The National University of Singapore (NUS) is setting aside S$25 million (US$18.18 million) over the next five years to help its graduate students and research staff create tech startups. The initiative is part of the university’s new “innovation4.0 building”, launched Wednesday, which spans six stories and houses its 12 research entities, including the NUS Smart Nation Research Cluster and Cybersecurity Laboratory, as wells teams specialising in artificial intelligence (AI), data science, and analytics. Qoo10 to ‘renew focus’ on Singapore e-commerce market One of the earliest e-commerce market players in Singapore, Qoo10 is planning a new round of funding as it looks to refocus on the local market, which it says still offers significant growth potential. Read More The S$25 million fund aimed to tap the university’s own talent pool and would see NUS jointly establish 250 startups, focusing on “deep technologies”. The programme also was part of efforts to bring its scientific discoveries outside the lab and into the market, and “unlock the economic and social benefits” of the university’s inventions, said NUS President Tan Eng Chye. Under the programme, up to 50 projects would be funded each year, with successful candidates put on a three-month business validation and venture creation scheme. These participants would work with executives from tech companies to develop an operational business model, IP licensing and development plan, and go-to-market strategies to fuel their startup ideas. These inventors also would be guided by experienced staff to design and build their first prototypes as well as have… [Read full story]
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