K), which would help them to further develop their prototypes. They would then receive an additional S$50,000 investment to help flesh out their business plans.

“Mentorship and funding are crucial for early-stage startups,” says NUS president Tan Eng Chye. “We hope to create a strong pipeline of research-based technology companies that will introduce innovative applications and technologies to Singapore and the global markets. Each of these tech-based start-ups would create innovation-based jobs, benefitting the Singapore economy in the long run.”

Source: ZD Net

Posted under: Tech Transfer e-News

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