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http://www.straitstimes.com/Breaking+News/Singapore/Story/STIStory_385880.html
21 projects get $8m grants
By Elizabeth Wilmot
Spring Singapore chairman Philip Yeo (left), who gave out the awards, said the downturn could be seen as 'an opportunity for entrepreneurs.'
IDENTIFYING the geographical origin of timber to counter illegal cross-border smuggling and the development of cutting edge next-generation firewalls for computer networks.
These are just two of the innovative projects awarded generous funding by Spring Singapore on Thursday.
They were among 21 winning projects selected from 220 submissions under the Technology Enterprise Commercialisation Scheme (TECS). In total, they were granted about $8 million in funding support. This is the second batch of winners under TECS. Last year, 17 projects were awarded a total of $6 million in grants.
TECS was launched in April last year by Spring to provide technology start-ups and enterprising public sector researchers with early-stage funding support. It aims to provide $75 million in grants to about 100 projects in five years.
Proposals should come from areas such as electronics, photonics and device technologies, and biomedical sciences.
This year, a new sector - Information and Communications Technology (ICT) - was added, and more than half of the submissions came from ICT.
Spring Singapore chairman Philip Yeo, who gave out the awards, said the downturn could be seen as 'an opportunity for entrepreneurs with innovative ideas to get ahead of the competition, and be in a good position during the next upturn'.
Mr Yeo also had good news for future applicants of the scheme.
'Moving forward, instead of periodic grant calls, Spring will accept applications all year round. Entrepreneurs and start-ups can submit their proposals to Spring at any time. This will allow the scheme to be more responsive to entrepreneurs' and start-ups' needs,' he said.
Details of the scheme can be found at http://www.spring.gov.sg/tecsportal/
21 projects get $8m grants
By Elizabeth Wilmot
Spring Singapore chairman Philip Yeo (left), who gave out the awards, said the downturn could be seen as 'an opportunity for entrepreneurs.'
IDENTIFYING the geographical origin of timber to counter illegal cross-border smuggling and the development of cutting edge next-generation firewalls for computer networks.
These are just two of the innovative projects awarded generous funding by Spring Singapore on Thursday.
They were among 21 winning projects selected from 220 submissions under the Technology Enterprise Commercialisation Scheme (TECS). In total, they were granted about $8 million in funding support. This is the second batch of winners under TECS. Last year, 17 projects were awarded a total of $6 million in grants.
TECS was launched in April last year by Spring to provide technology start-ups and enterprising public sector researchers with early-stage funding support. It aims to provide $75 million in grants to about 100 projects in five years.
Proposals should come from areas such as electronics, photonics and device technologies, and biomedical sciences.
This year, a new sector - Information and Communications Technology (ICT) - was added, and more than half of the submissions came from ICT.
Spring Singapore chairman Philip Yeo, who gave out the awards, said the downturn could be seen as 'an opportunity for entrepreneurs with innovative ideas to get ahead of the competition, and be in a good position during the next upturn'.
Mr Yeo also had good news for future applicants of the scheme.
'Moving forward, instead of periodic grant calls, Spring will accept applications all year round. Entrepreneurs and start-ups can submit their proposals to Spring at any time. This will allow the scheme to be more responsive to entrepreneurs' and start-ups' needs,' he said.
Details of the scheme can be found at http://www.spring.gov.sg/tecsportal/
