PRESS RELEASE
Singapore, 25 July 2024
NUS and raiSE commit S$3.5 million to support tech-based social enterprise start-ups in Singapore
- The inaugural cohort of seven start-ups with human-centred social impact innovations will each receive funding of $95,000
- NUS Enterprise unveils dedicated space for purpose-driven ventures, BLOCK71 Social Impact Hub
NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS), and raiSE, the Singapore Centre for Social Enterprise, today announced a joint commitment of S$3.5 million to grow tech-based social enterprise start-ups under the Technology For Sustainable Social Impact (TS2) accelerator programme.
The funds will nurture 16 promising social enterprise start-ups participating in the TS2 accelerator programme over the next two years, providing them with essential resources and support. As part of this commitment, NUS Enterprise has established the BLOCK71 Social Impact Hub, a dedicated space designed to cultivate and empower purpose-driven ventures.
The inaugural cohort of seven start-ups under the TS2 accelerator programme showcased their technologies today at a Demo Day event, held in conjunction with the official opening of the BLOCK71 Social Impact Hub, located at LaunchPad @ one-north. (Please refer to Annexe A for more information on the TS2 start-ups; Annexe B for quotes from representatives of these start-ups; and Annexe C for more information on some NUS social impact start-ups at BLOCK71 Social Impact Hub.)
The TS2 accelerator programme was jointly launched by NUS Enterprise and raiSE on 29 January 2024 to help scale innovative ventures in the social enterprise sector. The inaugural cohort of start-ups focus on addressing social gaps in Singapore, and creating solutions that target diverse beneficiaries such as the elderly, students with different learning needs, youths at risk of mental distress and dengue patients.
TS2 accelerator programme
The 10-week TS2 accelerator programme supports growth stage start-ups that adopt social enterprise models, with varying levels of technological engagement that range from deep tech to light and low tech. The programme, which held its first run from end-April 2024 to July 2024, combines a structured curriculum and a customised development plan tailored to the needs of each participating start-up.
Under the programme, start-ups also gain access to a rich network of mentors, investors, and impact professionals to help them scale their businesses and amplify their social impact. Leveraging the BLOCK71 incubation nodes in nine cities across the globe, start-ups gain access to overseas markets and commercial opportunities.
Associate Professor Benjamin Tee, NUS Vice President (Ecosystem Building), said, "Our collaboration with raiSE marks a significant step forward in supporting purpose-driven ventures by providing them with essential resources to grow, and further fostering an ecosystem dedicated to positive social impact. The TS2 accelerator programme expands upon our experience in nurturing technology start-ups to boost social impact endeavours. This new initiative, along with the establishment of BLOCK71 Social Impact Hub, is our commitment to develop innovations that achieve greater social impact via entrepreneurship.”
"raiSE shares NUS Enterprise’s commitment to supporting early-stage businesses on their social impact journey. Through our partnership in the TS2 accelerator programme, we aim to broaden our support to technology-based start-ups. By combining raiSE's expertise in social enterprise business models with NUS Enterprise's extensive network and innovation expertise, we accelerate the growth of early-stage start-ups to address critical social challenges," said Alfie Othman, CEO, Singapore Centre for Social Enterprise, raiSE.
To further maximise the impact and growth of promising TS2 start-ups, NUS and raiSE are developing a comprehensive post-accelerator support system. This initiative will feature targeted expert peer learning sessions and strategic mentoring check-ins, focusing on critical milestones such as negotiating partnerships and securing funding. These tailored support mechanisms aim to provide ongoing guidance and resources to TS2 start-ups, ensuring their continued success. NUS Enterprise and raiSE will also commence planning for the 2025 iteration of the TS2 accelerator programme scheduled for the third quarter of 2024, building on the insights and successes of the current programme.
Empowering purpose-driven start-ups
The TS2 accelerator programme is the latest addition to NUS Enterprise’s continued efforts to support purpose-driven start-ups. Since 2011, NUS has incubated and supported close to 400 societal impact start-ups, of which 70 per cent address human-centred social impact issues and 30 per cent on environment and sustainability.
In addition to the TS2 accelerator programme, to further nurture the next generation of social impact start-ups, NUS Enterprise has established the BLOCK71 Social Impact Hub to provide a dedicated space for purpose-driven ventures that address issues pertaining to societal well-being and environmental sustainability. Pioneer occupants of this new hub will include the seven start-ups from the inaugural TS2 cohort, as well as start-ups from NUS social impact ecosystem.
The BLOCK71 Social Impact Hub offers a suite of services to support and accelerate impact ventures:
- Tailored Capacity Building Programme
Working in partnership with industry experts and ecosystem partners, the hub will provide tailored training programmes to enhance the skills and knowledge of social entrepreneurs. - Mentorship and Guidance
The hub will curate and document best practices in impact entrepreneurship, providing insights and guidance to start-ups navigating the social impact landscape. Additionally, recognising the importance of quantifying social impact, the hub will assist tech-based ventures in incorporating effective impact measurement frameworks into their operations. The hub will also provide access to experienced mentors and industry professionals who offer strategic advice and support. - Networking Opportunities and Global Connections
The hub organises events and facilitates connections between start-ups, investors, corporates, and other ecosystem players, and in turn, fosters collaboration and growth. Leveraging BLOCK71’s incubation nodes and infrastructure in nine cities across the globe, the Social Impact Hub provides opportunities for start-ups to expand their reach and impact across Asia and beyond.
For media enquiries, please contact:
For NUS Enterprise (APRW on behalf of NUS Enterprise):
Bijal Doshi
bijal@aprw.asia
Aye Mya Mya Toe (Mya)
mya@aprw.asia
For raiSE:
Koh Wei Shan
weishan@raise.sg
About National University of Singapore
The National University of Singapore (NUS) is Singapore’s flagship university, which offers a global approach to education, research and entrepreneurship, with a focus on Asian perspectives and expertise. We have 16 colleges, faculties and schools across three campuses in Singapore, with more than 40,000 students from 100 countries enriching our vibrant and diverse campus community. We have also established more than 20 NUS Overseas Colleges entrepreneurial hubs around the world.
Our multidisciplinary and real-world approach to education, research and entrepreneurship enables us to work closely with industry, governments and academia to address crucial and complex issues relevant to Asia and the world. Researchers in our faculties, research centres of excellence, corporate labs and more than 30 university-level research institutes focus on themes that include energy; environmental and urban sustainability; treatment and prevention of diseases; active ageing; advanced materials; risk management and resilience of financial systems; Asian studies; and Smart Nation capabilities such as artificial intelligence, data science, operations research and cybersecurity.
For more information on NUS, please visit nus.edu.sg.
About NUS Enterprise
NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS), plays a pivotal role in advancing innovation and entrepreneurship at NUS and beyond. We actively promote entrepreneurship and cultivate global mind-sets and talents through the synergies of experiential learning, active industry partnerships, holistic entrepreneurship support and catalytic entrepreneurship outreach. Our initiatives and global connections support a range of entrepreneurial journeys and foster ecosystem building in new markets. We provide expertise and connections to create successful spin-offs and translate innovations into the marketplace through industry collaboration. These initiatives augment and complement the University’s academic programmes and act as a unique bridge to industries well beyond Singapore’s shores.
For more information, please visit enterprise.nus.edu.sg
About raiSE
The Singapore Centre for Social Enterprise, raiSE nurtures and grows Social Enterprises through providing financing options, capacity building and networks.
raiSE advocates for businesses to embrace Social Enterprise characteristics: intentionality to incorporate social impact as the core objectives of their business, a commitment to additionality in measuring performance through a double bottom line of creating sustainable finance returns and social impact, and lastly, proportionality in resources allocated towards their social impact creation.
For more information, please visit raise.sg
Annexe A – Inaugural cohort of TS2 accelerator programme start-ups
1. MADCash
Company Description
MADCash, which stands for (Multiply Assist Donate Cash), is a socially-conscious company that blends education and Shariah-compliant fintech to support underbanked and vulnerable women.Founded in Malaysia, MADCash works with women entrepreneurs (most are nano/micro businesses) in the lower income brackets to develop financial literacy and grow their businesses to improve their financial stability. This is achieved through a combination of education and optional zero percent interest microfinance seed loans. MADCash is committed to empowering women in marginalised communities that do not have access to safe funding to break the poverty cycle.
Product Description
MADCash is a syariah compliant FinTech ecosystem builder with a mission to empower women micro-entrepreneurs to improve their income by providing micro-funding and drive digital financial inclusion.
2.Tech UP Advance
Company Description
Tech Up Advance equips educators with the knowledge, technology, and tools to teach Robotics as a way to develop students' fundamental interest in STEM.Their innovative "digital twin" technology creates safe virtual environments to simulate complex robotic kits and machinery, reducing hardware costs and anxiety, while allowing educators to integrate real-world industry-relevance into STEM classrooms and personalise learning.With their technology, educators can confidently teach complex applied-learning topics as well as help students cultivate problem-solving and critical thinking skills through trial and error, without using expensive hardware. This not only reduces costs but also allows educators to contextualise the curriculum with real-world industry applications, reinforce applied learning of fundamental mathematical/science concepts, and personalise learning through data collection.
Product Description
GoTechUp, is a gamified robotics simulation tool designed specifically for the education sector. This digital twin simulator of the Japanese Robotics Education Kit, ArtecRobo, has already supported over 500 educators and institutions, impacting more than 8,000 users across countries such as Malaysia, Japan, France, and Latin America. GoTechUp makes STEM education both fun and effective, engaging students deeply with interactive and practical learning experiences.
3. StratifiCare
Company Description
StratifiCare is a medical diagnostics company that is committed to improving patient outcomes through cutting-edge predictive protein diagnostics and Artificial Intelligence (AI) technology. It pioneers predictive diagnostics like StratifiDen, revolutionising healthcare in Singapore by pre-emptively identifying severe dengue cases to save lives, and optimising hospital resources to improve public health outcomes for our ageing population.
Product Description
StratifiDen is a groundbreaking AI-powered diagnostic tool by StratifiCare that predicts severe dengue cases early in Singapore. It enables timely and targeted interventions, saving lives and reducing healthcare costs by ensuring efficient treatment for both mobile and immobile patients. In addition, it supports the sustainability of the healthcare system during recurrent dengue outbreaks.It further ensures that our healthcare system remains sustainable for our ageing population while tackling the perennial dengue outbreaks of increasing magnitude. This embodies StratifiCare's commitment to leveraging cutting-edge medical diagnostic technologies for social impact, driving positive change in Singapore's healthcare landscape.
4. Active Silvers
Company Description
Active Silvers is a digital wellness platform that aims to bring inclusive health and fitness solutions to elderly-related communities and care centres, with the goal of improving the quality of life for older persons.This start-up is a social enterprise that aspires to provide inclusive, effective and transformative wellness solutions to improve the quality of life for elders and seniors through their care centres and caregivers.
Product Description
Active Silvers is an algorithm-powered wellness platform designed for the senior population, drawing upon nearly two decades of experience working with elderly communities. The platform creates personalised fitness regimens for elderly communities and care facilities, tailoring exercises to suit specific health needs and abilities of seniors. By leveraging sophisticated technology, Active Silvers ensures safe and effective physical activities that enhance the overall well-being of seniors.
5. MangaChat
Company Description
MangaChat is an innovative tech company dedicated to enhancing the emotional well-being of children through technology. Their platform utilises AI to provide a unique, art-driven journaling experience that helps children aged 8 to 12 express their emotions and engage with cognitive behavioral therapy (CBT) principles in a gamified format. By integrating advanced AI with creative visual storytelling, MangaChat offers a therapeutic tool that is both educational and engaging.
Product Description
MangaChat is an AI-powered platform that revolutionises emotional learning and expression for children. It uses comic graphics, which are automatically generated from input text, to help children visualise and understand their emotions. This gamified approach to psychotherapy, based on Cognitive Behavioural Therapy (CBT) techniques, makes learning about emotions fun and accessible, aiding in the improvement of children’s emotional health.
6. School on Cloud
Company Description
School On Cloud, launched in 2021 as the edtech branch of School of Concepts, is at the forefront of revolutionising education by making it universally accessible. This start-up is committed to harnessing technological advancements and global connectivity to break down traditional barriers in education.
It is a multi-media subscription-based EduTech web platform and app that provides a personalised learning experience for children (preschool and kindergarten) anywhere, anytime. They hope to transform the learning experience for every child based on their optimal learning style with their award-winning SOC method – which uses a visual, auditory, and kinaesthetic approach to teaching. The GenAI is built to assess a learner’s learning strengths and personalise the learning experience of any content of interest for the learner within seconds, making the learning experience – easy, seamless, and motivating.
Product Description
School On Cloud offers innovative educational tools such as a Digital Library focused on sustainability, which serves as both a resource repository and an agent for ecological awareness and action. Additionally, their Alphabet Explorer Mobile Learning App uses machine learning and augmented reality to transform learning the ABCs into an engaging and interactive adventure, making foundational literacy skills exciting and accessible in the digital age.
Based on their revolutionary and proprietary method to identify a child’s preferred learning style characterised by their three brand mascots (Chloe, Ollie, Drew), their platforms and app will recommend suitable interactive content tailored to their interests and learning abilities. Children can also create a personal profile and keep track of their learning programmes and outcomes across our web platform and app.
7. FingerDance
Company Description
FingerDance is a rapidly growing AI deep-tech start-up dedicated to developing advanced AI infrastructure aimed at creating a smarter and more inclusive world. The company has developed a two-way translation system that converts sign language to speech and text, and vice versa, using generative AI and a diverse collection of real-world sign language data.
Currently, FingerDance is collaborating with The Singapore Association for the Deaf (SADeaf) to integrate Singapore Sign Language (SgSL) into their products. Additionally, they are working with SBS Transit to develop software that will facilitate communication between SBS Transit and hearing-impaired commuters. Through these initiatives, FingerDance is striving to make sign language more accessible and construct a more inclusive AI infrastructure.
Product Description
FingerDance's flagship product, “FingerDance Sign LLM", features proprietary Sign Language AI translation and AI avatar technology, offering 24/7 sign language translation services and accessible sign language information. This product supports spoken language and sign language natural translation to enhance information and service accessibility for the deaf and hard-of-hearing communities.
Annexe B – Quotes by start-ups from the inaugural cohort of TS2 accelerator programme
“The access to mentors, community and the team have opened doors and provided perspective on how to be impact-focused in our approach and philosophy while ensuring that we are sustainable in what we do as a business.
The NUS team and raiSE have given us access to their networks and made time to support us to extend our exposure to potential stakeholders in Singapore and abroad. We appreciated the opportunity to exhibit at InnovFest and make great connections. The training is thorough, thought-provoking and has encouraged us to continue to be steadfast in our mission and purpose.
We are currently integrating psychometric testing into our profiling tool which will help improve the accuracy of our participant selection model, while also looking at expanding our impact into several markets that are interested in using the shariah compliant lending model in their networks. We are gathering data to build the predictive model of our future bankability index.”
JP Valdes, Co-Founder and Chief Product Officer, MADCash
“The TS2 accelerator programme has been a game-changer for GoTechUp. Mentorship from experienced individuals helped us refine our approach as entrepreneurs and develop a stronger growth strategy. The programme also connected us with valuable industry contacts, investors, and collaborators, especially within the social enterprise space. Finally, the weekly masterclasses with passionate experts in their fields provided a wealth of knowledge and learnings that have been instrumental in our progress.
Our immediate focus is on user acquisition and expanding our reach to schools and educational institutions globally. We are actively exploring partnerships and strategic alliances with corporates, government-led ecosystem enablers and educational institutions to facilitate this growth. We are also committed to developing our digital twin technology and its industry-aligned content to better serve educators' needs in contextualising applied learning topics in class and providing personalised learning for students through data collection.”
Sulfya Lim, Co-Founder, Tech UP Advance
“Through the TS2 accelerator programme, we have learnt from the best in the social impact ecosystem and codified their values through best practices.
We are currently working with a national clinical diagnostic laboratory to roll out StratifiDen for dengue patients in Singapore next year. With this, we aim to bring StratifiDen to other dengue-affected countries in the future using what we have done in Singapore as the reference model.
We will first start with our neighbours in Southeast Asia, before expanding westwards to South Asia and eventually Latin America.”
Anthony Chua, Co-Founder and CEO, StratifiCare
“The programme has helped in many facets of our business. Mentors from the Base of the Pyramid (BOP) Hub have guided us each step of the way with invaluable insights, guiding us through the next steps, framing our mindset, as well as offering best practice solutions in scaling up and being effective in social impact. The workshops have also inspired us, equipping us with practical skills in making business decisions and maximising our social impact.
Our future plans include expansion and scaling up. From creating our B2C option, to offering our solutions to other communities, we will be reaching out to other outreach agencies. We are also considering to expand regionally soon. Our next step would also include improving our digital solutions from the user interface and experience to a deeper level of algorithm to better meet the needs of the active ageing centres and other communities.”
Lionel Choong, Co-Founder, Active Silvers
“The TS2 programme has provided us with much-needed guidance through experienced mentors with different expertise. The funding has also given MangaChat access to additional resources to expand our outreach and further develop our products based on the requirements of our partners' target audiences' needs.
By 2025, we aim to get 5,000 primary students to adopt this solution and we want to give back to non-profit organisations by offering 1,000 subscriptions to their beneficiaries. We will continue to work with various mental health advocates and organisations to play an active role in using AI and tech to support the mental wellness of Asia's young children. Our primary goal is to be integrated into Singapore’s education and mental wellness sectors by 2025. Subsequently, through our local partners' network in Asia, we hope to build our brand in the rest of Asia by 2026.”
Renee Chong, Co-Founder, MangaChat
“I have had the opportunity to re-plug myself into the start-up ecosystem where so many like-minded entrepreneurs are impact-driven and doing inspiring work for the community we live in. One programme feature I would like to highlight would be the mentorship programme by Base of the Pyramid (BOP). Their mentors are direct and on point with their feedback. They also have been so encouraging and helpful throughout the journey.
School on Cloud endeavours to be the Disney of Education with impact at heart, to leave no child behind – empowering every child to get access to quality education in a fun and motivating way. We hope to deepen our outreach in Singapore, Japan, Vietnam, Indonesia, and Malaysia by collaborating with corporates who care about children and the type of content that goes out to everyone. We also aim to partner with more schools around the region who want to make learning accessible to every child within their cohort regardless of learning needs, and we would like to work with the community to empower parents and educators to deliver quality content within their ecosystem.”
Mint Lim, Co-Founder and CEO, School On Cloud
“The programme supports us in iterating our business model and learning more about how to assess the social impact in both qualitative and quantitative methods. In addition, it is a great platform for us to learn from others and find like-minded partners.
We would like to work with more partners in different industries and keep iterating our product to provide better services.”
Gong He, Co-Founder, FingerDance
Annexe C – Other NUS Social Impact start-ups at BLOCK71 Social Impact Hub
1. moonbeam co.
Company Description
moonbeam co. is committed to nourishing people and the planet by upcycling food byproducts into nutritious, delicious products. By upcycling food byproducts like spent grains, it reduces food waste while creating nutritious products that are kinder to the body and the planet.
Product Description
the moonbeam co. is most known for using spent grain, byproducts from breweries, to make fibre-rich baked goods. Their signature product is their granola, as well as their sourdough bread that was created in collaboration with Cedele. Made possible by their fermentation and formulation methods that were developed in-house, large amounts of byproducts are incorporated without affecting texture and taste. The team harnesses the full potential of every ingredient, promoting wellness and environmental regeneration.
2. Boost VitaliTEA
Company Description
Boost VitaliTEA is a research-driven start-up that combines Traditional Chinese Medicine (TCM) and modern neuroscience to create innovative, natural solutions for stress management. With scientifically validated TCM formulations, the team is dedicated to revolutionising how people approach mental wellness by making it more accessible, natural, effective and appealing. Designed for easy and enjoyable consumption, Boost VitaliTEA aims to reduce the stigma around mental healthcare and promote holistic well-being.
Product Description
Lavender TranquiliTea is a premium TCM-based milk tea designed for stress relief and promoting good sleep. This unique blend combines an effective TCM formula with oat milk, creating a milk tea that appeals to youths. Proven to reduce stress by 30%, it has been validated through three randomised control studies with over 60 participants, blending ancient TCM wisdom with modern scientific research. Developed in partnership with a prestigious TCM clinic boasting 60 years of experience, and with guidance from a 14-year veteran in food science, the formulation strikes a perfect balance between health and taste.
3. Cityscape Farms
Company Description
Cityscape Farms specialises in providing innovative urban agriculture solutions tailored for Singapore's urban environment, with the aim to bolster sustainable food security in urban areas by enhancing yields and reducing waste through innovative agricultural solutions.
Product Description
Cityscape Farms’ standout product, the Smart Crop Wall, integrates advanced Internet of Things and AI technologies to create maintenance-free, plug-and-play growing systems. These systems optimise water usage, plant health, and energy efficiency, lowering costs and making sustainable urban farming accessible and engaging for everyone, from corporate organisations to educational institutions and residential users.