NUS inks 3-year partnership with Tencent to incubate Singapore start-ups

The National University of Singapore (NUS) has partnered Internet services provider Tencent to set up a programme nurturing and incubating companies in Singapore. This will be done with the Chinese company through the services of Tencent Cloud. The three-year memorandum of understanding was signed through its entrepreneurial arm, NUS Enterprise.

As part of the agreement, Tencent will support selected NUS start-ups with marketing efforts, and feature speakers from selected companies in the events it organises.

Within the first year, up to 20 NUS start-ups will also be mutually selected by Tencent and NUS to utilise Tencent Cloud services. These NUS start-ups will receive technical support, solution, online and offline training with respect to Tencent Cloud products, and gain more insight regarding best practices in their respective fields.

Additionally, the selected NUS start-ups will be granted access to Tencent's Artificial Intelligence Lab, dedicated AI services and other relevant means to create applications and other features. Tencent will also provide the selected NUS start-ups with reasonable access to other ecosystem support from Tencent, along with opportunities to obtain direct or other investments, receive leads and build connections with global ecosystem partners.

According to a press release, the partnership signifies the commitment of both parties to promote and contribute to economic progress by supporting NUS-affiliated start-ups incorporated in Singapore. Freddy Boey, NUS deputy president (Innovation & Enterprise), said the start-ups can benefit from Tencent Cloud's wide range of products and gain exposure as well as awareness through Tencent's ecosystem.

Meanwhile, Flying Wu, GM, International Business Group at Tencent, said the company will help to nurture local companies in the country by leveraging Tencent's expertise in the cloud space and through its cloud products. The resources cover various sectors spanning finance, telecoms, eCommerce, travel and hospitality as well as online game and entertainment. Moving forward, it is also open to more collaborations with different educational institutes and businesses in Singapore."

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