Earlier this year, the Singapore government said it would be setting aside an additionalUS$215 millionunder the Startup SG Equity scheme to back local deep-tech start-up's and encourage more investments from other sources.
In line with this goal, global acceleratorIoT Tribesaid it has kicked off its first cohort focused on deep-tech in Singapore, revealing the 12 start-up's participating.
IoT Tribe is a partner of the Global Innovation Alliance initiative by Enterprise Singapore and the Singapore Economic Development Board.
With its Singapore Deep Tech Accelerator, the company aims to support global start-ups in developing their proof of value and connect them to its networks in Singapore, Asia, the UK, and the EU.
According to Valerie Lim, head of programs for Singapore at IoT Tribe, the company aims to get at least S$2 million (US$1.4 million) of investments in total for the first cohort.
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Psion Insights in IoT Tribe's 1st Deep Tech Accelerator in Singapore