3 NRF TIS Incubators Invests In 7 Startups
August 26, 2010 by Gwendolyn Regina T
We have been waiting with bated breath for the first round of investments coming from the National Research Foundation (NRF) Technology Incubation Scheme’s (TIS) incubators. Just revealed, only three out of the seven have made investments: Clearbridge Accelerator, Neoteny Labs and Social Slingshot; in a total of seven startups.
Clearbridge Accelerator
Clearbridge BioMedics: A National University of Singapore (NUS) spin-off company, we are leveraging on a breakthrough patented invention using a microfiltration biochip to detect and isolate rare circulating tumour cancer cells (CTCs) from whole patient blood based on the biomechanical differences of cells.
Clearbridge NanoMedics: Clearbridge NanoMedics (CBN) is a National University of Singapore (NUS) spin-off. CBN will focus on developing a nanofibre mesh with applications in the cosmetic skin-care and wound management markets.
Neoteny Labs
Socialutions: Socialutions is a technology company that creates innovative Internet and web platforms that promote progressive social technologies. The company’s main project CreationMix is a web platform that taps into the growing Creative Commons movement by providing a portal for digital content makers to not only upload and share their work but also license certain rights for commercial use (thereby incentivizing content creators to use Creative Commons).
Foound: Foound recently released its easy-to-use mobile application which lets people organize hangouts with friends. (Catch up on foound’s history.)
Social Slingshot
Artyii: Artyii is an invite-only interactive online platform housing the ecosystem of Asian artists, international art buyers, galleries, art schools and businesses that have an affiliation with art.
ShoppingLifestyle: ShoppingLifestyle.com is a female web portal that features extensive beauty, entertainment, fashion, health and family resources for the modern woman as well as a place for women to share support and advice.
Socialico: Socialico Pte Ltd is a digital platform developer of simple, social fantasy prediction games powered by virtual stock markets. (An interview with Keith Ng, Co-Founder of Socialico.)
About The Technology Incubation Scheme
The TIS is one of several initiatives under the $360 million National Framework for Innovation and Enterprise (NFIE) announced by the Prime Minister in March 2008. It aims to nurture early stage high tech start-up companies in Singapore. The TIS provides up to 85% co-investment in each start-up company identified by the selected Incubator Managers, up to S$500,000 per company. The Incubator Manager needs to invest at least the balance of 15% as well as provide guidance and mentoring to the aspiring entrepreneurs under the terms of agreement with NRF. As an incentive, the Incubator Manager has an option upfront to buy out NRF’s share in the invested start-ups within 3 years of investment.
Find out more about SGE’s research arm: SGE Insights, providing customized in-depth research reports to help you navigate the business of technology in Asia.
About The Author
Gwendolyn Regina T - Co-Founder and Editor-in-Chief
Gwen is the co-founder and editor-in-chief of SGE. Previously, she was a partner of early stage technology investment firm, Thymos Capital and she has had two exits, one of which is iHipo. She is also an investor in Padlet, a Y-Combinator startup. Gwen also sits on the Board of Advisors for the Singapore Innovation & Productivity Institute, Steering Commmittee for the Singapore Infocomm Technology Federation Awards 2013, and Board of Advisors for Social Media Week 2013. A frequent public speaker, mentor and judge at various startup bootcamps, events and competitions, Gwen loves meeting founders, developers, designers and scientists across all ages. An alumnus of the National University of Singapore and its University Scholars Programme, Gwen also spent some time in Silicon Valley and is a graduate of the NUS-Stanford University overseas college programme. She is also a mentor at Polish tech startup incubator Gamma Rebels, the Singapore curator for US-headquartered StartupDigest and the Singapore Ambassador for the Sandbox Network - the leading global network of innovators under 30. Gwen has also been a Worldwide Judge for Imagine Cup - the premier student technology competition helmed by Microsoft. She has also spoken in Hong Kong at one of its largest youth conferences, MaD Asia, and was recently in Austria to help envision the future of the country's economy in 2032 on invitation from an Austrian governmental organization. Gwen speaks 3.25 languages, loves physics, travelling, dance and adventure sports. She can be found on LinkedIn and Twitter.
Read other posts by Gwendolyn Regina T
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