Wee Hur donates S$1.5 million to SUTD to support students’ innovation efforts

[SINGAPORE] Mainboard-listed real estate company Wee Hur on Thursday (Aug 6) said it donated S$1.5 million to the Singapore University of Technology and Design (SUTD) to support students’ entrepreneurship and innovation efforts.

The funds will go towards SUTD’s Design AI Innovation & Venture Exploration (Dive) programme, including innovation projects, venture development and overseas learning opportunities.

Professor Phoon Kok Kwang, president of SUTD, said: “Dive enables students to explore and experiment with their ideas, broaden their exposure through overseas internships, and receive funding and mentorship to turn promising ideas into student startups and other impactful initiatives.”

Some key components of the Dive initiative, which launched in April, are the Baby Shark Fund and Design2Venture Grant.

“The Baby Shark Fund provides seed funding for students who, at any stage, wish to test a bold idea, launch a micro-venture or explore something untried. 

“For students who are ready to go further, the Design2Venture Grant provides a more substantial level of financial support, helping them take an idea from concept to launch,” said Prof Phoon.

He added that this support is not limited to startups and extends to any purpose-centric design initiative. Each venture will be supported by mentors from SUTD’s network of partners.

One example under Dive is Cirvola, an initiative that turns discarded waste such as cocoa husks and fish bones into food products through valorisation. 

Another initiative is Seaforms, which tackles coral restoration. Divers assemble a flat-pack reefstar and anchor it at selected restoration sites underwater, where coral can grow over the structure for years.

SEE ALSO

CDL, Kwek Leng Beng donate S$24 million to SIT

The funds will also be used for the Wee Hur Think Tank on the university’s campus – a space for students’ innovative and entrepreneurial efforts.

“Significant funding gap”

On why Wee Hur chose to donate to SUTD, Goh Wee Ping, CEO of Wee Hur Capital and chief investment officer of Wee Hur Holdings, said SUTD’s education delivery is “multidisciplinary” – with students gaining industry exposure within the first two years of their course.

Prof Phoon acknowledged a “significant funding gap” in sustainability education and entrepreneurship, particularly as United Nations Sustainable Development Goals are not being met by its 2030 target.

He said: “There is an urgent need for a new generation of innovators who can develop practical design and technological solutions to address challenges such as climate change, food and water security, biodiversity loss and rising sea levels.”

This requires immersive and experiential learning opportunities beyond the classroom. However, ventures such as overseas field studies and learning journeys are often self-funded, making them inaccessible to many students, Prof Phoon noted.

“Developing sustainable innovations for underserved communities requires resources for field research, travel, prototyping, pilot testing, community engagement and on-site implementation. Without this support, promising ideas may not have the opportunity to move beyond the classroom,” he added, saying greater investment in these areas is “essential”.

Goh said: “We have always believed that good ideas deserve the chance to grow, and that the next generation is worth investing in.”