SMART Innovation Center awarded five-year NRF grant for new deep tech ventures

The Singapore-MIT Alliance for Research and Technology (SMART), MIT’s research enterprise in Singapore has announced a five-year grant awarded to the SMART Innovation Center (SMART IC) by the National Research Foundation Singapore (NRF) as part of its Research, Innovation and Enterprise 2025 Plan. The SMART IC plays a key role in accelerating innovation and entrepreneurship in Singapore and will channel the grant toward refining and commercializing developments in the field of deep technologies through financial support and training.

Singapore has recently expanded its innovation ecosystem to hone deep technologies to solve complex problems in areas of pivotal importance. While there has been increased support for deep tech here, with investments in deep tech startups surging from $324 million in 2020 to $861 million in 2021, startups of this nature tend to take a longer time to scale, get acquired, or get publicly listed due to increased…
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