SGInnovate and NUS Unit to Boost Deep Tech in Singapore | SGInnovate

SGInnovate and NUS Unit to Boost Deep Tech in Singapore

Monday, June 10, 2019

The initiative will involve supporting researchers in the field and helping them take their Quantum-based innovations to market.

SGInnovate, a private-limited company wholly owned by the Government, aims to support entrepreneurs in what is called the Deep Tech sector.

Quantum science uses the Quantum properties of particles - the ways the components of matter and light behave and interact with each other - to perform operations that are more precise, fast or efficient than can be achieved by other means.

Quantum applications can be seen in clocks that can keep precise time using the specific frequencies of individual atoms, technology that is essential to global positioning systems, for instance.

SGInnovate recently invested in three Quantum technology startups. One uses a form of Quantum technology to build systems for navigation and exploration. The technology enables the systems to work reliably and accurately everywhere.

Its new partnership with the Centre for Quantum Technologies (CQT) will last two years, as outlined in a memorandum of intent signed yesterday.

It will assist local researchers working in the Quantum technology field to commercialise their research into industry solutions that can be scaled up.

SGInnovate Founding Chief Executive Steve Leonard said: "We want to help entrepreneurial scientists working with Quantum technologies to build commercially successful startups. We also target to reach over 2,000 individuals in the wider Deep Tech community with various outreach activities, so more people can learn about and understand the possibilities of Quantum technologies."

Professor Artur Ekert, founding director of the CQT, added: "Together, we aim to catalyse the translation of our scientific advances into technologies that will benefit the economy and society."

The centre will introduce researchers who are interested in exploring startups to SGInnovate.

SGInnovate will provide coaching and support so they can launch and expand their startups.

The company's support could also include raising investment funds from venture capital firms.

Original article: The Straits Times

Topics: Investments, Quantum Technologies

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