People who have innovative ideas in medical technology will rejoice when you hear this latest news: as part of the Research, Innovation and Enterprise 2015 plan (PDF), the Singapore government is launching a SGD 40M (USD 32M) fund for medical technology startups.
This funding will be managed by SPRING SEEDS Capital, under a new Biomedical Sciences Accelerator (BSA) programme. They will select up to two BSA operators. High-potential med-tech start-ups will be identified, evaluated, financed and managed as well as to better commercialised the intellectual property developed in the sector by the selected operators.
Within the biomedical science industry, medical technology is one of the key sectors of Singapore economy. According to TodayOnline, the med-tech industry employs more than 13,000 people and contributes 10% to Singapore’s total manufacturing output.
Image Credit: zhouxuan12345678
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