NTU and IP firm 360ip set up fund management venture
By Digital News Asia October 3, 2013
- Tech commercialisation, investment and fund management company to be based in Singapore
- New S$5.6 million centre set up to aid SMEs in developing innovative solutions and technologies
NANYANG Technological University (NTU) and 360ip, a company belonging to Batelle, the world’s largest non-profit independent R&D organisation, have launched TechBridge Ventures to support small and medium enterprises (SMEs) in Singapore.
The technology commercialisation, investment and fund management company would have its headquarters in Singapore, and envisions operations across Asia and in the United States.
Housed at NTU, TechBridge Ventures will allow SMEs to mitigate technology risks and leverage resources through industry partnerships – capabilities previously available only to large firms.
TechBridge will also enable SMEs to penetrate international markets, NTU said in a statement.
“TechBridge Ventures will boost support for our SMEs that possess high growth potential and the ability to make a strong impact in the marketplace,” said NTU Innovation chief executive officer Dr Lim Jui.
“In this way, made-in-Singapore innovations can more quickly meet Asia’s growing demand for advanced clean technology and more effectively and efficiently penetrate the global market,” he added.
Pay-per-use service model
TechBridge Ventures will utilise a pay-per-use service model and support infrastructure, thus providing both new and emerging SMEs with access to support services without having to establish their own in-house research facilities or to spend resources on manpower or equipment.
Under the partnership agreement between NTU and 360ip, TechBridge Ventures will offer access to NTU’s world-class experts and state-of-the-art research facilities, IP and support, in addition to 360ip’s direct investment funds as well as its technology advisory services and commercialisation management.
These SMEs can also leverage 360ip’s, and its parent company Battelle’s, international network with more than 200 research institutions and organisations worldwide.
SMEs will also be able gain access to grants and investment capital from the 360ip-managed investment funds, SPRING Singapore, private entities and investors to support their ventures.
“TechBridge Ventures will enable technology companies to deliver market-driven innovations and create significant value,” said Glenn Kline, TechBridge Ventures chairman as well as 360ip president and CEO.
“360ip and NTU each have exceptional track records of excellence in our respective fields and we are confident that this initiative will generate significant returns for the companies that engage with TechBridge Ventures,” he claimed.
Under the partnership, a new Centre for Open Innovation Development will be located at the NTU campus and which will be operational this month, the university said in a statement.
It comes with S$5.6 million funding from NTU, 360ip and SPRING Singapore, an agency under the Ministry of Trade and Industry responsible for helping Singapore enterprises grow.
The centre will support SMEs in intellectual property (IP) development, improve their success rate of research and development projects, support their international market access and collaboration, and accelerate the commercialisation of new products and services.
Key focus areas include clean tech, renewable energy, nano-materials and nanotechnology.
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