From left: A*Star deputy chief executive (research) Professor Andy Hor; Enterprise SG assistant chief executive Soh Leng Wan; NTU senior vice-president (research) Professor Lam Khin Yong; NHG deputy group CEO (education and research) Professor Benjamin Seet

NANYANG Technological University (NTU), Agency for Science, Technology and Research (A*Star) and the National Healthcare Group (NHG) have launched co11ab Novena, a new biomedical technology (biomedtech) incubator.

The agreement to launch the incubator was inked by all 3 parties on Sep 9. The focus for co11ab will be across the spectrum of biotech, medtech and digital health.

This incubator is concentrated on helping biomedtech startups make the leap from research to commercialisation and will see a S$15 million investment, a mix of cash and space for the incubator, from NTU, A*Star and NHG. Expected to be operational by Q1 2023, co11ab will be located in NTU’s Lee Kong Chian School of Medicine (LKCMedicine) within Health City Novena.

Unlike typical tech startups, biomedtech startups have a longer journey in turning innovations into a commercial product. Marked by years of testing and regulatory hurdles, co11ab aims to help overcome these challenges.

“The collaborations formalised today pair startups incubated at co11ab with the medical and industrial expertise of NTU LKCMedicine faculty and our partners to overcome these challenges. The result is an innovation ecosystem that benefits research and innovation, and nurtures next-generation entrepreneurs in the burgeoning biomedtech space,” said NTU senior vice-president (health & life sciences) and LKCMedicine dean Professor Joseph Sung.

The incubator will feature equipment and expertise from a partnership with the Singapore Medtech Consortium (SMC). The consortium is made up of 72 Singapore-based manufacturers, distributors and venture capitalists focused on medtech early-stage product development.

*Article taken from The Business Times dated 9 September 2022.