SMU opens US$10M fund to startups, offering up to US$250K each
What's the deal? Singapore Management University (SMU) is backing deep-tech startups through a US$10 million Urban SustaInnovator (USI) Fund, offering up to US$250,000 each to selected finalists of its Lee Kuan Yew Global Business Plan Competition (LKYGBPC). The fund, run by SMU's Institute of Innovation & EntrepreneurshipDealroom has a profile for this one. Try Dealroom →, is disbursed over multiple years.
Why now? SMU opened applications for the 13th edition of the competition on October 28, 2026, at the Singapore Week of Innovation and Technology. The fund, launched in May 2025, complements a nine-month accelerator that gives finalists market access, pilot projects, and strategic introductions across Asia.
What's the endgame? The fund positions itself as a "pure investment vehicle" without the exit timelines of traditional venture capital. "For startups, it's much more attractive than traditional venture capital, which could be looking at a limited time frame for when they want an exit," said Rony Palathinkal, head of LKYGBPC and USI at SMU IIE.
The competition spans 12 focus areas, including climate tech, energy, food and land use, urban mobility, and health tech. To date, 10 pilots have launched through the programme's introductions, with 50 more potential pilots and contracts in talks.
What's working? Malaysia-based food security startup QarbotechDealroom has a profile for this one. Try Dealroom →, a finalist in the 12th edition, accessed a large pilot — a sugar-cane plant in the Philippines — through talks with family offices. Palathinkal frames Singapore as a "node" for startups scaling east or west, pointing to its regulatory standards and SMU's overseas centres in Indonesia, Thailand, Vietnam, and China.
The signal: SMU's fund is a targeted early-stage route to pilots, not a substitute for larger public schemes or conventional VC. It arrives as Singapore pushes to commercialise deep tech — the government added US$322.7M to Startup SG Equity on October 28, taking the scheme above US$733.3M. Its significance will hinge on whether those pilots convert into paying customers and follow-on capital.
Read more: businesstimes.com.sg
Image credit: Generated with Gemini
