SINGAPORE - Temasek Lifesciences Accelerator (TLA) has launched a life sciences start-up programme to incubate over 30 start-ups in the next five years.
TLA's incubator, called The Hatchery, provides access to mentorship and 17,000 square feet of co-working space and research facilities. Key facilities include laboratories, specialised wet labs, growth chambers, greenhouses, and animal and aquaculture research facilities.
TLA will fund the best start-ups in the programme either through a pre-seed, seed or Series A investment via its fund, The Lifesciences Innovation Fund (TLIF). Through TLIF investments and related fundraising activities, TLA aims to support incubatees with a target of close to $100 million in funds raised during the next five years.
TLA is a joint venture between Temasek Life Sciences Laboratory, a nonprofit philanthropic research organisation, and Temasek Holdings' venture capital arm Vertex Holdings.
The Hatchery is run by a team of professionals in TLA with experience in intellectual property commercialisation, start-up investing, talent recruitment, and sales and marketing. start-ups will also have access to TLA's network of scientists, entrepreneurs, business executives and investors.
The programme is part of Enterprise Singapore's start-up SG Accelerator initiative, which provides funding and non-financial support to incubators and accelerators that catalyse growth for high potential start-ups.
Ted Tan, deputy chief executive of Enterprise Singapore, said: "The access to research infrastructure and equipment will enable such start-ups to accelerate their innovations toward commercialisation and shorten the time required for their products to go to market globally."
Singapore-based start-ups Allegro Aqua and Pathnova have respectively commercialised superior sea bass genetics and nasopharyngeal cancer diagnostics technologies through The Hatchery.
"We want to provide a nurturing environment to support the development of companies capable of delivering real world impact," said TLA chief executive Peter Chia.