31 May '11, 7am

$40m fund for medical tech start-ups

The Government will launch a $40 million fund to encourage more medical technology start-ups as part of the Research, Innovation and Enterprise 2015 plan, Spring Singapore said on Tuesday. The fund will be managed by SPRING SEEDS Capital, a wholly-owned subsidiary of SPRING Singapore, under a new Biomedical Sciences Accelerator (BSA) programme. SPRING Singapore said that the knowledge and capital-intensive nature of the biomedical industry made it difficult for start-ups with innovative ideas to succeed, adding that they hoped the BSA programme would help catalyse more start-ups. SPRING SEEDS Capital also called for proposals to select up to two BSA Operators for the programme. The selected Operators will identify, evaluate, finance and manage high-potential medtech start-ups, they said. 'Singapore is developing biomedical sciences as it is an important sector in the econo...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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