At the opening of Singapore Week of Innovation and Technology (SWITCH) 2024, Founders Factory announced the launch of a new deep tech venture studio in Singapore. This expansion is set to accelerate venture building and investment activities across Southeast Asia (SEA) in deep tech and climate tech.

The announcement, made by Singapore’s Deputy Prime Minister Heng Swee Keat on October 28, marks another step in Singapore’s ambition to be a global leader in innovation, particularly in fields such as AI, quantum computing, robotics, and climate tech.

George Northcott, President of Founders Factory, explains to e27 that this new venture studio is part of the company’s broader ambition to transform early-stage tech ecosystems globally. “Our deep tech studio in Singapore will partner with scientists, technologists, and experienced operators to build new ventures in collaboration with world-leading organisations across SEA, focusing on cutting-edge sectors like AI, quantum computing, robotics, and climate tech.”

The new studio, supported by Enterprise Singapore (ESG), aims to translate research into tangible outcomes and attract international startups to Singapore’s expanding deep tech ecosystem. ESG, a statutory board under Singapore’s Ministry of Trade and Industry, has played a key role in supporting deep tech innovation and catalysing startup activity in the region, particularly in technology-driven sectors.

Founders Factory’s new initiative promises to foster deep connections with ESG and other local enterprises and government agencies to help startups commercialise and scale their technologies.

Also Read: The role of corporate pathfinders and activators in deep tech

Building on momentum in the APAC region

Founders Factory is no stranger to the Asia Pacific (APAC) landscape. The organisation has already built a significant presence in the region, collaborating with Pico in Singapore and with Rio Tinto and the Government of Western Australia in Perth, Australia. These partnerships have allowed Founders Factory to expand its venture-building capabilities across multiple sectors and gain invaluable insights into the local tech ecosystems.

“Our Singapore hub will support Singapore-based deep tech startups with global commercial opportunities through our international partner networks,” Northcott noted.

He added that the venture studio would also provide Southeast Asian access for Founders Factory’s existing portfolio of over 300 startups, further accelerating the exchange of ideas and innovation between markets.

As part of the launch, Founders Factory will make an initial two hires in Singapore to jumpstart its operations, with plans to bring in experienced team members from other markets to apply their expertise in venture building on the ground. This initial team will support the development of a venture studio dedicated to designing, building, and launching new companies.

A unique venture-building approach

What sets Founders Factory’s deep tech venture studio apart is its focus on partnering with leading scientists, technologists, and experienced operators to create high-impact ventures in collaboration with world-class organisations across SEA.

The studio will also launch corporate venture studios in the region, enabling large-scale corporate involvement in deep tech innovation and creating further venture-building pathways for entrepreneurs.

Also Read: Uncovering the rise and challenges faced by deep tech startups in Singapore

This new venture studio in Singapore is a key component of Founders Factory’s global climate and deep tech platform, which supports early-stage deep tech ventures through capital investment, operational support, and a vast network of corporate partners, government agencies, and academic institutions.

“This platform allows us to create unique opportunities for entrepreneurs working on frontier technologies,” Northcott shared, adding that the Singapore hub will expedite global market access for these ventures.

Supporting breakthrough tech and startups

The venture studio in Singapore will work with startups pushing the frontiers of technology, including those exploring AI, biotech, and materials science.

Founders Factory’s portfolio already includes companies like Monolith, which developed a machine-learning tool for accelerating engineering design processes for complex products like rockets and jet engines, and Peptone, a biotech startup using AI to develop new medicines.

In the materials science field, Cambridge University spinout Materials Nexus has created an AI-powered platform to design new materials with rare earth metal-like properties.

Climate tech innovations are also well-represented within Founders Factory’s portfolio, with startups like Jeevan Climate Solutions developing cost-effective carbon capture technologies and DRIFT Energy working on unmanned vessels that convert wind energy into clean hydrogen.

The Singapore hub will help these startups access broader SEA markets and global networks, enhancing their commercial viability.

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Image Credit: Founders Factory

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