Innovation to Startup (I2S) Program - Letter of Intent (LOI)

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Background

Innovation to Startup (I2S) program is a single seamless funding pathway which brings together three successful grant schemes, these being: 

1. Phase 1: SMART Venture Exploration Grant - To assist in moving discovery from the lab toward the marketplace

2. Phase 2: NHIC Innovation to Develop (I2D) - To develop an innovation with a realisable commercialisation plan

3. Phase 3: Enterprise Singapore Startup SG Tech - To commercialise this innovation via a startup company route.

The tripartite partnership between NHIC, SMART, and Enterprise Singapore strategically bring together funding and resources to support start-ups. This is an accelerated funding pathway to support company formations around medical technologies innovations.

An I2S application must clearly illustrate the technical feasibility of the technology, a defined go-to-market strategy, and demonstrate the potential for translation to a point where the technology would be attractive for a start-up company formation.

• Clinical diagnostics
• Medical device and products
• Digital health
• Life science tools

Please note that I2S funding program does not support the following:

• incremental or predictable next step in the improvement of existing technology
• a simple combination of current technologies in a new format
• setting up of manufacturing lines
• drugs and biologics discovery/development

Funding Details

Please find the funding details for I2S in the table below. 

Phase 1 - SMART Venture Exploration Grant:

• Funding quantum is capped at $300,000 (inclusive of max. 30% indirect costs) awarded to the host institution.
  

• Funding Support is up to 1 year.

Phase 2 - NHIC I2D:

• Funding quantum is capped at $300,000 (inclusive of max. 30% indirect costs) awarded to the host institution.

• Funding support is up to 1 year.

Phase 3 - ENTERPRISE SINGAPORE Startup SG Tech - Proof-of-Concept (POC) & Proof-of-Value (POV) grants:

• Funding quantum is capped at $250,000 for Proof-of-Concept (POC) projects and $500,000 for Proof-of-Value (POV) projects, awarded to startups incorporated in Singapore with at least 30% local shareholding.

• Funding support is up to 1 year for POC projects and 2 years for POV projects. To maintain financial discipline, startups would be required to increase its paid-up capital to 10% and 20% of the grant amount for POC and POV respectively.

Eligibility Criteria

1. The team must consist of one Clinical PI and one Technical PI from Singapore public-funded institutions. The team should have a strong intention to start-up a company.

• Clinical PI:

• Must hold a primary appointment in a public healthcare institution or academic medical school in Singapore and be salaried by the institution.

• Technical PI:

• Must be employed by public-funded institution in Singapore (e.g. NUS, NTU, SUTD, SIT, SIM, SMU, A*STAR Institutions, Polytechnics, CREATE Institutions, SGH, DUKE-NUS, NUH and etc.)

• Must have relevant scientific/technical background and possess necessary experience to co-direct the project being supported by the grant.

2. Demonstrated preliminary proof of-concept data in in-vitro and/or in vivo research/laboratory models (TRL 3* and above) in the application.

 * Definition: Technology Readiness Level 3 - Initial proof-of-concept demonstrated.

 For any queries concerning eligibility, please contact the joint I2S Grant Secretariat at grant@nhic.cris.sg. 

Submission

Letter of Intent (LOI) Stage

1. Lead PI (either Clinical PI or Technical PI) to submit the completed LOI using the LOI template through the host institution's research office to the Joint I2Start Grant Secretariat at grant@nhic.cris.sg.
   

2. Applications will be reviewed jointly by all 3 partners (I.e. SMART, NHIC and ENTERPRISE SINGAPORE (ESG)).
   

3. NHIC as the grant secretariat will provide feedback to the PI.