Temasek, NTU, NUS launch $55m program to boost SG’s deeptech landscape

Photo credit: Temasek

Two Singapore universities, Nanyang Technological University (NTU) and National University of Singapore (NUS), have partnered with Temasek to start a S$75 million (about US$55 million) pilot program that aims to support deeptech startups arising from the universities’ research output.

According to a joint statement, the program will target areas with high global demand such as energy transition, biotechnology, and the future of compute and cognition.

Temasek will invest US$47.7 million mostly through Xora Innovation – a platform that invests in early-stage deeptech ventures – while NTU and NUS will each provide around US$3.6 million to the program.

The three organizations will also give startups access to their networks of businesses and mentors. At least two startups will be launched every year under the program and they will be given support to prepare them for long-term global growth.

Moreover, NTU and NUS will develop a common intellectual property licensing framework and platform, which will speed up the licensing and translation of university technologies for spin-off companies.

“We will augment this commercialization effort with global capital, experienced venture builders, and seasoned entrepreneurs from Temasek’s and Xora’s global networks,” said Russell Tham, head of emerging technologies and joint head of enterprise development group for Singapore at Temasek.

See also: Mapping Temasek’s role in the startup space (updated)

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