As part of the Research, Innovation and Enterprise (RIE) 2015 plan, the government has approved the establishment of Sector Specific Accelerators (SSA) to identify, invest and grow start-ups in strategic but nascent sectors, starting with the Biomedical Science Sector.
Nascent sectors are characterised by few local enterprises; limited pool of domain experts; and absence of early stage investors. While these sectors received significant Research and Development funds, there are insufficient enterprises to commercialise the intellectual property resulting from the R&D; hence the economic benefits could not be realised. The SSA approach was deemed an effective way to address the identified issues.
S$40 million has been set aside to pilot the SSA initiative via the Biomedical Science Accelerator (BSA) with an initial focus on the Medical Technology (MedTech) subsector. Up to two BSA Operators will be appointed and SPRING SEEDS Capital (SSC), the manager of the BSA Programme, will co-invest into the MedTech start-ups identified by them.
SSC is inviting interested parties to submit proposals to operationalise the Biomedical Science Accelerator Programme.
The BSA Call is open to all local and overseas parties who are able to demonstrate financial commitment, domain expertise and experience to nurture and commercialise Singapore-based MedTech start-ups.
Click here for the details of the Call-for-Proposal.
The proposal submission date has been extended to
30 September 2011, Friday.
A briefing session for interested BSA applicants was held on 13 June 2011 at SPRING Singapore.
Click here for the briefing presentation slides.
Click here for the briefing FAQs.