SINGAPORE, June 11, 2019 /PRNewswire/ -- Six deep technology start-ups from Singapore will now compete in Suzhou for market expansion opportunities in Suzhou, China for millions of RMB in cash grant support in order to accelerate their growth plans, organized by Suzhou International Elite Venture Week Enterprise Alliance, and Suzhou (Singapore) Center for International Innovation and Entrepreneurship.
Nanyang High-Tech Innovation Center (NTUIC), a technology innovation organization and service platform that spun from the Nanyang Technological University (Nanyang Technological University -- NTUitive PTE LTD) in Suzhou, and Techsumption Ventures (Techsumption), a venture acceleration lab focused on driving market validated technologies and products to APAC, hosted "Win the Future" Venture Contest for International Entrepreneurs (Singapore) 2019 in Cospace Park last weekend.
The venture contest saw close to 100 applications in just 10 days, with applicants coming from regions such as Singapore, Hong Kong, India, Malaysia, Germany and France. 10 start-ups were further selected to make a pitch for market expansion opportunities and cash grant support from Suzhou, China, with a total cash prize pool of RMB 100,000. The venture event attracted hundreds of participants, ranging from entrepreneurs, investors and the academia, demonstrating an increasing interest in China as a market for expansion. The start-ups were assessed based on five key metrics such as their market opportunity, innovative nature of their solutions, business model, the team and the relevance to China.
From an intense afternoon of contest, six start-ups emerged victorious and they are respectively:
1st Prize: NDR Medical
Robotics system with AI & Image Processing for automated lesion targeting
2nd Prize: Osteopore International Pte Ltd
Medical device manufacturer of biomimetic, bioresorbable devices that empower natural tissue regeneration
2nd Prize: VRcollab
VRCollab takes modeling to the next level, enabling architects, engineers, planners, and consultants to collaborate seamlessly on construction projects
3rd Prize: MDE Solutions
The future Pioneer of the marine intelligence ecosystem
3rd Prize: AutoSENS Pte Ltd
Easy-to-apply hydrophobic and advanced nano-coatings that form an ultra-strong bond with a multitude of surfaces
3rd Prize: XYConnect
Product and solution of 5G cell embedded smart streetlight make the lowest cost 5G deployment and smart city
These 6 start-ups will now participate in the "Suzhou International Elite Venture Week" next month and compete with start-ups selected from the world for further market expansion opportunities and an even bigger cash prize pool in Suzhou, China. NTUIC and Techsumption Ventures will also be accelerating selected start-ups which have decided to expand in China, concretizing the path to commercialization and monetization for these entrepreneurs.
For this event, Techsumption also partnered with a host of distinguished community partners including but not limited to CoSpace Park, TRIVE, LongHash, Silver Stone, CHGG, she1K, FESO ASIA, Jumpstart Media, PINC 360, driving the successful completion of the first red-carpet styled entrepreneurial event in Singapore.
About "Suzhou International Elite Venture Week":
2019 (11th) Venture Week for International Elites in Suzhou will be held from July 10 to July 12 in Suzhou. It will focus on inviting the high-level innovation and entrepreneurial talents (teams) in four forerunner industries such as biological medicine, new generation information technology, nanotechnology and artificial intelligence (AI) (hereinafter referred to as "BINA") in hope of integrating projects, technology and capitals.
About Nanyang High-Tech Innovation Center
Nanyang High-Tech Innovation Center is a technology innovation organization and service platform that spun from the Nanyang Technological University (Nanyang Technological University -- NTUitive PTE LTD) in Suzhou.
About Techsumption Ventures
Techsumption Ventures is a venture acceleration lab focused on driving market validated technologies and products to APAC. (www.techsumptionventures.com)
