Antler, NUS to invest $177k in deep-tech startups under new program

Singapore-based startup enabler Antler and the National University of Singapore (NUS), through its Graduate Research Innovation Program, announced an executive program to nurture more deep-tech startups.

Photo credit: Antler

With the six-month Executive Deep Tech Programme, the two entities seek to enable around 30 deep-tech startups a year, providing them with support to form their teams,  access to their combined network of advisers, and funding of up to S$240,000 (US$177,000) each.

According to a statement, Antler will match founders with software or deep-tech skills to those with a background in business. NUS, on the other hand, will provide access to its pool of research-based technologies to help teams formulate their startup ventures.

With the initiative’s part-time nature, participants will be able to keep their current jobs while they find partners and launch their new ventures.

The program is set to run in two phases. Under the first phase, participants will form a team to identify and validate a business idea. At the end of this phase, the teams will be evaluated for a US$100,000 investment by Antler.

Companies selected by Antler will be eligible to enter the second phase of the program, where they can further develop their prototype to be market-ready. NUS will then evaluate the startups at the end of the second phase for a further S$100,000 (US$74,000) investment.

The partnership is set to begin with a pilot during the first quarter of 2020 with an expected intake of more than 60 commercial and tech founders. Participants will be chosen based on their business or technical expertise, entrepreneurship amplitude, and commitment. The program will initially support startups in the bio and healthtech, sustainability and environment, Industry 4.0, and AI spaces.

Applications are open from now up to January 5, 2020.

Currency converted from Singapore dollar to US dollar: US$1 = S$1.36.