Singaporean urbanisation company Ascendas-Singbridge and the National University of Singapore’s NUS Enterprise announced today a Memorandum of Understanding to establish the city’s first deep technology innovation hub at Science Park 1.
‘Deep technology’ is usually defined as the development of startups and companies that build a technological solution that is not easily replicable because it is truly innovative and may be entirely unique.
The partnership is meant to strengthen NUS Enterprise’s corporate linkage by leveraging Ascendas-Singbridge’s global network. The goal is to increase collaboration between the university and corporates.
The plan hopes to bring vibrancy to the area by enticing deep tech companies, corporate accelerators and university researchers to be co-located in the district.
Announced at InnovFest unBound in Singapore, NUS Enterprise wants to draw relevant graduating startups from JTC Launchpad and build the Science Park’s reputation as a place for companies in the ‘growth stages’ of business. Located near the One-North/Ayer Rajah startup hub in Singapore, an ideal situation would see collaboration between the two districts to build up the community as a whole.
Today’s news, and the initial setup, is meant to kickstart a “world-class technology and entrepreneurship community in One-North and Singapore Science Park with the National University of Singapore.”
Science Park 1 was chosen as the location because of its proximity to both NUS and the National University Hospital (NUH), giving it easy access to the talent and resources of both institutions. Ascendas-Singbridge and NUS Enterprise want to form something of a bridge between the NUH and NUS resource pool and external players.