NTU and global IP firm 360ip to fuel growth of SMEs in Singapore
A new $5.6 million centre has been jointly set up to accelerate SMEs’ development of 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. This is a new joint venture that will transform the infrastructure supporting the growth and development of Singapore's small and medium enterprises (SMEs).
A new Centre for Open Innovation Development will be located at the NTU campus which will be operational this month. It comes with $5.6 million funding from SPRING Singapore, NTU and 360ip.
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. Among the key focus areas at the new Centre are clean tech, renewable energy, nano-materials and nanotechnology.
Innovation is at the heart of this new partnership between NTU and 360ip, an international technology commercialisation, investment and fund management company headquartered in Singapore and with 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.
Dr. Lim Jui, Chief Executive Officer of NTU Innovation, said, "This is an exciting collaboration between NTU and 360ip. By combining the strengths of two world-leading organisations at the forefront of science, technology and enterprise, TechBridge Ventures will boost support for our SMEs that possess high growth potential and the ability to make a strong impact in the marketplace.”
“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," Dr. Lim added.
Pay-per-use service model
Local SMEs will also benefit from greater efficiency through TechBridge Ventures' 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, to maximise commercial outcomes for SMEs. 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.
World-class business leaders helm TechBridge Ventures
With extensive expertise at its helm, TechBridge Ventures is ideally suited to support the growth and development of Singapore’s SMEs.
Mr. Glenn Kline, the Chairman of TechBridge Ventures and 360ip President & CEO, has more than 25 years of experience in venture capital investment, fund management, technology commercialisation and collaboration with high technology growth companies.
Sharing his vision for TechBridge Ventures, Mr. Kline said, “With its international industry-leading capabilities, TechBridge Ventures will enable technology companies to deliver market-driven innovations and create significant value. 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.”
Prior to founding 360ip, Mr. Kline was a General Partner at Battelle Ventures and its affiliate fund, Innovation Valley Partners. He also served as Managing Partner at Academy Funds, an early-stage venture-capital firm that he co-founded to focus on commercialising and spinning out of technologies from major research institutions.
During his tenure with BV/IVP and Academy, Mr. Kline, who holds an MBA in Finance from the Anderson Graduate School of Management at the University of California, Los Angeles, led investments in approximately 30 portfolio companies, which included start-ups in the areas of advanced materials, cleantech, information technology, life sciences and semiconductors.
Newly appointed TechBridge Ventures CEO Mr. Yehuda Yarmut has over 30 years management, investment and technological experience, including more than 16 years in start-up management, investment and technology transfer.
He was most recently the Director, Enterprise and Technology Development at NTU's Nanyang Innovation and Enterprise Office. He was among the pioneers leading the privatisation of incubators in Israel. Mr Yarmut holds a BSc and MSc in Agricultural Science from the Hebrew University of Jerusalem, Israel and an MBA in Strategy and Marketing from Erasmus University's Rotterdam School of Management in the Netherlands.
For more information,visit: techbridgeventures.com
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Feisal Abdul Rahman
Senior Assistant Director (Media Relations)
Corporate Communications Office
Nanyang Technological University
Tel: (65) 6790 6687
About Nanyang Technological University
A research-intensive public university, Nanyang Technological University (NTU) has 33,500 undergraduate and postgraduate students in the colleges of Engineering, Business, Science, and Humanities, Arts, & Social Sciences, and its Interdisciplinary Graduate School. It has a new medical school, the Lee Kong Chian School of Medicine, set up jointly with Imperial College London.
NTU is also home to world-class autonomous institutes – the National Institute of Education, S Rajaratnam School of International Studies, Earth Observatory of Singapore, and Singapore Centre on Environmental Life Sciences Engineering – and various leading research centres such as the Nanyang Environment & Water Research Institute (NEWRI), Energy Research Institute @ NTU (ERI@N) and the Institute on Asian Consumer Insight (ACI).
A fast-growing university with an international outlook, NTU is putting its global stamp on Five Peaks of Excellence: Sustainable Earth, Future Healthcare, New Media, New Silk Road, and Innovation Asia.
Besides the main Yunnan Garden campus, NTU also has a satellite campus in Singapore’s science and tech hub, one-north, and a third campus in Novena, Singapore’s medical district.
For more information, visit www.ntu.edu.sg
360ip was jointly established by Battelle Memorial Institute, the world’s largest independent research and development organization and Battelle Venture, the venture capital firm affiliated with Battelle. 360ip is an international technology commercialisation, investment and fund management company headquartered in Singapore with operations in China, Korea, Japan, Taiwan and the United States.
Battelle operates eight national laboratories around the world and has collaborations with over 200 universities and institutes worldwide, with a particular expertise in renewable energy, nano-technology and sustainable materials.
For more information, visit www.360ip.com