Partnership Act Singapore
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Yesterday, U.S. Secretary of Commerce Gina Raimondo and Singapore Minister for Trade and Industry Gan Kim Yong met to discuss early outcomes and next steps on implementing the U.S.-Singapore Partnership for Growth and Innovation (PGI), which they signed last month in Washington.
Secretary Raimondo and Minister Gan co-chaired a PGI industry roundtable with U.S. and Singapore business leaders, co-organised by the American Chamber of Commerce and the Singapore Business Federation. The roundtable promoted commercial partnerships and exchanges, and collected ideas for the work plan of joint U.S.-Singapore activities under the PGI.
Today, at COP28, the Maritime and Port Authority of Singapore (MPA), Port of Los Angeles (POLA) and Port of Long Beach (POLB) unveiled a Partnership Strategy for a green and digital shipping corridor (GDSC) across the Pacific Ocean.
To achieve these aims, a partnership structure and governance mechanism have been developed to provide clarity on the roles and responsibilities of GDSC partners. The strategy also outlines processes for onboarding new participants, financial management, confidentiality and decision-making.
As next steps, the ports and C40 have commissioned a study to analyse trade flows and vessel traffic between Singapore, Los Angeles and Long Beach. The study will estimate the quantity of near-zero and zero-emission fuels required for this traffic, and guide implementation by identifying opportunities for collaboration to advance the development of the GDSC.
The new NTU-Imperial Research Hub builds on existing areas of collaboration, such as in joint education and research initiatives. The two universities continue to fund innovative education programmes and research projects that support early-stage collaboration among academics, researchers, and students.
The universities will seed fund the most innovative ideas and develop joint research proposals for ambitious and large-scale research grants. They will also carry out joint training for PhD students and early career researchers and promote academic and knowledge exchange between the institutions.
NTU President Prof Subra Suresh said: NTU and Imperial enjoy a longstanding and close relationship, forged not only through working together on the joint medical school together, but also through areas of research and innovation where we collaborate closely. Entering a new strategic partnership underscores the depth of cooperation between the two universities, which is driven by a shared vision to strengthen capabilities in research, education, and innovation and enterprise.
NTU and Imperial signed a collaboration agreement in 2010 to jointly set up the Lee Kong Chian School of Medicine. That successful collaboration will be completed in 2028, with NTU to award its own medical degrees from 2029. The two universities have been in discussions on expanding their fruitful partnership into other strategic areas, which has now given rise to the NTU-Imperial Health, Sustainability and Technology Hub.
A partnership is a fairly simple business structure that involves more than one partner. Setting one up in Singapore is not complicated. There are a few important things to be aware of, especially around shared responsibilities and legal liability. In this comprehensive guide, we explain how to create a partnership.
"Singapore has always been a strong, ready and willing partner on global security challenges," he added.
Austin said that he and Ng will discuss opportunities to strengthen the U.S.-Singapore defense partnership, including:
Ng also said that Singapore Prime Minister Lee Hsien Loong appreciated the August visit to Singapore by Vice President Kamala Harris and President Joe Biden's meeting with leaders on Oct. 26 at the U.S.-Association of Southeast Asian Nations summit in Brunei.
ASEAN is an economic union made up of 10 member states in Southeast Asia. It promotes intergovernmental cooperation and facilitates economic, political, security, military, educational and sociocultural integration among its members and other countries in Asia.
SINGAPORE, Oct. 5, 2023 /PRNewswire/ -- Lightstone Ventures, ClavystBio, Leaps by Bayer, Polaris Partners, and the Polaris Innovation Fund, along with global life science company Evotec SE, today announced the launch of 65LAB to advance drug discovery and the creation of new therapeutics companies in Singapore.
65LAB was founded to establish a model of long-term partnership to foster future company growth and the development of Singapore's biotech ecosystem. 65LAB selects promising academic projects and invests up to US$1.5 million in each project over the course of 18-24 months. The collaboration enables scientists in partner institutions to accelerate their therapeutic innovations through the support of Evotec's Expert-in-Residence, as well as direct access to the life science company's drug discovery, translational and development capabilities across disease areas and therapeutic modalities. Upon completion, projects will be evaluated by 65LAB's board of global investors for further investment and the creation of new companies.
The core of the 65LAB collaboration is its Singapore-based academic and R&D partners, whose research discoveries will be translated with the goal to potentially achieve commercial success and create positive patient impact. Singapore's public sector academic and translational researchers bring expertise across multiple modalities of treatment and disease areas of high unmet need. Dr. Koh Shuwen, Director, Technology Transfer and Innovation, NUS Enterprise, said: "65LAB embodies the spirit of academic and industry collaboration, successfully translating the University's intellectual property for use and adoption by the industry. This collaboration offers NUS and our partners an opportunity to accelerate innovation by engaging the industry at an early stage of deep technology development." Assistant Professor David Wang, Director of the Centre for Technology and Development, Duke-NUS Medical School, added: "As a research powerhouse, Duke-NUS is committed to translating academic discoveries into clinical products, and I am confident that our collaboration with 65LAB will enable us to take that to a new level." Ms. Irene Cheong, Executive Director of A*STAR's Innovation & Enterprise Group said, "A*STAR is pleased to partner 65LAB and support the translation of novel biomedical discoveries from bench to bedside for the benefit of patients in Singapore and beyond. As a strategic innovation engine for Singapore's R&D ecosystem, we look forward to contributing to the growth of the local biotech ecosystem."
65LAB's Board of Directors is a team of world-leading biotech investors with broad expertise in company building and advancing a broad range of therapeutic modalities into and through the clinic. The Board provides oversight and governance to 65LAB's strategy and operations and includes Dr. Wen Qi Ho, Therapeutics Lead, ClavystBio, Dr. Christina Isacson, Partner, Lightstone Ventures, Dr. Pei Sze Ng, Director, Leaps by Bayer, and Dr. Kim Png, Principal, Polaris Partners.
Dr. Christina Isacson, Partner, Lightstone Ventures, said: "Lightstone has long been committed to supporting the growth of Singapore's promising biotech sector, and we are thrilled at this opportunity to continue to foster and invest in the exciting drug development research coming out of the country's universities. 65LAB is a unique entity, whose key differentiator is the syndicate of seasoned global life science investors who recognize the untapped potential of Singapore's excellent base of scientific talent. We are pleased to partner with such a distinguished group of investors, who bring significant resources, experience and networks to transform these innovations into new medicines and bring them to market."
Dr. Thomas Hanke, EVP Head of Academic Partnerships at Evotec, said: "Singapore has multiple world-renowned institutions for basic research in the life sciences. Through 65LAB, we are looking forward to translating their ground-breaking research into product candidates and new company formations that will benefit patients with unmet medical needs across all modalities and therapeutic areas."
Dr. Khoo Shih, Chief Executive Officer, ClavystBio, said: "65LAB unites private and public sector players in a shared vision. ClavystBio's mission is to accelerate the commercialization of life sciences innovations through venture building and creating partnerships, and we're excited to be supporting the development of scientific talent and innovations at Singapore's leading academic and R&D institutions to enable new venture creation and grow our ecosystem."
Dr. Juergen Eckhardt, EVP, Head of Leaps by Bayer and Pharmaceuticals Business Development, Licensing & Open Innovation, said: "We are thrilled to invest in Asia alongside a top-tier syndicate to tap into the remarkable science talent in Singapore and beyond. Leaps' mission is to solve ten of humanity's biggest challenges through investing in teams pursuing fundamental breakthroughs. Neither innovation nor disease knows geographic boundaries, and as such, we seek to support the best and brightest minds around the world for the benefit of patients and eagerly await the advancements poised to come out of 65LAB."
Amy Schulman, Managing Partner of Polaris Partners and the Polaris Innovation Fund, said: "Singapore has a burgeoning biotech ecosystem, including a wealth of academic science that is hungry to be translated. 65LAB will play an important role in bringing development capabilities and expertise to facilitate the translation of these innovative IP. Together with our academic and investor partners, we look forward to supporting the development of new medicines and innovations that will benefit patients globally."
About ClavystBioClavystBio's mission is to accelerate the commercialization of life sciences breakthroughs into health impact. We invest and partner with innovators, entrepreneurs and founders to launch and grow global companies in Singapore. We foster partnerships among academics, industry and investors, and convene life sciences communities at our collaborative innovation space Node 1. Together, we advance Singapore as a global life sciences translational hub. www.clavystbio.com
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