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The National University of Singapore (NUS), Temasek, and Nanyang Technological University, Singapore (NTU Singapore) have inked a Memorandum of Understanding (MoU) to begin a collaborative S$75 million pilot programme that intends to hasten the development of profitable deep tech start-ups from NUS and NTU research pipelines.
Additionally, a shared Intellectual Property (IP) licencing framework between NTU Singapore and NUS would speed up the licencing and translation of university innovations for spin-off businesses. In contrast to the typical process, which can take up to five months, the outcome will be a shorter one-month process.
“The collaboration sees us synergising our expertise and resources to create opportunities for applications of emerging technologies and empower start-ups and companies to create positive societal impact and economic growth through innovation,” said Professor Tan Eng Chye, President of NUS.
He added that NUS is excited to leverage its rich expertise and experience in entrepreneurship and innovation to help mature its deep tech ecosystem and facilitate and accelerate IP commercialisation through the framework.
NTU and NUS will each contribute S$5 million to the deep tech start-ups, with Temasek contributing S$65 million. In order to start and develop globally competitive businesses with tremendous potential to address significant global market opportunities in areas including the energy transition, biotechnology, and the future of computation and cognition, Temasek and a deep-tech company will work with NTU and NUS.
To build and refine their go-to-market plans, the deep tech founders will work with the university technical and intellectual property teams. The start-ups will also have access to the networks of firms and mentors offered by Temasek, NTU, and NUS. Every year, at least two start-ups will be introduced, and to help them position themselves for long-term success on a global scale, they will get investment, support, and entrepreneurial mentoring.
Temasek makes investments in cutting-edge innovation to pinpoint and develop skills that are future-focused. By investing in and developing future deep tech champions, its Emerging Technologies division helps to scale Singapore’s deep tech ecosystem and finds disruptive technology investment possibilities that address market nuances.
To give prospective licensors a one-stop shop where they may find and choose IPs from both universities that meet their business needs, NTU and NUS will also create a single online portal.
Advanced materials, biotechnology, quantum computing, and artificial intelligence (AI) are among the cutting-edge topics that deep tech businesses frequently concentrate on. By helping these entrepreneurs, Singapore can encourage ground-breaking inventions that could revolutionise whole sectors of the economy and enhance human welfare.
The nation acknowledges that deep tech companies can boost economic growth, add to the GDP of a nation, and generate high-value jobs. These firms frequently draw talent and call for certain talents, which helps to create new sectors and grow ones that already exist.
Numerous deep tech startups are tackling urgent global issues like cybersecurity, healthcare, and climate change. By helping these firms, technology that tackles these important problems may be developed.
Investing in the development of deep tech startups can provide nations and regions with a competitive edge in the global technology market. Through the promotion of creativity and enterprise, they can establish themselves as pioneers in developing technological domains.
The benefits of nurturing deep tech businesses are not limited to the technological and commercial spheres; they also include wider societal advantages. These businesses frequently tread new ground in ways that improve people’s quality of life and promote environmental sustainability.
