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S$75 million boost to groom deep tech start-ups
NTU Singapore, National University of Singapore (NUS), and Temasek have partnered to kickstart a joint S$75 million pilot programme that aims to accelerate the creation of successful deep tech start-ups from the pipeline of research at NTU and NUS.
In addition, NTU Singapore and NUS will develop a common Intellectual Property (IP) licensing framework, which will expedite the licensing and translation of university technologies for spin-off companies. The outcome will be a shorter process of one month, instead of the usual period which can take up to five months.
Temasek will invest S$65 million, mostly through Xora Innovation (Xora), an early-stage deep tech investing platform of Temasek, into the deep tech start-ups while NTU and NUS will each invest S$5 million in this effort.
NTU and NUS will also develop a unified online platform to provide potential licensors with a one-stop-shop where they can identify and select IPs from both universities that align with their business requirements.
In addition to a faster licensing and translation process, the streamlined approach is expected to enhance companies competitiveness through more options such as deferred payment of licensing fees.
The MOU was signed at the Temasek Shophouse on Tuesday, 12 Sept 2023, by NTU President Professor Ho Teck Hua, NUS President Professor Tan Eng Chye, and Mr Russell Tham, Head, Emerging Technologies and Joint Head, Enterprise Development Group (Singapore) of Temasek.
