Plunify, a Singapore startup that brings microchip design to the cloud, announced this week that it has raised seed funding of SGD589k (USD484k) from Get2Volume and the National Research Foundation (NRF).
Get2Volume is an early stage technology investor and incubator, while NRF is a government organization that promotes R&D in the country.
Chip design is an inherently complex process requiring sizable computing power. What Plunify does is offload some of the most demanding tasks to the cloud, which can complete these tasks faster than traditional methods due to its parallel computing capabilities and flexibility. Read more
Yinglan Tan, head of projects at the National Research Foundation and author of Chinnovation, a book on Chinese innovators, has left the Singapore government organization to tackle a new challenge: Become venture partner at Sequoia Capital India.
He announced his new post, which is effective from July, on LinkedIn. He is still based in Singapore. Read more
Growing BiG Ideas, a four-part program that will introduce viewers to the tech entrepreneurship scene in Singapore, is inviting questions on its Facebook Page for Frank Levinson, managing director of the commercial incubator, Small World Group (see interview). Read more
This is the first article from the “Mistakes made, lessons learnt” series. Check out all the articles here.
Over the past few years, Singapore enjoyed some small celebrations in its startup scene. There has been some prominent acquisitions, as well as the setting up of new VC funds and places of gathering for like-minded entrepreneurs.
However, the brutal truth is that behind every news of success is a story of failure. As such, we decided to roll out a series called: “Mistakes made, Lessons learnt”. At SGE, we hope to do our part by enabling start-up members to learn from each other and collectively help put Singapore on the world map. Read more
The National Research Foundation has announced on June 12 an additional S$195 million in funding to spur R&D in the energy sector. Part of the funding will also go towards competitive grants for green startups. Read more
Social media monitoring firm ThoughtBuzz
has raised SGD500K (USD 380K) in funds under the Technology Incubation Scheme (TIS)
from Plug and Play Singapore
. Specializing in social media intelligence, ThoughtBuzz is able to sift through all the chatter on the world wide web, from Facebook, Twitter to news sites, to compile everything that is relevant to the client, analyse the sentiment of the comments and provide a detailed report on the insights gathered (read an interview
with the team from two years ago). Read more
Back in August 2009, the National Research Foundation (NRF) of Singapore announced a call for incubators to apply for a new Technology Incubation Scheme (TIS). The scheme, with its 85-15 (gov-incubator) funding split and attractive buyout options, favours the incubator who has the resources to fullfill its criteria and execute operations. When the call was announced, there were no specific number of incubators that NRF said they will appoint. It would all have to depend on the quality of incubators who applied. Now, 7 incubators have been selected. Here they are. Read more
In another move by the government to make up for the dearth of funds in Singapore, the National Research Foundation has issued a Call for Proposal for the new Technology Incubation Scheme (TIS). Modeled after Israel’s Technological Incubator Programme, NRF will co-invest up to 85% or S$0.5 million per startup, with an appointed incubator investing the rest (at least 15% of the total investment). Read more