The Nanyang Technological University, Singapore (NTU Singapore), the National University of Singapore (NUS), and Temasek have launched a joint S$75 (US$55) million pilot programme to accelerate the creation of successful deep-tech startups from the pipeline of research at NTU and NUS.
Temasek will invest S$65 (US$48) million, mostly through its early-stage deep-tech investing platform Xora Innovation, in deeptech startups, while NTU and NUS will each invest S$5 million.
Temasek and Xora will collaborate with NTU and NUS to launch and build globally competitive ventures with strong potential to address large global market opportunities in energy transition, biotechnology, and the future of computing and cognition.
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In addition, the two universities will develop a common Intellectual Property (IP) licensing framework, which will expedite the licensing and translation of university technologies for spin-off companies. The outcome will be a shorter process of one month instead of the usual period, which can take up to five months.
Xora’s team of deep tech founders will collaborate with the IP and technical teams from the universities to develop and hone their go-to-market strategies.
NTU and NUS will also develop a unified online platform to provide potential licensors with a one-stop shop to identify and select IPs from both universities that align with their business requirements.
Furthermore, Temasek, NTU, and NUS will also provide the startups access to their networks of businesses and mentors. At least two startups will be launched annually and provided entrepreneurial mentorship, funding, and support to position them for long-term global success.
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