The Singapore University of Technology and Design (SUTD) has signed an agreement with six venture capital (VC) firms to boost the university’s entrepreneurial ecosystem and nurture local startups.
The six VC firms are BeaconRock Investments, which focuses on private equity (PE) and VC deals, crowdfinance platform FundedHere, Fund Singapore, Raffles Venture Partners, RIA Venture Capital; and Velocity, a Singapore-based business acceleration programme supported by ACP Pte. Ltd.
SUTD is building its internal infrastructure to provide more resources to students exploring entrepreneurial ventures.
The collaboration with these six partner organisations will provide more opportunities for students to receive support from potential investors and mentorship from the industry, with special focus in areas such as healthtech, fintech, edtech, Big Data and Internet of Things.
The collaboration will see SUTD students and startups have the opportunity to interact with these partners through entrepreneurship-related activities, such as StartUp Fiesta, SUTD 10K Challenge, Create4Good, Startup Pitch Day, StartSomething@SUTD, etc.
The firms in the partner network will also establish a work placement programme for selected SUTD students as well as mentor promising startups.
SUTD has worked hard to cultivate a strong entrepreneurship ecosystem for students, with its Office of Technology and Enterprise Management to support students’ startup ventures.
Recently, this was further complemented through the launch of the SUTD Technology Entrepreneurship Programme (STEP), which is an integrated 4.5-year programme, where students graduate with a Bachelor of Engineering or Science and a Master of Science in Technology Entrepreneurship for students with a strong interest in entrepreneurship.
Dr Wong Woon Kwong, Director of SUTD’s Office of Technology and Enterprise Management: “The establishment of the MoUs demonstrates the commitment of SUTD, through its Entrepreneurship Centre, to provide the SUTD community with a strong startup ecosystem to better support them in their spinoff aspirations and as a result, create more technologically grounded startups in Singapore.”