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.
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