SMART Innovation Center awarded five-year NRF grant for new deep tech ventures
By providing researchers with financial and strategic support from the early stages, the Innovation Center hopes to bring new and disruptive technologies to market.
Sept. 13, 2022 • 8 min • Source
The Singapore-MIT Alliance for Research and Technology (SMART), MIT’s research enterprise in Singapore has announced a five-year grant awarded to the SMART Innovation Center ( SMART IC ) by the National Research Foundation Singapore (NRF) as part of its Research, Innovation and Enterprise 2025 Plan. The SMART IC plays a key role in accelerating innovation and entrepreneurship in Singapore and will channel the grant toward refining and commercializing developments in the field of deep technologies through financial support and training.
Singapore has recently expanded its innovation ecosystem to hone deep technologies to solve complex problems in areas of pivotal importance. While there has been increased support for deep tech here, with investments in deep tech startups surging from $324 million in 2020 to $861 million in 2021 , startups of this nature tend to take a longer time to scale, get acquired, or get publicly listed due to increased time, labor, and capital needed. By providing researchers with financial and strategic support from the early stages of their research and development, the SMART IC hopes to accelerate this process and help bring new and disruptive technologies to the market.
“SMART’s Innovation Center prides itself as being one of the key drivers of research and innovation, by identifying and nurturing emerging technologies and accelerating them towards commercialization,” says Howard Califano, director of SMART IC. “With the support of the NRF, we look forward to another five years of further growing the ecosystem by ensuring an environment where research — and research funds — are properly directed to what the market and society need. This is how we will be able to solve problems faster and more efficiently, and ensure that value is generated from scientific research.”
Set up in 2009 by MIT and funded by the NRF, the SMART IC furthers SMART’s goals by nurturing promising and innovative technologies that faculty and research teams in Singapore are working on. Some emerging technologies include, but are not limited to, biotechnology, biomedical devices, information technology, new materials, nanotechnology, and energy innovations.
Having trained over 300 postdocs since its inception, the SMART IC has supported the launch of 55 companies that have created over 3,300 jobs. Some of these companies were spearheaded by SMART’s interdisciplinary research groups, including biotech companies Theonys and Thrixen, autonomous vehicle software company nuTonomy, and integrated circuit company New Silicon. During the RIE 2020 period, 66 Ignition Grants and 69 Innovation Grants were awarded to SMART’s researchers, as well as faculty at other Singapore universities and research institutes.
The following four programs are open to researchers from education and research facilities, as well as institutes of higher learning, in Singapore:
Innovation Grant 2.0: The enhanced SMART Innovation Center’s flagship program, the Innovation Grant 2.0, is a gated three-phase program focused on enabling scientist-entrepreneurs to launch a successful venture, with training and intense monitoring across all phases. This grant program can provide up to $800,000 Singaporean dollars and is open to all areas of deep technology (engineering, artificial intelligence, biomedical, new materials, etc). The first grant call for the Innovation Grant 2.0 is open through Oct. 15. Researchers, scientists, and engineers at Singapore’s public institutions of higher learning, research centers, public hospitals, and medical research centers — especially those working on disruptive technologies with commercial potential — are invited to apply for the Innovation Grant 2.0.
I2START Grant : In collaboration with SMART, the National Health Innovation Center Singapore, and Enterprise Singapore, this novel integrated program will develop master classes on venture building, with a focus on medical devices, diagnostics, and medical technologies. The grant amount is up to S$1,350,000. Applications are accepted throughout the year.
STDR Stream 2 : The Singapore Therapeutics Development Review (STDR) program is jointly operated by SMART, the Agency for Science, Technology and Research (A*STAR), and the Experimental Drug Development Center. The grant is available in two phases, a pre-pilot phase of S$100,000 and a Pilot phase of S$830,000, with a potential combined total of up to S$930,000. The next STDR Pre-Pilot grant call will open on Sept. 15.
Central Gap Fund : The SMART IC is an Innovation and Enterprise Office under the NRF’s Central Gap Fund. This program helps projects that have already received an Innovation 2.0, STDR Stream 2, or I2START Grant but require additional funding to bridge to seed or Series A funding, with possible funding of up to S$5 million. Applications are accepted throughout the year.
The SMART IC will also continue developing robust entrepreneurship mentorship programs and regular industry events to encourage closer collaboration among faculty innovators and the business community.
“SMART, through the Innovation Center, is honored to be able to help researchers take these revolutionary technologies to the marketplace, where they can contribute to the economy and society. The projects we fund are commercialized in Singapore, ensuring that the local economy is the first to benefit,” says Eugene Fitzgerald, chief executive officer and director of SMART, and professor of materials science and engineering at MIT.
SMART was established by MIT and the NRF in 2007 and serves as an intellectual and innovation hub for cutting-edge research of interest to both parties. SMART is the first entity in the Campus for Research Excellence and Technological Enterprise . SMART currently comprises an Innovation Center and five Interdisciplinary Research Groups: Antimicrobial Resistance, Critical Analytics for Manufacturing Personalized-Medicine, Disruptive and Sustainable Technologies for Agricultural Precision, Future Urban Mobility, and Low Energy Electronic Systems.
The SMART IC was set up by MIT and the NRF in 2009. It identifies and nurtures a broad range of emerging technologies including but not limited to biotechnology, biomedical devices, information technology, new materials, nanotechnology, and energy innovations, and accelerates them toward commercialization. The SMART IC runs a rigorous grant system that identifies and funds promising projects to help them de-risk their technologies, conduct proof-of-concept experiments, and determine go-to-market strategies. It also prides itself on robust entrepreneurship boot camps and mentorship, and frequent industry events to encourage closer collaboration among faculty innovators and the business community. SMART’s Innovation grant program is the only scheme that is open to all institutes of higher learning and research institutes across Singapore.Reprinted with permission of MIT News