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  Channel NewsAsia 27 Mar 07
Government sets up S$40m fund to develop water technologies

Business Times 28 Mar 07
Fast-track incubator scheme for water, environment start-ups
By Matthew Phan

START-UPS in the water and environment space have a new avenue of finance - a fast-track incubator scheme announced yesterday by Minister for the Environment and Water Resources Dr Yaacob Ibrahim.

The Fast-Tech scheme, which has a budget of up to $10 million over the next five years, will offer financial incentives and mentoring by established companies. 'By helping the start-ups with financial assistance and business advice, we hope to see a large group of successful water start-ups, which would otherwise not have the resources to develop their own products or market channels, or be sizeable enough to attract equity financing,' Dr Ibrahim said.

Aspiring start-ups with promising technical ideas can apply to be housed at approved incubators and seek funding support over two years of up to 85 per cent of their needs, or up to $300,000, whichever is lower. Qualifying costs include R&D or business-related needs for manpower, training, equipment loans and professional services. Singapore-based firms less than three years old are eligible to apply.

Speaking yesterday at an event to mark the third anniversary of the Singapore Water Association, Dr Ibrahim also announced government funding for scholarships to train specialists in water and environmental technology.

Thirty million dollars will be set aside over the next five years to support two types of scholarships.

The first group of scholarships will be given to graduate students at local and overseas universities, who can choose to study various disciplines in environmental, civil or chemical engineering.

The second group is company scholarships. Companies will share the cost of the scholarships for post-graduate degrees at local universities. Black & Veatch and Keppel Corp have already expressed interest, Dr Ibrahim said.

Channel NewsAsia 27 Mar 07
Government sets up S$40m fund to develop water technologies

SINGAPORE : A total of S$40 million has been set aside to groom talents and local companies in water technologies.

Three quarters of this amount will be awarded to students to pursue post-graduate studies in both local and top overseas universities over the next five years. And the remaining sum will go into a new scheme to help jump-start new companies in the industry. This was announced by Dr Yaacob Ibrahim, Minister for the Environment and Water Resources.

He said the "Fast Track Environmental and Water Technologies Incubator Scheme", or "Fast-Tech" for short, will work in two ways. New companies, which are no more than three years old, can apply for funding of up to S$300,000 over two years. The money must be spent on business-related activities like manpower training or loaning of equipment. They will also get professional mentoring by established firms, or 'incubators'.

Konzen Environmental Group, a Singapore-based company specialising in waste water treatment systems, is one of three incubators planned. It is expected to be ready in April 2007.

The new schemes are part of the S$330 million allocated by the National Research Foundation to develop the Environment and Water Technologies Sector. Jobs in this sector are expected to double to about 11,000 and contribute S$1.7 billion to Singapore's economy by 2015.

Dr Yaacob said: "We want to develop Singapore into a global hydrohub as an R&D base for water technologies and a wellspring of solutions for water - a place where international and local water companies come together." - CNA/ch
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