The Singapore government has announced new plans to drive the commercialisation of deep tech projects developed by startups and research agencies, as well as help polytechnic students and alumni grow their business ventures.
Heng Swee Keat, minister of finance and deputy chairman of the National Research Foundation, unveiled the slew of initiatives at this year’s SWITCH or Singapore Week of Innovation and Technology, a government-backed tech innovation conference, during his opening address.
Heng said universities and polytechnics are ideal breeding grounds for fresh ideas and entrepreneurial talent. To further cultivate this environment, the government will launch the National Lean LaunchPad Singapore, a scaled-up version of the Lean LaunchPad Programme, which debuted in 2013. The 10-week programme was first piloted at the NUS Enterprise and was supported by a three-year grant from the Ministry of Education. Since then, the programme has helped develop over 100 early-stage technologies.