Singapore Management University (SMU) has launched the Urban SustaInnovator (USI), a deep tech accelerator aimed at supporting startups focused on urban solutions and sustainability.
The programme was introduced at the 12th Lee Kuan Yew Global Business Plan Competition (LKYGBPC), which this year drew 1,572 applications from 91 countries.
Minister for National Development Chee Hong Tat officiated the launch, highlighting the accelerator’s role in anchoring promising startups in areas such as decarbonisation, energy transition, sustainable construction and mobility.
The initiative is backed by a consortium of public and private partners including A*STAR, Antler, the Building and Construction Authority, ST Engineering, TRIREC and Wavemaker Partners.
Sixty university-linked deep tech startups have been shortlisted as finalists for the competition and are currently in Singapore to pitch for a share of S$2.5 million in cash, mentorship and other support.
The finalists will also gain access to the new accelerator, which offers a year-long programme with mentorship, industry connections and guidance on fundraising and commercialisation.
SMU said the programme is designed to strengthen Singapore’s position as a hub for deep tech and to provide a pipeline of startups addressing sustainability challenges.
Nearly 40 percent of ventures nurtured by SMU’s Business Innovations Generator incubator have worked on sustainability-related goals, raising more than S$1.15 billion over the past five years.
The LKYGBPC, organised biennially by SMU’s Institute of Innovation and Entrepreneurship, has become one of the region’s key university startup competitions.
The Grand Finals Week runs from 29 September to 2 October, with top teams competing for the Chancellor’s Cups and other prizes.
“Innovation is not just important; it is essential. This accelerator programme brings together venture capitalists, R&D experts, leading companies and public agencies to mentor promising urban solutions and sustainability startups.
Participants will receive guidance on fundraising, market access, and R&D as you build and launch your ventures,”
said Chee Hong Tat, Minister for National Development.
Featured image: (From left) Professor Lim Sun Sun, Vice President of Partnerships and Engagement, Singapore Management University; Professor Alan K L Chan, Provost, SMU; Minister Chee Hong Tat, Minister of National Development; Beth Henderson, Lead, Startup Programmes, The GEAR by Kajima; Khoo Teng Lip, Head, ST Engineering Ventures; Jonathan Cheng, Chief Technology Officer, Building and Construction Authority
