NUS, NTU to launch $37.7m national startup incubator

Photo credit: National University of Singapore

Singapore’s top two universities are launching a national platform with an initial commitment of S$50 million (US$37.7 million) to train up to 300 startup teams over the next four years.

The platform will be called the National Graduate Research Innovation Program (Grip) and will be open to startups from all autonomous universities and research institutes in Singapore, Deputy Prime Minister Heng Swee Keat said.

“This offers opportunities for cross-pollination between our autonomous universities and A*Star research institutes, each of which possesses their own distinct strength,” he added, referring to the Agency for Science, Technology and Research.

He was speaking at the RIE Deep Tech Day 2024, held alongside the Singapore Week of Innovation and Technology, an annual tech event organized by Enterprise Singapore. RIE stands for research, innovation, and enterprise.

National Grip is the result of integrating two existing incubator programs – the National University of Singapore’s (NUS) Grip 2.0 and the Nanyang Technological University’s (NTU) Lean Launchpad, according to a joint statement by NUS, NTU, and the National Research Foundation (NRF).

The two programs have incubated more than 400 startup teams and close to 160 spinoffs since they were launched six to seven years ago.

The 12-month National Grip program, which will be launched in January next year, will bridge the gap between scientific research and market application, said Heng.

By 2030, it aims to nurture 150 spinoffs, on top of training 300 startup teams by 2028.

The program hopes to support around 100 deeptech projects a year, equipping them with “founder-ready skill sets” and matching them with venture capitalists to pave the way to commercial viability.

Heng, who is the chairman of NRF, said developing a more compact and enabling ecosystem for deeptech requires enhanced linkages and networks among institutions, sectors, and across ecosystems in the region and globally.

He explained that tighter linkages between institutions would enable deep and cross-disciplinary capabilities to be built, and this is the thrust of National Grip. Cross-sectoral partnerships, the second level, then help to accelerate the growth and impact of the deeptech ecosystem.

As startups address real-world challenges, it often means developing solutions that can be scaled beyond Singapore. On this third level, Heng said that the country must continue to deepen its connections with ecosystems across the region and around the world.

Currency converted from Singapore dollar to US dollar: US$1 = S$1.32.