NUS invests S$20 million to turn deep-tech research into market solutions

THE National University of Singapore (NUS) is investing S$20 million to turn deep-tech research into market solutions, with additional funds for an existing programme as well as a new grant. NUS president Tan Eng Chye announced this at the NUS Deep Tech Venture Showcase on Monday (Mar 18). Of this amount, S$10 million will go towards the existing NUS Graduate Research Innovation Programme (Grip), while the other S$10 million will be used for the new Innovation Fellowship and Venture Creation Awards. Awardees will receive a two-year grant and guidance from the university’s entrepreneurship department, NUS Enterprise, to support them in their research commercialisation journeys. There will be three award categories, applications for which will open in April. 

The Innovation Fellow Award of S$80,000 a year is for early-career postdoctoral fellows.

The Provost’s Innovation Chair Professor Award of S$150,000 a year is for full-time faculty with some experience in translating research into products or solutions for the market.

The President’s Venture Creation Chair Professor Award of S$250,000 a year is for full-time faculty on tenure, with a strong record in translating research for the market.

Speaking at the event, Deputy Prime Minister Heng Swee Keat said he hoped such awards would push Singapore “towards a culture like (that of) the Americans and the Swiss, where faculty members toggle between academia and industry, and where the ‘scientist-entrepreneur’ instinct is pervasive and celebrated”.

Heng, who is also chairman of the National Research Foundation, noted that deep-tech investment and commercialisation are priorities under Singapore’s S$28 billion Research, Innovation and Enterprise 2025 plan.

A NEWSLETTER FOR YOU

Monday, 3.30 pm

Garage

The hottest news on all things startup and tech to kickstart your week.

Sign Up

Recipients of the Innovation Fellowship and Venture Creation Awards could be further supported in the next phase of their deep-tech venture journeys under Grip 2.0.

Launched in 2018, Grip is a year-long programme for NUS postgraduate students, researchers and alumni to grow into deep-tech entrepreneurs. 

The new S$10 million investment into this programme will cover pre-seed funding for successful teams in Grip 2.0.

With this additional amount, the funding for such teams will increase to S$250,000, more than double the initial funding of S$100,000.

For Grip 2.0, NUS has formed strategic partnerships with global venture capital firms SOSV, Legend Capital and Vertex Holdings, which collectively manage more than US$10 billion in assets. (*see amendment note)

Said Prof Tan: “Grip 2.0’s strategic partnerships with its three venture capital partners will bring valuable expertise, mentorship and resources for the Grip teams to build market-relevant and globally competitive products.”

Heng added that the partnerships would complement ongoing efforts such as a S$75 million pilot by Temasek’s investment platform Xora Innovation, launched last September, to accelerate the commercialisation of deep-tech ventures.

*Amendment note: An earlier version of the story incorrectly stated, based on a press release, that Temasek Vertex Ventures was one of the firms with which NUS has formed partnerships for Grip 2.0. The correct name is Vertex Holdings.