Photo credit: National University of Singapore
The National University of Singapore (NUS) is setting aside S$20 million (US$14.9 million) for further development and commercialization of deeptech research, Channel News Asia reported.
This investment is said to be a strategic move to scale advanced research into practical applications, with an emphasis on technologies that can address global issues such as climate change and food security.
Half of the funds would be designated for helping NUS faculty members and researchers turn their deeptech projects into marketable products.
The other half of the amount will be used to bolster the university’s Graduate Research Innovation Programme – better known by its acronym NUS Grip. This is an existing program designed to guide and support aspiring entrepreneurs in launching businesses based on deeptech innovations.
The new investment would add to NUS’ previous partnership with Nanyang Technological University (NTU) and Temasek for a roughly US$55 million pilot program for deeptech startups stemming from the two universities’ research.
Additionally, in 2021, Temasek pledged to set aside US$740 million annually for deeptech investments, focusing on areas like advanced manufacturing, disruptive materials, net-zero tech, life sciences, and foodtech.
See also: Mapping Temasek’s role in the startup space (updated)
Currency converted from Singapore dollar to US dollar: US$1 = S$1.34.
Editing by Dhania Putri Sarahtika
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