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News Details | 12-Nov-2008

S$10 million Entrepreneurship Education Fund for NTU made possible by leading businessman Chua Thian Poh


Nanyang Technological University (NTU) marks the launch of the Chua Thian Poh Entrepreneurship Education Fund today. The $10 million fund, made possible by a gift from visionary business leader Mr Chua Thian Poh, with dollar-for-dollar matching by the Singapore government, will go towards the fostering of entrepreneurship and innovation education in the Nanyang Technological University (NTU). Mr Chua has been contributing generously to the worthy cause of education over the years.
 
The gift marks a key milestone in Mr Chua’s generous legacy towards education and underscores his firm support for NTU’s commitment in developing future generations of enterprising leaders.  The fund will be used to take NTU’s Master of Science in Technopreneurship and Innovation Programme (MSc TIP) to the next level of research and teaching of entrepreneurship.

Mr Chua’s gift will avail the resources for the development of a new paradigm to address the current complex issues confronting entrepreneurship and innovation.  This will be done through a holistic strategy of research, development and commercialisation of Singapore’s intellectual property. 
 
In supporting these aims, Mr Chuan Thian Poh said “I firmly believe in education and the nurturing and fostering of this passion for learning in the younger generation.  I am glad that I am in a position to be able to help shape their growth through this worthy contribution.  Apart from imparting the necessary knowledge and skills needed to contribute to the growth of the economy, it is important that education instil the right values to students.”
 
The S$5 million fund, together with an additional S$5 million matching from the government, will be endowed to support four key areas of the MSc TIP, namely the Chua Thian Poh Distinguished Entrepreneurship Speaker Series, the Chua Thian Poh Overseas Fellowship, the Chua Thian Poh Venture Fund and the Chua Thian Poh Overseas Immersion Award.
 
The launch of the fund is graced by Mr Wong Kan Seng, Deputy Prime Minister and Minister for Home Affairs and attended by the following special guests:
• Dr Lee Boon Yang, Minister for Information, Communication and the Arts, 
• Dr Ng Eng Hen, Minister for Education and Second Minster for Defence, and
• Mr Lee Yi Shyan, Minister of State for Trade and Industry
 

NTU’s Master of Science in Technopreneurship and Innovation Programme
 
This programme has grown from strength-to-strength since it was first offered as a Graduate Diploma programme in 2002, helping to meet Singapore’s need for education in entrepreneurship and technology innovation.
 
The programme has had a positive impact on entrepreneurship in Singapore as shown by the results of a recent survey – over one third of MSc TIP graduates go on to start new business ventures and others take on business-related employment, for instance, by joining small-and-medium enterprises (SMEs) to help them grow their businesses, or by working in corporate entrepreneurship in multi-national companies (MNCs).
 
Conducted over a 12-month period, the MSc TIP is available in either English or Chinese and participants can expect a dynamic learning experience, where they will put together start-up plans for their businesses and pitch their business ideas to actual venture capitalists to secure start-up funds. From the curriculum, participants will be equipped with the competency to start up, plan and secure funding for new ventures.  They can also experience what it takes to manage and grow a business in the global market place, as the programme is conducted in four countries – Singapore, the United States, Malaysia and China.

Mr Ng Hing Lung, Managing Director of Gladys Selection and a current participant of the programme, said “The MSc TIP brings me to a high level of thinking in Technopreneurship and enlightens me with new analytical skills towards a dynamic work environment.”
 
To maintain the quality of interaction, only 50 places are offered annually in both the MSc TIP (English) and MSc TIP (Chinese) programmes.
 
 
Taking the MSc TIP to a higher plane
 
To further extend and enhance the benefit of the MSc TIP, the gift of S$5 million will be endowed to support the following programmes:
 
• Chua Thian Poh Distinguished Entrepreneurship Speaker Series
The Chua Thian Poh Distinguished Entrepreneurship Speaker Series will benefit the MSc TIP participants as with the funding, leading prominent entrepreneurs can be drawn to these sessions to further inspire entrepreneurship in Singapore.

• Chua Thian Poh Overseas Fellowship
The Fellowship will be established so that current faculty may pursue fellowships overseas to better benchmark themselves against their peers.  The faculty can also tap on this platform for information exchange and exciting learning opportunities.

• Chua Thian Poh Venture Fund
The Chua Thian Poh Venture Fund will be set up to encourage MSc TIP graduates to start their own businesses.  With more venture capital funds made available, students will be more confident to take the step in launching their own businesses upon graduating from the programme.

• Chua Thian Poh Overseas Immersion Award
The Chua Thian Poh Overseas Immersion Award is established to allow more participants of the MSc TIP to take advantage of the global immersion stints which gives a distinct edge to the programme.  With this award, the participants can gain the vital overseas exposure through study visits abroad and sharpen their business acumen across international markets and contexts.


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Media contact
Jinny Claire Sim, Assistant Director, Corporate Communications Office
Tel: 6790 6687; Mobile: 9738 8995; Email: jinnysim@ntu.edu.sg

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