NUS GRIP launches new initiative to help graduating cohort launch deep tech start-ups
NUS GRIP start-up, Magloy Tech, is founded upon NUS IP – a disruptive bioresorbable magnesium alloy technology, produced by a proprietary green manufacturing technique – to radically enhance orthopaedic fracture fixation procedures. Through GRIP MAKE, the university hopes to support the creation of more of such deep tech start-ups
Fresh graduates from NUS interested in creating their own start-ups can now explore turning NUS Intellectual Property (IP) into deep tech start-ups under GRIP MAKE, a newly launched initiative by the NUS Graduate Research Innovation Programme (NUS GRIP).
Part of the NUS Resilience and Growth Initiative – Entrepreneurship Traineeship programme, GRIP MAKE is designed to help teams develop viable business ideas based on the University’s world-class research, as well as boost the creation of high value deep tech ventures.
It builds on the existing successful NUS GRIP programme under the Industry Liaison Office, to help post-graduates and researchers develop deep tech companies using NUS IP. The GRIP programme has seen some 147 entrepreneurs form 56 start-ups since its inception in October 2018.
“With GRIP MAKE, we strive to help young graduates create their own start-up jobs, and equip them with the life-long skills to turn any deep tech intellectual property into a commercial business. This helps them create not just their own job, but high value jobs for others in Singapore too,” shared Ms Irene Cheong, Director of the NUS Industry Liaison Office.
Over the 12-month duration of the programme, all trainees will receive a monthly stipend and guidance on using design thinking frameworks to find new potential business applications of NUS IPs, conduct customer discovery and market validation, and build the Minimum Viable Product (MVP) through an iterative process.
Throughout the process, each team will be hand-held by a dedicated Commercial Champion and Master Engineers. The programme’s Commercial Champions are industry veterans and include C-level executives of technology companies, serial entrepreneurs and seasoned business executives.
“I’m excited to be a part of this programme, to be able to tap into my years of industry experience and insights to narrow in on valuable real-customer needs that NUS IP can help provide a solution to,” said Mr Yew Hock Meng, Managing Director of business consultancy company Wonwey Pte Ltd and a Commercial Champion for the GRIP MAKE Programme.
By NUS Enterprise