SGInnovate, Centre for Quantum Technologies tie-up to boost quantum tech startups in S'pore

SGInnovate, Centre for Quantum Technologies tie-up to boost quantum tech startups in S'pore

3 -min read
Listen to this article
3 -min read
Listen to this article

SINGAPORE government-owned innovation platform SGInnovate and Centre for Quantum Technologies (CQT), a research institute hosted by the National University of Singapore, on Friday signed a Memorandum of Intent (MOI) aimed at promoting quantum technologies and facilitating the commercialisation of quantum innovations in Singapore.

The collaboration spans over two years, and the end goal is to aid local researchers working within the quantum technology field to upscale their solutions to reach and connect with the commercial industry. The aim is to transform quantum science into solid, scalable industry solutions. 

The partnership adds to SGInnovate's recent investment in quantum tech startups such as communications-focused startup SpeQtral, quantum computing startup Horizon Quantum Computing and Atomionics, SGInnovate's latest investment, which works on using atomic waves for navigation and exploration in areas without GPS systems.

SGInnovate and CQT will host joint events and workshops to promote quantum technologies and awareness of quantum tech, especially among potential industry partners and investors. They aim to reach over 2,000 individuals from the deep-tech ecosystem in Singapore. 

Under the MOI, CQT will introduce researchers and research project teams who are interested in exploring the formation of a startup to bring their potential product to market to SGInnovate. 

SGInnovate will serve as a commercial adviser to aspiring entrepreneurial scientists, providing coaching and active support to these CQT teams to help them at all stages of forming, launching and scaling their startups. The support from SGInnovate also includes the raising of investment funds from the VC community.

In an interview with The Business Times, Steve Leonard, founding CEO of SGInnovate, mentioned that talks are in progress with various VC firms to invest in quantum tech startups.

CQT will provide technical expertise to SGInnovate and its industry or government partners to deepen interest and knowledge-sharing in quantum technologies.

Mr Leonard said: "Through our partnership with the Centre for Quantum Technologies, we are going straight to the source of remarkable quantum research conducted in Singapore. We want to help entrepreneurial scientists working with quantum technologies to build commercially successful startups."

Professor Artur Ekert, founding director of CQT, said that CQT aims to push the boundaries of human knowledge and build cutting-edge technologies.

"Together, we aim to catalyse the translation of our scientific advances into technologies that will benefit the economy and society," he said.