Deputy Prime Minister Heng Swee Keat speaking at the Research, Innovation and Enterprise Deep Tech Day, on the second day of the Singapore Week of Innovation & Technology on Oct 29. Photo: National Research Foundation, Singapore.

The launch of the National Graduate Research Innovation Programme (National GRIP) is a significant advancement for Singapore's deep tech ecosystem. Set to launch in January 2025, National GRIP aims to train up to 300 start-up teams by 2028 and foster over 150 spin-offs by 2030, backed by a commitment of S$50 million in financial and in-kind support over five years. This collaborative effort between the National Research Foundation (NRF), NUS and the Nanyang Technological University (NTU Singapore) was announced by Deputy Prime Minister and Chairman of NRF, Mr Heng Swee Keat at the Research, Innovation and Enterprise Deep Tech Day, on the second day of the Singapore Week of Innovation & Technology (SWITCH) on 29 October 2024.

National GRIP integrates two successful incubator programmes—NUS’ Graduate Research Innovation Programme 2.0 (NUS GRIP 2.0) and NTU's Lean Launchpad (LLP 2.0). Together, these programmes have successfully incubated over 400 start-up teams, creating close to 160 spin-offs. The new programme will be a comprehensive incubator programme designed to bridge the gap between scientific research and market application. It will support start-up teams by helping them refine their initial ideas, validate market needs, and design robust business models through a structured programme framework. Participants will also benefit from personalised mentorship from industry leaders and access to a network of experts.

Associate Professor Benjamin Tee, Vice President (Ecosystem Building) at NUS Enterprise said, “We are pleased to partner with NTU in launching the National GRIP initiative with the support of NRF. This initiative integrates the two leading programmes to further mature our deep tech start-up ecosystem in Singapore, equipping teams with essential building blocks from idea validation to market readiness. By integrating the best practices and insights from our individual programmes, we are confident that National GRIP will accelerate growth of globally competitive deep tech start-ups by providing a well-structured end-to-end support that closely aligns with our nation's RIE strategic plans.”

Accelerating start-ups' growth and success

Designed for founders, innovators, and researchers from Singapore's autonomous universities (AUs) and A*STAR research institutes (RIs), the 12-month programme offers access to a dynamic network of resources. They can leverage intellectual property from AUs, and A*STAR RIs have the opportunity to join existing teams in NUS GRIP 2.0 and LLP 2.0. With this extensive pool of resources, National GRIP fosters deep tech venture creation that draws on each institution's distinctive strengths.

As a platform that aggregates a critical mass of deep tech start-ups, teams can be effectively matched with suitable investors and vice versa. National GRIP will deepen partnerships with deep tech venture capitalists (VCs) and venture builders, such as current NUS GRIP 2.0 strategic partners Legend Capital, SOSV Investments LLC and Vertex Holdings, by involving them early in the programme to provide stronger commercial insights to the teams. These partners help to support start-ups by increasing their investment readiness and access to specialised markets and deepening their industry expertise.

Additionally, there are plans to leverage the VCs' networks to attract experienced founders who can team up with the start-up teams as co-founders, advisors or collaborators to accelerate the start-ups' growth. To help start-ups scale and expand internationally, National GRIP will also act as a springboard for start-ups to go beyond local connections, leveraging the global network of NUS BLOCK71.

Dr Wen Hsieh, Founding Managing Partner, Matter Venture Partners, another strategic partner of NUS' GRIP 2.0, said, “National GRIP is very timely in its launch. Deep tech innovations are playing critical roles in the rapid advancement of semiconductors, electronics, robotics, AI, manufacturing, energy infrastructure, space tech, and life sciences. National GRIP streamlines the creation of deep tech start-ups in Singapore, enabling them to hone their business plans, build founding teams, raise seed financing, and formulate collaboration strategies with industry players.” National GRIP offers venture capital firms opportunities to partner and support these start-ups, thus not only enhancing the success rate of local deep tech start-ups but also attracting deep tech entrepreneurs and talent from beyond Singapore. It's a privilege for my firm and I to be closely associated with the GRIP community," he added.

Co-founders of Forte Biotech, Mr Yong Kit (left) with Michael Nguyen (right).

Many aspiring start-ups and founders among NUS GRIP 2.0 alumni

NUS GRIP 2.0 has supported researchers and entrepreneurs in transforming university research into market-ready innovations. Since its inception in 2018, NUS GRIP 2.0 has nurtured nearly 170 start-up teams, with around 100 successfully evolving into spin-offs, collectively raising almost S$65 million in external funding.

Among the start-ups is Kit Yong, Founder of Forte Biotech and former NUS GRIP 2.0 participant, who was also recognised in the Forbes 30 Under 30 list for 2024. Sharing his perspectives on the programme's potential, Kit said that the combined cachet of National GRIP, alongside the 'Made in Singapore' brand, lends significant weight and visibility to start-ups, especially when expanding their venture in overseas markets. He added that it is easier to make an impact together when Singaporean brands band together and venture overseas.

When asked what advice he would offer aspiring start-ups, Kit highlighted the importance of achieving product-market fit. “Developing technology just for the sake of it isn’t sufficient. It's crucial to align with market demands and ensure the product has a meaningful purpose.”

Participants engaged in lively discussions at NUS Enterprise's GRIP booth during SWITCH, exploring innovative ideas and opportunities.

As National GRIP gears up for its launch next year, Singapore's start-up ecosystem is set for further growth, advancing the nation's role as a leader in deep tech innovation and entrepreneurship. For more information on how to participate, prospective founders and teams can visit the National GRIP website.


New from: https://news.nus.edu.sg/new-national-graduate-research-innovation-programme-to-foster-start-ups-from-singapores-autonomous-universities-and-research-institutes/