The National University of Singapore (NUS) is putting its money where its mouth is by committing $25-million to seed 250 deep-tech startups over the next five years. The Graduate Research Innovation Programme – GRIP – is designed to tap into NUS’ deep pools of technical & research talent to kick-start promising startup projects based on cutting edge technologies.
GRIP was unveiled at the recent official opening of the Innovation 4.0 building, the new home for deep-tech innovation at NUS. The programme is open to NUS graduate students, post-doctoral fellows, and research staff. Selected participants will enrol in intensive venture creation & business validation exercises and will be paired with experienced industry mentors who will help formulate viable business models and go-to-market strategies.
NUS’ Industry Liaison Office (ILO) will also help the fledgling startups prototype their concepts and protect their intellectual property. Innovators who successfully complete the venture creation training will be provided with $50,000 in seed funding to develop their proof-of-concepts (POCs). A further $50,000 will be made available to project teams that can attract third-party funding interest.
GRIP is a great opportunity for businesses seeking to augment their own innovation and product development initiatives. The programme will create a large pipeline of deep-tech based proof-of-concept projects that are championed by trained and talented technologists. Partnering companies will be able to preview and guide these early-stage projects with minimal risk or cost. Companies can also opt to make more significant investments at later stages in relevant projects that successfully prove their potential.
Contact us to find out more about GRIP and learn how it can benefit your organization.