SINGAPORE

Photo: DP Architects, Singapore

NATIOnAL FRAMEWORK fOR RESEARCH, InnOVATIOn AnD EnTERPRISE

The National Framework for Innovation and Enterprise (NFIE) is a comprehensive national programme to grow innovation and entrepreneurship in Singapore, especially through the formation of start-up companies to commercialise cutting-edge technologies developed out of R&D labs. NFIE aims to encourage universities and polytechnics to pursue academic entrepreneurship and turn their R&D results into commercial products for the market place. It also helps entrepreneurs start up technology-based companies.

Chairman of NRF, DPM Teo Chee Hean, shared some findings from a survey on start-ups in Singapore at Techventure 2011. Photo: NRF

The Biofactory is a TIS incubator for medtech companies. Photo: NRF Mr Theodore Tan, CEO of The Biofactory: The TIS scheme will definitely help accelerate the growth of the biomedical sector in Singapore an area where a lot of research investments have already been made. We are confident of taking Singapores biomedical industry to great heights.

TIS incubator Clearbridge Accelerator briefing DPM Teo on one of its portfolio companies during Techventure 2011. Photo: NRF

The NFIE currently supports the following initiatives:

NFIE Schemes
Early Stage Venture Fund (ESVF) The NRF invests S$10 million on a 1:1 matching basis, to seed several venture capital (VC) funds that invest in Singapore-based early stage high-tech companies. As an incentive, the VCs are given an option to buy out NRFs share of the fund within five years by returning NRFs capital with interest. Disruptive Innovation (DI) Incubator This scheme supports a business incubator which invests in Singapore-based start-ups demonstrating disruptive innovation. This is based on the innovation methodology of Harvard professor Clayton Christensen. Proof-of-Concept Grants (POC) This grant of up to S$250,000 is for technology proofof-concept development projects. NRF administers the scheme for university and polytechnic researchers while SPRING Singapore (the government agency responsible for small businesses) manages a parallel scheme for companies. Technology Incubation Scheme (TIS) The NRF co-invests up to 85% (capped at S$500,000) in Singapore-based start-up companies that are incubated by selected Technology Incubators who provide their investee companies with physical space, mentorship and guidance. As an incentive, the incubator operators are given an option to take over NRFs stake in the startup companies within three years by repaying NRFs investment with interest. University Innovation Fund (UIF) This provides funding to the universities for approved innovation-related activities.

Translational R&D Grants for Polytechnics (TRD) These development grants of up to S$500,000 are given to researchers in the polytechnics to carry out translational research using intellectual property (IP) from the universities and research institutes. National Framework of IP Principles This is a framework to speed up the licensing of IP from the universities and research institutes to industry.

Innovation and Enterprise Institute (IEI) The IEI is a national centre that will propose policies and initiatives to encourage innovation in both public and private sectors. It is expected to be a thought leader for innovation, able to galvanise the various innovation and enterprise activities in Singapore. Innovation Vouchers Scheme This is a scheme where local enterprises are given vouchers that are redeemable for R&D and technical services from the IHLs and public research institutes. This scheme is operated by SPRING Singapore.

Global Entrepreneur Executives (GEE) This is a co-investment scheme to get high-growth and high-tech venture-backed companies with Global Entrepreneurial Executives1 (GEEs) in ICT, medtech and cleantech to relocate to Singapore. NRF will invest up to US$3m in matching funding to eligible companies in the form of convertible notes.

For more information on the National Framework for Innovation and Enterprise, refer to: http://www.nrf.gov.sg/nrf/otherProgrammes.aspx?id=1206

G  EEs refer to entrepreneurs with significant operating experience and track records (in a leadership capacity) in the growth of successful start-up companies. Specifically, they should have played a leadership role in a companys growth from start-up to at least US$100 million in revenue or company valuation.

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