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New investments into deep tech for Singapore

Singapore’s deep tech scene is deepening. SGInnovate has just announced investments into three local deep tech startups, and deep tech learning and apprenticeship collaborations with four leading local universities.

The announcement comes at the wake of SGInnovate’s second anniversary and year after the announcement of its Deep Tech Nexus Strategy. Under the Strategy, the government linked company had invested in 45 deep tech startups. A critical milestone, a network of more than 50 local and international partners was built, growing Singapore’s deep tech ecosystem.

 “SGInnovate believes it can best develop Singapore’s deep tech ecosystem by helping technical founders build investible deep tech startups,” said Steve Leonard, Founding CEO, SGInnovate. “Two years of close collaboration with hundreds of scientists, engineers, investors and academics has strengthened our belief that Singapore can be a deep tech startup hub. Guided by our Deep Tech Nexus Strategy, the announcements we have made today represent new actions around Investment Capital and Human Capital. Both of these are the critical ingredients needed to build great deep tech startups here.”

The Deep Tech Nexus Strategy looks to add value to Singapore’s deep tech ecosystem through investment capital. Furnishing this, the company announced three investments into local deep tech startups.

The first, Horizon Quantum Computing, is Singapore’s first quantum computing startup. A new generation of tools are being developed to help the larger community of software engineers to build quantum-enhanced applications. With these tools, the need for prior quantum computing experience are negated. SGInnovate will back this startup, helping it to focus on efforts to democratise quantum computing. Singapore’s deep tech ecosystem can then harness quantum computing’s full power for the next deep tech breakthrough.

Involt, is the second startup invested in. The company is developing new energy storage cells which can aids the transition towards a low-carbon future. An exciting project being embarked on are ultracapacitators. Ultracapacitators form the backbone of a new breed of battery technology which is safer, more efficient and more cost-effective. SGInnovate’s investment is expected to help the startup expedite the development of its storage technology. This will accelerate the adoption of green technologies such as electric cars, including solar and wind power generation and distribution.

The third startup investment is in Portcast’s digital solutions for the logistics industry. Machine learning and real-time trade data will provide predictive analysis to help logistics companies better predict global cargo flows. Prices will be more dynamic and assets may be utilised more efficiently. With the investment, the product will be fully launched by 2019.

Students from the four universities can look forward to the nation’s first deep tech apprenticeship program. The aim is to strengthen Singapore’s human capital. Students from Nanyang Technological University, the National University of Singapore, Singapore Management University (SMU) and Singapore University of Technology and Design will be allocated dedicated apprenticeship seats for its students. Altogether, these students form half of the total number of seats available for each cohort of SGInnovate’s Summation Program.

Each student’s training course fee will be sponsored. From these courses, student can expect to acquire and utilise skills to build real-life applications for deep tech. The monthly stipends and training fees are valued at SGD 770 000 per annum.

Professor Pang Hwee Hwa, Dean, SMU School of Information Systems said, “We are excited by the opportunities that this program will offer to SMU students to work with leading industry partners and apply what they have learned about artificial intelligence, machine learning, deep learning and blockchain, for example, and make a meaningful impact in tackling real-world issues.”

Similarly, Professor Kam Chan Hin, Deputy Provost (Education), NTU, said, “The enhanced Summation Programme will offer our students greater internship and attachment opportunities in the deep tech sector, showing them how exciting it is and what future jobs will look like. By building up the students’ skills and passion for deep tech, we can expand the pool of specialised talent in this sector, and encourage more startup companies to scale and grow.”

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Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

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SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.