Singapore Joins Forces with Breakthrough Energy Fellows to Boost Southeast Asia’s Climate Tech Startup Scene
In April, a groundbreaking partnership was announced between the company, government agency Enterprise Singapore and state investment firm Temasek by signing a memorandum of understanding (MOU) to identify and nurture emerging climate technology in Southeast Asia. This collaboration was made public at Ecosperity Week 2024 and includes a joint funding commitment over the next three years.
As part of this collaboration, the Breakthrough Energy Fellows program will be establishing a hub in Singapore, marking its first regional hub outside of the United States. Through this program, Singapore will co-fund and support deep-tech climate start-ups focused on renewable energy and reducing carbon footprints to help the region achieve its net-zero target by 2050. Start-ups in the program will receive an initial seed funding of US$500,000 and gain access to a global network of industry partners, mentors, experts, and investors.
Singapore’s strong technical talent pool at institutions like the National University of Singapore and Nanyang Technological University is one reason why Enterprise Singapore chairman Lee Chuan Teck described this partnership as a “win-win proposition.” He highlighted the diverse range of technologies that Breakthrough Energy is exploring to combat global warming, including new materials that emit minimal carbon, new energy sources like hydrogen, and innovative ways to capture carbon from the atmosphere.
Breakthrough Energy Fellows vice-president Ashley Grosh praised Singapore for its strategic location as an opportunity for entrepreneurs to connect with markets and corporate partners. She emphasized that there is great potential for entrepreneurial innovation among researchers in Southeast Asia through this program.
