SINGAPORE - Start-ups working on artificial intelligence (AI) will now have a centre in Suzhou to help them venture into the Chinese market.
Besides offering one-stop services for the start-ups, the centre aims to incubate 15 innovative companies in its first five years and promote National University of Singapore (NUS) technologies.
The NUS Artificial Intelligence Innovation and Commercialisation Centre is a $20 million collaboration between NUS and Suzhou Industrial Park Administrative Committee.
It will start operating from January 2018, focusing on advancing "AI research, innovation, application and commercialisation across various areas, including healthcare, financial technology and smart city", NUS said in a statement.
"It will provide technology incubation support and solutions to start-ups and small businesses, helping them solve problems with AI as well as accelerate the adoption of AI to promote and form an AI ecosystem and industrial chain in the Suzhou area."
The centre will also provide NUS students with opportunities for internship stints as well as lectures and symposiums to connect professionals in the artificial intelligence field.
The centre will be working with BLOCK 71 Suzhou - a business hub for innovators and entrepreneurs managed by NUS Enterprise - to improve NUS commercialisation technologies.
NUS' acting president, Professor Tan Eng Chye, said: "This new NUS AI centre, our first in China, will foster deeper scientific and industrial exchange between Singapore and Suzhou, as well as catalyse new technology and breakthroughs."