TEMASEK Lifesciences Accelerator (TLA) has launched a life sciences startup programme to incubate over 30 startups in the next five years.
TLA's incubator, called The Hatchery, provides access to mentorship and 17,000 square feet of co-working space and research facilities. Key facilities include laboratories, specialised wet labs, growth chambers, greenhouses, and animal and aquaculture research facilities.
TLA will fund the best startups in the programme either through a pre-seed, seed or Series A investment via its fund, The Lifesciences Innovation Fund (TLIF). Through TLIF investments and related fundraising activities, TLA aims to support incubatees with a target of close to S$100 million in funds raised during the next five years.
TLA is a joint venture between Temasek Life Sciences Laboratory, a nonprofit philanthropic research organisation, and Temasek Holdings' venture capital arm Vertex Holdings.
The Hatchery is run by a team of professionals in TLA with experience in intellectual property commercialisation, startup investing, talent recruitment, and sales and marketing. Startups will also have access to TLA's network of scientists, entrepreneurs, business executives and investors.
The programme is part of Enterprise Singapore's Startup SG Accelerator initiative, which provides funding and non-financial support to incubators and accelerators that catalyse growth for high potential startups.
Ted Tan, deputy chief executive of Enterprise Singapore, said: "The access to research infrastructure and equipment will enable such startups to accelerate their innovations toward commercialisation and shorten the time required for their products to go to market globally."
Singapore-based startups Allegro Aqua and Pathnova have respectively commercialised superior sea bass genetics and nasopharyngeal cancer diagnostics technologies through The Hatchery.
"We want to provide a nurturing environment to support the development of companies capable of delivering real world impact," said TLA chief executive Peter Chia.