In the hopes of helping start-ups and small and medium-sized enterprises (SMEs) tap on innovative technologies and capital more efficiently, Singapore Exchange (SGX) partnered with Agency for Science, Technology and Research (A*STAR)'s commercialisation arm ETPL for a two-year memorandum of understanding (MOU).
During the two-year deal, SGX and ETPL will identify firms with growth potential and help them access growth capital from private or public capital markets in Singapore efficiently. The partnership will also aid start-ups and SMEs in translating their inventions and intellectual capital into marketable products, processes and services. Enterprises which will be included would be able to utilise A*STAR's multidisciplinary research and development (R&D) capabilities spanning across the biomedical sciences and physical sciences and engineering. They will also receive ETPL's guidance in productisation and business development.
The two institutions will also raise awareness amongst these firms on technology transfer opportunities in the city-state. SGX will be facilitating forums on how identified firms can raise capital and use Singapore as a testbed and springboard into the Asia-Pacific region. Financial education will also be a part of the deal.
The partnership is targeted at companies in the technology sector, including subsectors such as medtech, biotech, cleantech, digital tech and consumer tech.
SGX Head of Equities and Fixed Income Chew Sutat said in a press statement that the partnership will foster greater information sharing amongst financial and technology communities and allow tech companies to develop an appreciation of leveraging Singapore's capital markets as a source of funding.
"Our partnership with ETPL is another step towards our vision of supporting innovative and high-potential businesses, bringing their ideas, technologies and growth plans to fruition. By marrying our capital markets expertise with ETPL's technology commercialisation capabilities, we look forward to playing a part in nurturing competitive and future-ready companies and strengthening Singapore's position as a technology hub," he said in a statement.
Six market professionals have committed to come on board the ship and provide support to the identified firms. They are the Catalist Sponsors SAC Capital Private Limited and UOB Kay Hian Private Limited, law firms Virtus Law LLP and WongPartnership LLP, and audit firms Deloitte Singapore and PwC Singapore.