8/13/2019 2pp Factsheet NFRIE 3May2012_v2

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SINGAPORE

The National Framework for Innovation and Enterprise (NFIE) is a comprehensive national programme to growinnovation and entrepreneurship in Singapore, especially through the formation of start-up companies to commercialisecutting-edge technologies developed out of R&D labs.

NFIE aims to encourage universities and polytechnics to pursue academic entrepreneurship and turn their R&D resultsinto commercial products for the market place. It also helps entrepreneurs start up technology-based companies.

N ATIONAL F RAMEWORK FOR R ESEARCH ,I NNOVATION AND E NTERPRISE

© Photo: DP Architects, Singapore

Chairman of NRF, DPM Teo Chee Hean, shared some ndingsfrom a survey on start-ups in Singapore at Techventure 2011.Photo: NRF

The Biofactory is a TIS incubator for medtech companies. Photo: NRF

Mr Theodore Tan, CEO of The Biofactory:

“The TIS scheme will de nitely help accelerate the growth of the biomedical sectorin Singapore an area where a lot of research investments have already been made.

We are con dent of taking Singapore’s biomedical industry to great heights.”

TIS incubator Clearbridge Accelerator brie ng DPM Teo on oneof its portfolio companies during Techventure 2011. Photo: NRF

8/13/2019 2pp Factsheet NFRIE 3May2012_v2

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1 CREATE Way #12-02CREATE TowerSingapore 138602Tel: (+65) 66842900Fax: (+65) 66840384Email: corpcom@nrf.gov.sg

1 GEEs refer to entrepreneurs with signi cant operating experience and track records (in a leadership capacity) in the growth of successful start-upcompanies. Speci cally, they should have played a leadership role in a company’s growth from start-up to at least US$100 million in revenue orcompany valuation.

NFIE Schemes

Early Stage Venture Fund (ESVF)The NRF invests S$10 million on a 1:1 matching basis,to seed several venture capital (VC) funds that investin Singapore-based early stage high-tech companies.As an incentive, the VCs are given an option to buy outNRF’s share of the fund within ve years by returningNRF’s capital with interest.

Proof-of-Concept Grants (POC)This grant of up to S$250,000 is for technology proof-of-concept development projects. NRF administersthe scheme for university and polytechnic researcherswhile SPRING Singapore (the government agencyresponsible for small businesses) manages a parallelscheme for companies.

Disruptive Innovation (DI) IncubatorThis scheme supports a business incubator whichinvests in Singapore-based start-ups demonstratingdisruptive innovation. This is based on the innovationmethodology of Harvard professor Clayton Christensen.

Technology Incubation Scheme (TIS)The NRF co-invests up to 85% (capped at S$500,000) inSingapore-based start-up companies that are incubatedby selected Technology Incubators who provide theirinvestee companies with physical space, mentorshipand guidance. As an incentive, the incubator operatorsare given an option to take over NRF’s stake in the start-up companies within three years by repaying NRF’s

investment with interest.

Translational R&D Grants for Polytechnics (TRD)These development grants of up to S$500,000 aregiven to researchers in the polytechnics to carry outtranslational research using intellectual property (IP)from the universities and research institutes.

University Innovation Fund (UIF)This provides funding to the universities for approvedinnovation-related activities.

National Framework of IP PrinciplesThis is a framework to speed up the licensing of IP fromthe universities and research institutes to industry.

Innovation and Enterprise Institute (IEI) The IEI is a national centre that will propose policies andinitiatives to encourage innovation in both public andprivate sectors. It is expected to be a thought leader for

innovation, able to galvanise the various innovation andenterprise activities in Singapore.

Global Entrepreneur Executives (GEE)This is a co-investment scheme to get high-growthand high-tech venture-backed companies with GlobalEntrepreneurial Executives 1 (GEEs) in ICT, medtechand cleantech to relocate to Singapore. NRF will investup to US$3m in matching funding to eligible companiesin the form of convertible notes.

Innovation Vouchers SchemeThis is a scheme where local enterprises are givenvouchers that are redeemable for R&D and technicalservices from the IHLs and public research institutes.This scheme is operated by SPRING Singapore.

For more information on the National Framework for Innovation and Enterprise, refer to:http://www.nrf.gov.sg/nrf/otherProgrammes.aspx?id=1206

The NFIE currently supports the following initiatives: