Nu Skin Enterprises (NUS) Backs S$150M Initiative to Revitalize Tech Start-Ups Amid VC Decline
- NUS launches a S$150 million initiative to support tech start-ups amid declining venture capital investments in Asia.
- The NUS VC Programme allocates S$50 million to venture capital firms and aims to empower university-affiliated start-ups.
- This initiative positions NUS as a leader in tech innovation, enhancing collaboration between academic research and market ventures.
NUS Launches S$150 Million Initiative to Support Tech Start-Ups Amid VC Decline
In a decisive move to revitalize the tech start-up ecosystem, the National University of Singapore (NUS) announces the launch of the NUS VC Programme, committing S$150 million (US$116 million) to address the significant decline in venture capital investments across Asia. The initiative comes at a critical time, as early-stage funding in the region has plummeted to under S$38 billion (US$29 billion) in 2024, the lowest level seen in a decade. NUS aims to bridge the funding gap and support early-stage companies, particularly those emerging from its National Graduate Research Innovation Programme (National GRIP), which faces unique challenges in securing necessary financial backing.
NUS President Professor Tan Eng Chye underscores the importance of this programme, highlighting its role as a vital enabler for transforming lab-based innovations into viable market ventures. The NUS VC Programme will allocate S$50 million (US$39 million) to select venture capital firms over the next three years, ensuring that start-ups receive not only the financial support they need but also essential mentorship and guidance. With the backing of established firms like Granite Asia, which specializes in breakthrough technologies, and 4BIO Capital, focused on life sciences, the initiative is poised to enhance the capabilities of nascent companies in navigating the complexities of research and development.
In addition to direct investments, NUS plans to co-invest S$100 million (US$78 million) alongside its VC partners, specifically targeting start-ups affiliated with the university. This strategic dual approach aims to create a robust support system that combines capital infusion with access to invaluable expertise and networks. By fostering an environment conducive to innovation and collaboration, the NUS VC Programme seeks to empower the next generation of tech entrepreneurs and mitigate the challenges posed by the current funding landscape.
The NUS VC Programme emerges as a timely response to the prevailing venture capital landscape, which has seen total investments in Asia drop to S$85 billion (US$66 billion). The initiative not only aims to stimulate economic growth by supporting start-ups but also reinforces NUS's commitment to advancing research and innovation in Singapore and beyond. As the region navigates a prolonged funding winter, this investment represents a significant step towards revitalizing the tech start-up ecosystem and ensuring that groundbreaking ideas transition from research labs to the marketplace.
Through this initiative, NUS positions itself as a key player in the tech innovation space, fostering an entrepreneurial spirit and securing a future where academic research translates into real-world applications. The university's proactive approach may inspire similar initiatives across the region, as stakeholders recognize the need for collaborative efforts to sustain growth in the tech sector.
